Pi Network (PI) News Recap March 7th

TL;DR

• Pi Network launched its Open Network on February 20. A few weeks later, it gained over 4 million followers on X (formerly Twitter).

• PI’s price may experience volatility if Binance lists the token, as the community overwhelmingly voted in favor of it.

The Latest Developments

Pi Network has completed some serious achievements over the past few weeks. Perhaps the most important one is the launch of the Open Network, which occurred on February 20. The development made the PI token publicly accessible and enabled exchanges to list it. Among the first to embrace it were Bitget, OKX, MEXC, and others. 

The asset’s price experienced huge turbulence during its first trading days, hovering between $0.65 and an all-time high of almost $3 on February 27. Currently, PI trades at roughly $1.80 (per CoinGecko’s data).

The aforementioned milestone has potentially increased the project’s popularity. As CryptoPotato reported, Pi Network’s followers base on X (formerly Twitter) has surged past four million. Thus, it surpassed Shiba Inu (3.9 million subscribers) and Ethereum (3.7 million followers). 

Despite the progress, the project remains quite controversial, with some industry participants describing it as a scam. Meanwhile, many users still have not completed Know-Your-Customer (KYC) procedures and migrated to the mainnet. 

The team previously set February 28 as a deadline for these efforts, but as usual, it extended the date. Last week, it moved the Grace Period to March 14.

“This extension especially helps Pioneers who have recently returned and want to reengage with the network now that Open Network is live, upholding Pi’s core objectives of inclusivity and fairness. Submit your KYC application and complete your Mainnet Checklist by 8:00 am UTC on March 14, 2025, to avoid any forfeiture,” the disclosure reads.

Waiting for Binance’s Move

The price of PI has recently stabilized at around $1.80, but it may soon experience a new bout of turbulence. One factor that can trigger substantial volatility is Binance’s decision to list the token on its platform.

Last month, the world’s biggest crypto exchange held a community vote to determine whether its users would want to see the token available for trading. The results became official on February 27, with over 86% of the voters clicking the “yes” option. Despite the overwhelming support, Binance has remained silent on the matter.

Such a listing would increase PI’s liquidity and boost its accessibility. This, in turn, could spark an upward pressure for the valuation.