Pi Network Token Hits $2.98 After 242% Surge, $3.5B Volume, Binance Listing Vote Looms

Pi Network's PI token has surged significantly following the launch of its Open Network on February 20, 2025. This milestone, delayed since 2022, now allows users to transfer their mined tokens outside the network, contributing to a 242% price increase in the past week.

The token has reached an all-time high of $2.98, with a fully diluted valuation (FDV) of $21.37 billion and a 24-hour trading volume exceeding $3.5 billion. It also saw a 36.77% rise in the past 24 hours to $2.58. The surge comes amid a broader crypto market downturn, where major cryptocurrencies like Bitcoin and Ethereum have seen steep declines.

Factors driving the rally include limited token supply, growing exchange listings, and speculation over a potential Binance listing. Pi Network's strong community of over 60 million users has also played a role in sustaining the price increase.

Despite the surge, Pi Network faces criticism and skepticism, including allegations of being a pyramid scheme and concerns over its transparency. The project has denied these claims, emphasizing its six-year development history and large user base. A Binance vote on listing the token could further impact its trajectory.

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