Key Takeaways
- The PI token from Pi Network experienced approximately 30% gains on Friday following Kraken’s listing announcement.
- This listing represents significant legitimacy as Kraken ranks among the industry’s top-tier cryptocurrency exchanges.
- The project employs a mobile application-based approach rather than conventional mining, boasting roughly 19 million users who passed KYC verification.
- The CEO of Bybit exchange declined to list PI and labeled it fraudulent, referencing a warning from Chinese authorities in 2023.
- Trading platforms including OKX, Gate, and Bitget currently offer PI, alongside various smaller exchanges.
The PI token from Pi Network experienced substantial growth during Asian trading hours on Friday. The price movement followed an announcement from cryptocurrency platform Kraken regarding its intention to list the digital asset.
Data from CoinGecko indicates that PI outperformed the wider cryptocurrency market, recording approximately 30% appreciation within a brief timeframe.
Kraken maintains its position as a premier cryptocurrency exchange. Its listing decision represents one of the most significant endorsements from an established platform that Pi Network has secured.
The PI token currently trades on multiple platforms, with OKX, Gate, and Bitget among the major exchanges offering access, complemented by various smaller trading venues.
Pi Network distinguishes itself from conventional cryptocurrency projects through its unique operational model. Rather than employing traditional proof-of-work mining methods, it utilizes a smartphone-based trust network requiring users to interact with a mobile application daily to accumulate tokens.
The architecture establishes identity-verified security networks that contribute to a consensus protocol adapted from Stellar’s technology.
Journey to Full Network Launch
The initiative activated its externally accessible mainnet during February 2025. The project reported approximately 19 million users with completed KYC verification and about 10 million successfully migrated accounts at launch.
Prior to its February 2025 mainnet activation, Pi Network functioned within an isolated environment for multiple years, preventing external connectivity and exchange access.
Kraken’s listing plan depends on Pi Network successfully completing its Open Mainnet transition. This final stage would enable PI tokens to circulate freely beyond the project’s restricted environment.
The development team established three prerequisites for Open Mainnet activation: completing identity verification for a substantial portion of its community exceeding 35 million members, developing practical utility applications, and identifying advantageous market timing.
Tokens presently available under the PI designation on certain platforms represent IOUs rather than official tokens endorsed by the core development team. Kraken’s listing would feature authentic PI tokens.
Token Supply Under Scrutiny
Pi Network established a maximum token supply of 100 billion units. This substantial supply frequently becomes a focal point in market analysis and price discussions surrounding the cryptocurrency.
Notwithstanding the positive listing development, the project remains subject to controversy. Ben Zhou, CEO of Bybit exchange, openly declined to list PI during February 2025, characterizing it as fraudulent.
Zhou referenced a 2023 advisory from Chinese law enforcement authorities, which claimed that Pi Network exploited elderly individuals, harvested personal data, and resulted in victims losing retirement funds.
Pi Network has not issued comprehensive public statements addressing these particular accusations.
The 30% price increase on Friday positioned PI among the market’s strongest performers that trading session, based on CoinGecko metrics.
Kraken has not provided a definitive listing date beyond indicating a provisional March 2026 timeframe.
