The Pi Network officially entered the Open Network phase on 20/2/2025, pushing the price of Pi Coin up 80% to $92.
On 12/2, Pi Network, a controversial cryptocurrency project, announced the transition to the Open Network phase on the Mainnet on 20/2. This information immediately created a strong impact on the price of Pi Coin, causing its value to surge 80%, reaching $92 within a few hours.
This is considered an important step after more than 6 years of development, marking the transformation of Pi Network from the testing phase to the official operating phase, allowing connection with other blockchains and expanding application capabilities in the real world.
Potential and Challenges in the New Phase
The transition to the Open Network marks the completion of the previous Enclosed Network and Grace Period phases, focusing on perfecting the KYC process and building the core application. With more than 19 million users having completed KYC (exceeding the initial target of 10.14 million), Pi Network has proven its certain appeal within the community.
The Open Network phase will focus on expanding the ecosystem, inviting the participation of developers and businesses. Currently, there are more than 100 applications ready on the Mainnet, laying the foundation for the application of Pi Coin in real life.
However, the strong price increase of Pi Coin after the announcement also raises many questions about its sustainability. Although the user community (Pioneers) expects Pi Coin to continue to rise in price when the Open Network is officially launched, experts remain cautious and consider this only speculation.
During the Open Network phase, all users will have to complete KYC and KYB (Know Your Business) to ensure transaction security. This may create barriers for some users and affect the development speed of the network.
