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Feb 23, 2025 09:23 AM IST
Pi Coin, the newest cryptocurrency to get listed on multiple crypto exchanges has climbed 80.23% from the previous trading session to hit $1.29 in value, according to Coin Market Cap data.
This comes after Pi Network officially opened to external trading on Thursday, February 20 and it happened after years of anticipation from the coin's investors.
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Pi Coin is a cryptocurrency that uses the Web3 ecosystem and allows the registered members of its network to mine coins for free without the energy-intensive methods that other cryptocurrencies use.
Users have to simply open the Pi app and prove their presence by hitting a button once every 24 hour for which, they get awarded small portions of the coin. Referrals to other users result in greater portions being awarded.
The rise in value comes after the coin dropped by over 60% to $0.737 on Friday, February 21, 2025, a day after its listing. It had peaked to $1.97 before this.
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As of now, Pi claims a network of over 60 million members worldwide and was founded in 2019 by Nicolas Kokkalis and Chengdiao Fan, both Stanford Ph. Ds.
Multiple centralised exchanges had confirmed their support for it, including OKX, Bitget, Bitrue, HTX, and BitMart. All of them listed the token at launch.
On top of this, Bitget also had announced a $60,000 Pi airdrop pool for eligible users, which will go on until March 3 and BitMart will offer a $3,000 USDT Pi giveaway to 300 selected users.
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Pi Network has also surpassed 10 crore downloads in India in the Google Play Store.
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