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Pi Coin (PI) is currently under heavy pressure as the broader cryptocurrency market remains trapped in a prolonged downturn. Total crypto market capitalization has slipped below the $2.4 trillion mark, creating a challenging environment for most altcoins.
Amid this “red wave,” Pi Coin recently printed a new all-time low around $0.13, before staging a modest rebound toward $0.15, supported by Bitcoin’s recovery back above $70,000. Despite the short-term bounce, overall sentiment around Pi Network remains fragile.
However, renewed optimism has emerged following rumors that Kraken may list Pi Coin in 2026, reigniting discussion across the Pi community.
Kraken’s 2026 Roadmap Sparks Hope Among Pioneers
Speculation around a Kraken listing gained traction after the exchange reportedly added Pi Coin to its 2026 development roadmap, which highlights plans to “integrate new blockchains and list native tokens for trading.” While this does not confirm an immediate spot listing, it signals that Pi Network may be under long-term consideration.
Notably, Kraken already enabled Pi Coin futures trading several months ago, offering leverage of up to 20x. Despite this, the exchange—like Binance and KuCoin—has remained cautious about launching Pi Coin on the spot market.
In contrast, platforms such as MEXC and OKX moved faster by listing Pi Coin earlier. However, these listings failed to prevent PI’s sharp price decline, underscoring deeper structural issues within the project.
Price Performance and Ongoing Mainnet Challenges
After briefly reaching an all-time high of $2.99 during the first week of its mainnet debut, Pi Coin’s price trajectory has deteriorated significantly. The token has continued to form lower lows across multiple timeframes, while mining activity has accelerated to record levels.
At the same time, mainnet migration has been slowed by persistent KYC verification issues, preventing many Pioneers from fully transitioning their balances. These delays have weighed heavily on market confidence and liquidity.
Can a Kraken Listing Change Pi’s Trajectory?
The possibility of a Kraken spot listing has injected fresh hope into the Pi ecosystem. If realized, such an event could act as a major catalyst—improving visibility, restoring confidence, and potentially boosting liquidity.
That said, Pi Network still faces notable hurdles. Large holders have gradually exited the market, pushing PI out of the top 50 cryptocurrencies by market capitalization. Currently, Pi Coin maintains a market cap of approximately $1.33 billion, but spot trading volume sits at just $33 million, reflecting subdued investor interest.
For Pi to regain momentum, improvements in liquidity, transparency, and mainnet execution will be essential—regardless of whether a Kraken listing materializes.
Outlook
A potential Kraken listing in 2026 could mark a pivotal moment for Pi Network, but it is not a guaranteed solution. The project’s long-term success will depend on its ability to resolve core operational challenges and rebuild trust across the broader crypto market.
As always, upcoming developments should be monitored closely.
Disclaimer:
This article is for informational purposes only and represents a personal blog-style analysis. It does not constitute financial or investment advice. Investors should conduct their own research before making any investment decisions. The author is not responsible for any losses incurred.
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The cryptocurrency landscape is set for a transformative shift as Pi Network, one of the most anticipated projects in the space, prepares to transition to its Open Mainnet on February 20, 2025. This milestone marks the culmination of years of development and testing, unlocking the potential for real-world utility and broader adoption of the Pi ecosystem.
Since its inception, Pi Network has operated in a closed Mainnet environment, beginning in December 2021. During this phase, the network prioritized security and stability by restricting external connectivity. However, the upcoming Open Mainnet launch will remove these barriers, enabling seamless integration with external blockchain networks, traditional financial systems, and decentralized applications. For millions of users known as Pioneers this transition represents the moment they’ve been waiting for: the ability to utilize their mined Pi tokens in everyday transactions and innovative projects.
Surpassing Expectations: From Vision to Reality
Initially aiming to onboard 10 million users, Pi Network has far exceeded expectations, boasting 19 million verified Pioneers as it approaches its Open Mainnet debut. This achievement underscores the project’s evolution from a simple cryptocurrency to a dynamic ecosystem supported by a passionate global community. Key preparatory steps, such as widespread KYC verifications, developer toolkits for app creation, and infrastructure enhancements, have laid the groundwork for this next phase.
Exchanges and Liquidity: Pi Goes Global
The transition to Open Mainnet has already sparked significant interest from cryptocurrency exchanges. Leading tier-1 exchanges has announced plans to launch PI/USDT spot trading on February 20, a move poised to enhance Pi’s liquidity and accessibility. This integration with major exchanges will empower users to trade Pi tokens freely while attracting new investors eager to participate in the network’s growth.
Unlocking Real-World Potential
The shift to an open ecosystem unlocks transformative opportunities for Pi Network:
Cross-Chain Interoperability: Pi will interact with other blockchain networks, enabling asset transfers and collaborations across platforms.DeFi and NFT Integration: Developers can now incorporate Pi into decentralized finance protocols, NFT marketplaces, and other Web3 innovations.Mainstream Adoption: Businesses and service providers may begin accepting Pi as payment, bridging the gap between digital currency and everyday commerce.
A Community-Driven Future
For Pioneers who have contributed to Pi Network’s growth through years of mining and engagement, the Open Mainnet launch is a validation of their dedication. As the ecosystem expands, users will witness Pi’s integration into diverse applications from remittances and e-commerce to gaming and social platforms.
Road Ahead
February 20, 2025, is not just a technical upgrade; it’s the dawn of a new chapter for decentralized technologies. Pi Network’s journey reflects the power of community-driven innovation, proving that grassroots efforts can redefine the crypto landscape. As exchanges, developers, and users embrace this open era, the true impact of Pi will unfold, shaping the future of digital economies.
The countdown has begun. For Pioneers and newcomers alike, the Open Mainnet era promises to turn years of anticipation into tangible possibilities. Welcome to the next frontier of blockchain.

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