Pi Network has finally pulled the trigger on its mainnet launch. With the hype literally "shooting the moon," do we think the Bitcoin throne finally has a worthy challenger?
The hype? Unreal. This was the moment Pi Coin was supposed to go from app-based fantasy to legitimate, tradable cryptocurrency. And for a hot minute, it looked like it was happening—prices soared, early adopters cheered, and Twitter (sorry, X) was drowning in moon emojis. Pi first spiked to $1.97, crashed to $0.737, then rebounded 80%, then bounced back all the way to $0.76. That's pretty low for a coin that was projected to hit $50 at some point.
The $50 Dream
Yes, about that $50 dream, it turns out reality had other plans. There was a ton of speculation (and, let's be honest, wishing) that Pi Coin would debut at a sky-high price, with $50 being one of the most popular numbers. Some die-hard believers even claimed it would reach $100 or more. That being said, however, when the mainnet finally launched, Pi's opening price on exchanges was a much more "modest" $1.97. Why the huge discrepancy?
A few reasons. First, many of these high numbers were just "ball-park" numbers and aren't really based on anything concrete, just community hype and possible comparisons to the early days of Bitcoin. Second, real-world trading prices are dictated by supply, demand, and market sentiment, not just what people want them to be. And third, even though Pi is now tradable, not all users have access to their full holdings yet, which affects liquidity. So $50? Maybe one day for sure, but not yet.
Mainnet Launch
Now that the mainnet is live, the million-dollar question is "What's next?" Does this mean major exchanges might finally start listing Pi coins? Right now, Pi's price is up and down like an old seesaw and currently at $0.76, with some exchanges even listing unofficial IOUs instead of the actual coin. Until there's clarity on listings and widespread adoption, it's hard to say if Pi is the next Bitcoin or just another ambitious project that couldn't escape its own hype.
Then there's the obvious question of utility. Cryptocurrency enthusiasts love to dream of building truly decentralized economies, and there's nothing wrong with that. Ultimately, though, if no one is actually going to use their Pi coins for anything other than speculative trading, it's going to be difficult to guarantee its long-term survival. Furthermore, while the team has plans, partnerships, dApps, and all that good stuff, execution is everything, and for now, Pi still has a lot to prove.
Ecosystem and integrations
Pi already has several integrations. Take Pi Care, for example, allows users to report issues directly to developers, making troubleshooting more streamlined. Then there's PiGame, where you can actually earn Pi just by playing. Explore Pi serves as a mobile-friendly block explorer, giving users insight into transactions and network activity.
On the more practical side, Workforce Pool connects employers and freelancers worldwide, with payments processed entirely in Pi. Meanwhile, 1Pi Mall is an e-commerce platform where every transaction is made in Pi Coin, with no fiat involved. And let's not forget PiFest and the .pi Domains Auction, events designed to further push Pi's adoption into the real world.
Areas for improvement
Despite these integrations, however, the ecosystem Pi Network is trying to build still feels incomplete as everything still exists within its own strongholds. With adoption mostly limited to its own community, it's less likely that its demand will be pushed through the roof like Bitcoin did. Yes, there are apps and integrations as we mentioned above, but do we know how many people are actually using them at scale?
For Pi Coin to enter mainstream commerce like Bitcoin did in the early days, we need real businesses (not just Pi Network initiatives) to start accepting it as payment. Until that happens, it's still in the "promising but unproven" phase. So, while there are integrations, Pi's broader utility remains a work in progress, which isn't a bad thing, but still a long way from making Pi Coin owners "Bitcoin-Rich."
The bottom line
So, will Pi Coin be the next Bitcoin? The truth is, it's too early to tell. Pi certainly has the numbers, millions of users, and an active community. The problem is, that alone doesn't guarantee success. As we've already mentioned, the real test will be whether Pi Coin becomes something people actually use, not just hold on to and hope for.
If the team can realize its vision, integrate Pi into real-world applications, and stabilize its business environment, then maybe, just maybe, this could be the start of something big. Either way, the ride is far from over, so if you're holding on and hoping, buckle up—it could get interesting.
