After years of development, the Pi Network team, led by Nicolas Kokkalis, has finally confirmed a launch date for its long-awaited mainnet. According to an announcement on X, the Open Network will officially go live on February 20, 2025.

This marks a major milestone for Pi Network, which has spent six years fine-tuning its unique approach to crypto mining. Unlike traditional cryptocurrencies that rely on expensive hardware, Pi allows users to mine coins with just their mobile phones. This has drawn in millions of users, but the big question remains – what happens when PI finally goes live?

With speculation running high and the price already surging, the upcoming launch could bring major shifts to the market. Here’s what you need to know.

PI Price Surges as Market Declines

While the total cryptocurrency market cap dropped by over 4 percent in the past 24 hours to around 3.27 trillion dollars, PI defied the trend, gaining 66 percent in the same period to trade at approximately 83.28 dollars. However, PI coins are still in the IOU phase, meaning they cannot yet be transferred across exchanges.

Despite this, excitement surrounding the mainnet launch has driven strong buying interest.

• Also Read :
•   Crypto Market Today (12th Feb, 2025): Bitcoin Holds $95K, FTX Leads Gainers with 5% Surge
•   ,

PI’s Market Valuation and Trading Activity

According to market data from Binance-backed Coinmarketcap, PI coins have a fully diluted valuation of about $5.5 billion with a total supply of around 68 million. In the last 24 hours, PI coins recorded a net trading volume of about $761k, up over 120 percent.

Will Early Holders Sell After the Mainnet Launch?

With the mainnet launch approaching, there is speculation that early holders may sell off their tokens once trading begins. Many Pi miners have been holding onto their tokens for over five years without the option to cash out. If a large number of them decide to sell at once, it could put pressure on the price.