Picture this: 60 million people worldwide, including tons of us in India, are waiting for Pi Network’s Open Mainnet to drop

This crypto story's just getting started—and I'm stoked to be covering it.

60 million people worldwide, including a massive portion in India, eagerly awaited the launch of Pi Network’s Open Mainnet on February 20, 2025. Ahead of the launch, "IOU" tokens were briskly trading online, reaching highs of $50 and sparking dreams of a crypto lottery with prices touching $300. However, a mere week later, the real Pi Coin price stands at $2 or ₹180 in India. So, what happened to all the hype?

Why Is Pi Stuck at $2–$3?

The question on everyone’s mind is: why isn’t Pi at $300—or even $50? Here’s the breakdown:

• Billions of pre-mined Pi flooded the market. With a 100 billion total supply cap, the 6 billion out now kill any scarcity vibes. Everyone got them free; all we had to do was tap once a day in the app.

• Heavyweights like Binance haven’t listed Pi yet. They will make community votes but not list the tokens. Bybit started a beef with the network; had the exchange not been hacked, the drama would have intensified.

• Pi’s got 100+ apps ready and events like PiFest 2024, but you can’t exactly buy chai with it yet. It’s still more hype than help.

• Prices swung 80%, and billions traded daily before settling at $2–$3.

• Those IOU prices? Total fantasy. Real Pi Coin’s playing by supply-and-demand rules now, not daydreams.

Pi Coin 101 for Traders: The Latest

Alright, let’s break it down as of March 1, 2025:

What is the Pi coin price?

As per data from CoinMarketCap, the Pi coin price is $2.08 on OKX, MEXC, HTX, and Bitget, the trading exchanges for Pi coin.

What Is Pi Coin Price in India?

At $1.8 to $2.2, the Pi coin price is ₹157 to ₹192 in India, considering the dollar to INR exchange at ₹87.5.

Where can you trade Pi coin?

OKX, Bitget, HTX, and Gate.io have it, but regional regulation can stop users from trading.

Is It Legal to Use Pi Coin in India?

Yes, trading and holding crypto is legal, with a 30% tax on profits and 1% TDS on transactions. However, users must use FIU-registered exchanges to comply fully. Unregistered platforms like HTX and Gate.io aren’t lawful options without clarification of their status.

From IOU Dreams to Mainnet Reality

Before the big day, Pi IOUs were just placeholders, not real coins. People traded them like Pokémon cards, with prices hitting $50–$300 based on pure vibes, not value. Then, boom—February 20, 8:00 AM UTC, the Open Mainnet launched. According to coinmarketcap, Pi Coin hit exchanges like OKX, Bitget, HTX, and Gate.io, kicking off at $2.29 with a wild $1 billion in trading volume. Some quick math (about 6 billion tokens migrated) suggested a $12–$14 billion market cap. Insane, right?

But where is the hype now? Where is the enthusiasm of pioneers?

Early miners who got Pi for free started dumping it fast. X posts were like, “Pi coin released, and it’s a sell-off frenzy!” The price tanked to $0.737 in days before chilling around $1.60–$2. It’s the classic crypto rollercoaster—big dreams, bigger reality checks.

The GCV Fiasco

While many are struggling to fill the gap between IOU coins and Real ones, The GCV group that boosted the price of $314159 are still unwavering from their strong faiths, they continue to believe pi will be actually this high in near future.

What’s Next for Pi

Pi’s $2–$3 price shows a market figuring itself out after a supply dump and limited reach. For us in India, VPNs and apps are how we’re jumping on HTX and Gate.io, but it’s a gamble. Safer bets like Binance or Indian exchanges could change the game if Pi lands there. Looking ahead, some say $5–$10 by year-end if adoption kicks in; in Indian currency, that price is roughly ₹500 to ₹1000. Not many can