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Pi Network’s value fell 42% to $1.72 as the Mainnet deadline nears. Binance set a March 14, 2025, KYC deadline. The market cap is $12.4B with $933M trading volume.
Pi Network Cryptocurrency Value Drops 42%, Crypto Market Reactions Before Mainnet Migration on March 14
Pi Network Cryptocurrency Crashes: The value of Pi Network has dropped significantly by 42%, falling from its peak of $2.99 as the deadline to move to its official blockchain, Mainnet, approaches. This deadline has created uncertainty among users and investors. Binance, a cryptocurrency exchange, has stated that there will be no extension beyond March 14, 2025, for Pi users to complete their KYC verification and migrate to the mainnet.
Currently, Pi Network is valued at $1.72, showing a 24-hour increase of 17.1%, according to Coingecko. The cryptocurrency has a market cap of $12,415,243,485 and a 24-hour trading volume of $933,692,246.
The price volatility increased as the deadline neared, dropping from its recent high of almost $3 to below $2 in just a few days.
What Is Pi Network Migration?
Pi Network migration involves moving users’ Pi cryptocurrency from a test environment (Testnet) to the official blockchain (Mainnet). According to Thangapandi Durai, CEO of Koinpark, this shift will enable Pi holders to utilize their tokens within a broader ecosystem beyond the Pi app.
To migrate, users must complete Know Your Customer (KYC) verification to confirm their identities. The Pi Core Team has set a deadline for this process, after which unverified tokens may be lost. This measure ensures network security and prevents fraud.
Once migrated, Pi holders can engage in transactions on the open mainnet, enabling interactions with other blockchains and potential integrations with exchanges and third-party applications.
Durai explains that open mainnet access means Pi Network will fully connect to the wider blockchain ecosystem. Users will have the ability to transact Pi freely, transfer tokens without restrictions, and integrate with external wallets. They may also have opportunities to trade Pi on cryptocurrency exchanges.
Pi Network Listing On Binance
The recent introduction of a new token listing model by Binance has fueled speculation about a potential Pi Network listing. However, Durai notes that despite widespread support, Binance has not officially confirmed the listing. Pi Network needs to continue demonstrating strong security measures, regulatory compliance, and sustained user engagement to meet the strict criteria of major exchanges.
What Is Pi Network?
Pi Network is a social cryptocurrency, developer platform, and ecosystem designed for accessibility and real-world use. It allows users to mine and transact Pi through a mobile-friendly interface while supporting applications built within its blockchain ecosystem.