Pi Network (PI) Soars 30% Following Kraken Exchange Listing Announcement
Key Takeaways
- The PI token from Pi Network experienced approximately 30% gains on Friday following Kraken’s listing announcement.
- The listing on Kraken, a tier-1 cryptocurrency exchange, represents significant legitimacy for the controversial project.
- Rather than conventional mining operations, Pi Network employs a mobile application-based approach with approximately 19 million verified users.
- Bybit’s leadership has previously declined to list PI, labeling it fraudulent based on a Chinese authorities’ 2023 alert.
- The token currently trades on OKX, Gate, Bitget, and various smaller trading platforms.
The PI token from Pi Network experienced a notable price increase during Friday’s Asian trading session. This upward movement followed a listing announcement from major cryptocurrency exchange Kraken.
PI Network (PI) Price
Data from CoinGecko indicates that PI emerged as a market leader, registering approximately 30% gains within a compressed timeframe.
Kraken maintains its reputation as a premier cryptocurrency trading platform. The exchange’s decision to list PI represents perhaps the most significant endorsement the Pi Network initiative has secured from an external entity.
The token already maintains trading availability across multiple platforms, including OKX, Gate, and Bitget, in addition to various smaller exchanges.
Pi Network distinguishes itself through an unconventional approach to cryptocurrency operations. The project eschews traditional proof-of-work mining in favor of a mobile-centric trust network where participants interact with an application daily to accumulate tokens.
This architecture creates identity-authenticated security networks that integrate with a consensus framework adapted from Stellar’s protocol.
Transition to Unrestricted Mainnet
The initiative activated its externally accessible mainnet during February 2025. At that juncture, the project documented approximately 19 million identity-verified participants and roughly 10 million successfully migrated wallets.
Prior to the February 2025 deployment, Pi Network functioned within an isolated environment for multiple years, prohibiting external connectivity and exchange integration.
Kraken’s listing remains conditional upon Pi Network finalizing its Open Mainnet transition. This milestone would enable PI to trade freely beyond the project’s controlled environment.
The Pi Core Team established three requirements for Open Mainnet activation: verifying identity for a substantial portion of its 35 million-plus user base, developing practical utility applications, and encountering advantageous market circumstances.
Tokens presently exchanging under the PI designation on certain platforms represent IOUs rather than official tokens endorsed by the Pi Core Team. A Kraken listing would feature authentic PI.
Token Supply Questions Remain
Pi Network maintains a complete token allocation of 100 billion units. This substantial supply represents a consideration that analysts frequently emphasize when evaluating the token’s valuation potential.
Despite the positive listing development, the project remains subject to ongoing scrutiny. Bybit’s CEO Ben Zhou openly declined to list PI during February 2025, characterizing it as fraudulent.
Zhou referenced a 2023 advisory from Chinese law enforcement, which claimed that Pi Network exploited elderly individuals, harvested personal data, and resulted in some participants losing retirement funds.
Pi Network has not issued comprehensive public statements addressing these particular accusations.
Friday’s 30% price increase positioned PI among the day’s strongest performing digital assets, based on CoinGecko analytics.
Kraken has yet to specify a definitive listing date beyond its preliminary March 2026 projection.
The post Pi Network (PI) Soars 30% Following Kraken Exchange Listing Announcement appeared first on Blockonomi.
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