Pi Network Trading Status in 2023
In 2023, Pi Network (Pi Coin) was still in the "Enclosed Mainnet" phase. This meant that while users could conduct transactions and use Pi coins within the Pi ecosystem, they could not exchange them for fiat currency or other crypto assets on external cryptocurrency exchanges. Any "Pi (IOU)" prices observed in the market at that time were speculative and did not represent the true value of Pi Coin.
During 2023, the Pi Network core team primarily focused on the following initiatives:
- Announcing the "Open Network Conditions" to lay the groundwork for the subsequent mainnet opening.
- Continuously conducting Know Your Customer (KYC) verification processes to prepare users for mainnet migration.
- Promoting mainnet migration, transferring eligible user balances to the mainnet.
- Strengthening node construction and ecosystem development, encouraging developers to build decentralized applications (dApps) on the Pi platform.
Pi Network Mainnet Opening and Trading Capability
Pi Network's Open Mainnet officially launched on February 20, 2025, removing the firewall that previously restricted external circulation of Pi Coin. Subsequently, on March 14, 2026, Pi Network reached the milestone of a broader community-stage Open Mainnet, further facilitating the circulation and trading of Pi Coin in external markets.
With the launch of the Open Mainnet, Pi Coin has been listed for spot trading on some cryptocurrency exchanges. As of the time of writing, platforms such as Kraken (listed in March 2026) and OKX support spot trading of Pi Coin. However, some mainstream exchanges like Binance and Coinbase have not yet listed Pi Coin.
Latest Developments and Market Data as of September 15, 2026
Pi Network's ecosystem and technological development are ongoing. According to the latest information, Pi Network plans to activate Protocol 27 on September 15, 2026, which is the last planned upgrade in the current sequence, aiming to enable more flexible smart contract authentication and further enhance network functionality and developer experience.
As of September 14, 2026, the market performance of Pi Coin is summarized as follows:
- Current Price: Approximately $0.09720.
- 24-hour Trading Volume: Approximately $4.55 million to $4.56 million.
- Market Cap: Approximately $1.09 billion.
- Circulating Supply: Approximately 11.19 billion PI, accounting for 11% of the total supply.
- All-Time High: Reached $2.98.
- Total Supply/Max Supply: 100 billion PI.
In terms of user base, as of early 2026, approximately 18 million users had completed KYC verification, with about 16 million users successfully migrated to the mainnet. The total number of registered users for Pi Network has reached approximately 60 million.
Market Outlook and Future Prospects
Pi Network has garnered widespread attention due to its massive user base, but its true utility and price discovery remain key market concerns. The project also faces some controversy and skepticism, with significant divergence in market views on its future value. Early predictions for Pi Coin's price were largely based on market speculation, and actual performance remains to be seen.
For users wishing to trade Pi Coin, operations can be conducted on supporting trading platforms, and it is important to note the high volatility and risk characteristics of the cryptocurrency market.
