Pi Network’s native token, PI, dropped more than 65% following the project’s highly anticipated mainnet launch. On Feb. 20, Pi Network announced that its “Open Network” had officially launched. The project said this allowed users to access centralized exchanges and other businesses beyond its ecosystem.

PI debuted at $1.70 at 09:00 UTC, rising to as high as $2.00. It was recently trading at $0.97. The initial surge sent the fully diluted value (FDV) to as high as $195 billion — almost double the value of the Solana blockchain's SOL.

The Pi Network mainnet launch has generated considerable market trading for the Pi Coin that saw pump and dump leaving investors on edge.

When the Pi Coin was launched, its price touched a remarkable all-time high of $2.10. However, on the same day, it crashed by 71 per cent to hit an all-time low of $0.6152.

Pi Network price initially jumped after the mainnet launch on Thursday, and then erased all those gains. Pi, the popular tap-to-earn token, was trading at $0.7290 on Friday morning, much lower than Thursday’s high of $2.

Pi Network launched its Open Mainnet on February 20, 2025, experiencing initial price volatility and exchange listings while enabling users to conduct external transactions for the first time in its six-year history.