Site icon Signpost News

Countdown to Pi Network Launch on Feb 20

Naorem Mohen Naorem Mohen
Countdown to Pi Network’s Open Mainnet Launch on Feb 20

Countdown to Pi Network’s Open Mainnet Launch on Feb 20.

Pi Network is on the cusp of a major milestone with the upcoming launch of its Open Mainnet on February 20, 2025. This transition will mark the shift from a closed testing phase to a fully decentralized network, allowing Pi Coin to be traded on prominent cryptocurrency exchanges. As the launch date approaches, Pi Coin has garnered significant attention, capturing the interest of traders and early adopters worldwide. Moreover, Over the past 12 hours, Pi Network has shown remarkable price stability, consistently maintaining a level above $100.

Key Features and Specifications

Market Expectations

As the Open Mainnet launch nears, Pi Network’s price is gaining traction. With millions of early adopters and growing speculation, traders are eager to see how Pi Coin performs when real trading begins. Key factors influencing its valuation include exchange listings, early holders’ actions, and market price anchoring. As launch day approaches, expectations are high for Pi Network’s official entry into the crypto market. Bitcoin’s price is currently hovering above $96k.

Recent Price Movements

The anticipation of Pi Network’s Open Mainnet launch has led to significant price movements. Following its OKX listing, Pi Coin experienced a 100% surge in price, fueling speculation about a possible Binance listing. This price rally saw Pi Coin jump from $50 to over $70, with a 50% increase in the past week alone. However, neither Binance nor the Pi Core Team has confirmed any such plans, leaving traders uncertain.

Community Response and Voting

Pi Network, a project six years in the making, has received mixed reactions from the crypto community. Some members believe the development phase has been excessively long, while supporters argue that its innovative approach to mobile mining and global adoption make it one of the best products in the crypto space. Following the ongoing debate about the token’s legitimacy, Binance has announced a community vote to determine whether Pi should be listed on the exchange.

On Monday, Binance, the largest crypto exchange by trading volume, announced on Binance Square that users who wish to participate must be logged into their verified accounts holding at least $5 throughout the voting period. Each user can cast a single vote between February 17, 2025, at 14:45 UTC and February 27, 2025, at 23:59 UTC. Votes will be counted only if posted under the official Binance Square announcement. Daily updates on voting results will be provided, but Binance insists the final results will only be confirmed after removing non-eligible votes and those that violate the platform’s conditions.

Analysts Defend Pi Network’s Credibility

Pi Network has long faced criticism for its “long development process” and lack of exchange listings. Some skeptics compare it to past Ponzi schemes, while others accuse the team of stalling its launch to maintain engagement. Analyst Kim Wong, in a February 16 post on X, defended Pi’s credibility, stating it’s the only crypto network to “allow instantaneous cross-border bartering and transactions.”

According to Wong, Pi has been distributed in over 200 countries, boasting over 100 million registered users, of which 65 million remain active. He explained that 19 million users have completed KYC verification, with approximately 10.5 million already holding Pi in their wallets. “Pi Network has been distributing wealth to all the people in the world, whoever wants it, for free. This has benefited millions,” Wong continued, “If you still think Pi Network is a scam, you are really falling behind and need to catch up!”

Another analyst on X, known as nanashi_life, challenged some of the most common accusations naysayers have pinned on Pi Network. He addressed concerns over Pi’s legitimacy, arguing that its social mining model was misunderstood. Unlike traditional mining, Pi allowed early adopters to earn more, with issuance decreasing over time. The trading expert also defended the project’s lengthy KYC process, explaining that it was implemented to “filter out bots and ensure real human participation.” In his last point, nanashi_life argued that the absence of official exchange listings was a deliberate strategy rather than a red flag. “Instead of rushing to an exchange, Pi built its own internal economy first—a move few understood at the time.”

Ongoing Criticism

Still, not everyone is convinced by these defenses. A series of market experts on social media have explicitly called the upcoming token a “scam” in the waiting. Prominent crypto trading expert Asif.eth insinuated that the Pi core development team announced the project’s mainnet, Open Network, is launching on February 20 because “they realized crime in the crypto industry is legal now.” “The President of the United States is launching memecoins, why can’t us.

Pi Network is and will be a scam. I know many will come to me and say ‘it is getting listed, bro.’ Binance is even listing the shittiest of shitcoins in under 24 hours,” he denoted. Asif further accused the team of exploiting user data for profit, pointing out the advertisements within the app as a sign of revenue generation at the users’ expense. He warned those who received Pi tokens via airdrops to “sell them immediately.”

Pi Members Seeking Attention from Elon Musk

The Pi Network community recently reached out to Elon Musk, attempting to catch his attention and explore Pi Network. In a post on X, a community member named Dr. Picoin stated that Musk asked for a combination of Web3 and blockchain, and the solution is here: the Pi Network. Dr. Picoin highlighted Pi’s strengths such as high transaction speed, low fees, scalability, and accessibility, positioning it as a potential mass-adopted peer-to-peer (P2P) digital currency.

This engagement comes as the Pi Network approaches the long-anticipated Open Network launch. Dr. Picoin pointed out that Pi Network boasts over 70 million users across 200+ countries and regions. The message also highlighted Pi Network’s Know Your Business (KYB) and Know Your Customer (KYC) procedures, which help create a secure and inclusive digital space.

Elon Musk is known to respond to projects that intrigue him, often connecting random situations to DOGE in his eccentric tweets. Although he has not responded to Dr. Picoin’s post, this outreach reflects the Pi Network community’s continuous attempts to become well-known and draw in prominent tech figures. The Pi Network community has previously speculated about Musk’s potential interest in Pi, especially after misconceptions arose regarding his engagement with Pi-related accounts. In reality, no confirmed connection exists between Musk and Pi Network.

Global Consensus Value (GCV) and Pi Pioneers’ Expectations

The Pi Network community has reached a Global Consensus Value (GCV) for Pi Coin, which is expected to be a significant factor in its market performance post-launch. Pi Pioneers, the early adopters of the network, have high expectations for the value of Pi Coin which suggests 1 Pi equals $314159, given its innovative approach to mobile mining and global reach. They anticipate that the token’s unique features will drive substantial demand and adoption, potentially leading to a strong market presence and significant value appreciation.

Future Projections

As Pi Network approaches its Open Mainnet launch, market speculation is rife with excitement and anticipation. Analysts predict that Pi Coin could reach significant price levels if it breaks key resistance points. Some experts believe that Pi Coin could reach $150 by the end of 2025, with further projections suggesting it could soar to $500 by 2030. These projections are based on factors such as exchange listings, user adoption, and overall market sentiment.

Conclusion

The launch of the Open Mainnet is expected to drive mass adoption and increase the value of Pi Coin. Analysts predict that Pi Coin could reach significant price levels if it breaks key resistance points. However, the absence of listings from major exchanges like Binance has raised some concerns among investors.

As businesses worldwide embrace this cutting-edge tool, Pi Network’s innovative approach serves as a reminder of the transformative power of AI. The company’s ability to harness this technology and create a tool that significantly enhances customer interactions speaks volumes about its forward-thinking mindset and commitment to excellence.

Exit mobile version