Pi Coin Climbs 80% to Hit $1.29 After Opening to External Trading

Pi Network officially opened to external trading on Thursday, February 20 and it happened after years of anticipation from the coin's investors.

Pi Coin, the cryptocurrency that had a highly-anticipated launch on multiple crypto exchanges last week, has seen a significant rise in value, climbing 80.23% from the previous trading session to hit $1.29, as per data from Coin Market Cap.

This comes after Pi Network was officially opened to external trading on Thursday, February 20, an event that was eagerly awaited by investors in the coin.

As reported earlier by Moneycontrol, Pi Coin is a cryptocurrency that utilises the Web3 ecosystem and enables registered members of its network to mine coins for free without the energy-intensive methods employed by other cryptocurrencies.

Users can simply open the Pi app and hit a button once every 24 hours to prove their presence, for which they are awarded small portions of the coin. Referrals to other users result in greater portions being awarded.

The rise in value comes after the coin dropped by over 60% to $0.737 on Friday, February 21, 2025, a day after its listing. It had peaked to $1.97 before this.

As of now, Pi claims a network of over 60 million members worldwide and was founded in 2019 by Nicolas Kokkalis and Chengdiao Fan, both Stanford Ph. Ds.

Multiple centralised exchanges had confirmed their support for it, including OKX, Bitget, Bitrue, HTX, and BitMart. All of them listed the token at launch.

Among these, Bitget also announced a $60,000 Pi airdrop pool for eligible users, which will be available until March 3, while BitMart will offer a $3,000 USDT Pi giveaway to 300 selected users.

In other news, Pi Network has also crossed 10 crore downloads in India on the Google Play Store.