Pi Network Captures the Attention of Millions of Users with the Promise of a Cryptocurrency That Can Be Mined Directly from a Mobile Phone

Since its inception, Pi Network has captured the attention of millions of users around the world with the promise of a cryptocurrency that can be mined directly from a mobile phone.

Since its inception, Pi Network has captivated millions of users worldwide with its promise of a cryptocurrency that can be mined directly from a mobile phone. However, over time, the great expectations from the community to see Pi Coin (PI) listed on leading crypto exchanges like Binance started to fade.

Despite strong community support – as evidenced by the results of a February poll showing that 86% of respondents wanted a Pi Coin listing – in reality, there’s no sign yet that Binance will make this happen.

On May 21, 2025, the price of Pi Network (PI) was recorded at $0.7656, having risen 3.2% in the last 24 hours. If converted to the current rupiah ($1 = IDR 16,407), then 1 Pi Network is IDR 12,561.

In the 24-hour period, the price of PI moved in the range of $0.7253 to $0.7728, showing quite active volatility. This increase was also reflected in the movement of the price chart which showed a gradual upward trend throughout the day.

Pi Network’s market capitalization currently stands at around $5.5 billion, with a daily trading volume of $203.9 million, despite a slight decline.

Losing more than 50% of its value in the past week, Pi Network’s native cryptocurrency, Pi Coin, is now stabilizing around $0.70.

However, negative pressure is still looming as as many as 5.7 million pi tokens will be released to the market today, which could add to the supply and put further pressure on the altcoin’s price.

On the other hand, the total amount of Pi Coin deposits on exchanges has reached a record high. Market data shows that the amount of Pi Coin deposited on exchanges has increased to 397 million, the highest figure so far.

The increase in Pi Coin holdings on these exchanges is expected to continue to rise following today’s scheduled token release, which will add to the supply in the market. Analysts are now closely watching this development and the potential selling pressure that may arise.

A well-known crypto influencer, Dr. Altcoin, recently raised serious concerns regarding the transparency of the Pi Network core team.

He claims that the team manages more than 10,000 Pi Coin wallets and sub-wallets, although only the seven largest wallets can be easily tracked by the Pi community.

Dr. Altcoin also criticized some members of the Pi community, known as Pioneers, for defending the core team despite the allegations and despite claims that the team has not sold a single Pi token.

“People who think logically will demand accountability and transparency first,” he said, urging the community to prioritize self-interest and collective responsibility over blind trust.

To date, Pi’s core team has not provided an official response to these allegations.

The announcement of the launch of the $100 million Pi Network Ventures was met with disappointment by the community. Although Pi’s core team invited developers and startups to build decentralized applications (dApps) on its network, many members of the Pioneer community felt betrayed.

Pi Network founder Nicolas Kokkalis made a public appearance at the Consensus 2025 event on May 16. However, around the same time, the value of Pi Coin plummeted by 18% again, reflecting the decline in community confidence.

The Pi Network community is actively pushing for Pi Coin (PI) to be listed on major exchanges like Binance.

In a community poll in February, 86% of participants expressed support for the listing of Pi Coin.

However, there has been no significant progress in these efforts to date, which has reignited concerns about the credibility of the pi network.

Binance, which is known for its very strict evaluation process, has not yet given approval to list Pi Coin on its platform.