After 6 years of waiting, users who have participated in mining Pi Network on the mobile app will soon be able to officially trade Pi on the exchange. The news of the PI mainnet launch and listing has generated a lot of mixed emotions in the community. This is also one of the most controversial cryptocurrency projects in the world.
Here are some highlights about Pi Network before the listing day, compiled by BeInCrypto.
Also Read: Pi Network to Open Network on 20/02/2025
#1. India, Nigeria, Vietnam are the 3 countries with the most access to Pi Network
SimilarWeb data shows that the average monthly traffic to the Pi Network website is around 7.5 million. Among them, the leading countries in access are Nigeria, India and Vietnam ranked 3rd. India is also the country with the highest global cryptocurrency adoption index in 2024, according to Chainalysis.
The countries with the most access to Minepi.com. Source: SimilarWebVietnam ranks 3rd with 9.5% of the website traffic. In fact, the Pi Vietnam community has been active since the early days of Pi's appearance about 6 years ago. And although Pi is not recognized as a means of payment by Vietnamese law, many Pi users still use Pi to exchange goods.
In South Korea, by the end of 2025, Pi Network will be among the top three cryptocurrency apps, with 1.34 million users, ranking behind Bithumb (2.24 million) and Upbit (4.63 million).
#2. The largest multi-level marketing model in China is related to Pi Network
It can be seen that the ranking of access to the Pi Network website does not include China. But according to the disclosure of famous Chinese cryptocurrency journalist and blogger @Colin Wu, Pi Network is being used by the largest multi-level marketing model in China.
"What is PI: The largest MLM model in China." - Colin Wu said.
In Wu's latest share when Pi Network announced it will open the network on February 20, Wu warned not to report on this project in China because the government is very strict with projects related to fraud. He also revealed that his friend had legal troubles when his product was used by multi-level marketing groups.
"Regarding this PI, if you still want to occasionally return to mainland China, I advise you not to report on it, not to get involved. Recently, a very reliable friend of mine was arrested abroad just because his product was once used by multi-level marketing groups. All industries related to multi-level marketing are the target of strict suppression. People should have some legal knowledge. Just because nothing has happened yet does not mean you are lucky, as soon as something happens, the whole family will face disaster." - Colin Wu said.
#3. Wave of Pi Network (PI) accumulation in Vietnam as the project officially opens the network
As one of the most active Pi Network communities in the world, many users in Vietnam are excited about the Pi mainnet news. This has sparked a wave of PI purchases before the listing. A well-known OTC trader in the community has lost buying PI at a price of over 30,000 VND.
According to community observations, the PI price on the OTC market today (12/2) has continued to rise above 30,000 VND and reached 50,000 VND. This means that many investors expect PI to be priced around $1.5 - $2. With more than a week left until the listing date, the Pi Network OTC market in Vietnam is likely to remain active.
With the maximum supply of 100 billion PI announced by the OKX exchange, this means that investors are valuing the Pi Network (PI) at an FDV of nearly $200 billion, higher than Solana and double BNB. If calculated based on the circulating supply of 6 billion PI, PI could have a market capitalization of $6 billion - $12 billion.
#4. The Vietnamese Ministry of Public Security has previously warned about Pi Network
In mid-2023, Lieutenant General Le Xuan Minh, Deputy Director of the Cyber Security and High-Tech Crime Prevention Department (A05) of the Ministry of Public Security, provided some information related to the cryptocurrency Pi transactions. Lieutenant General Le Xuan Minh said that the activities related to Pi in Vietnam have signs of attracting and taking money from people in a binary, multi-level business model.
"There is no business activity that has such high profit rates. The signs of attraction, multi-level activities have very high risks for participants, and I urge the public to be vigilant to avoid asset losses," the Deputy Director of A05 warned.
At offline events of the Pi Network community, there have been users claiming "1 Pi cryptocurrency is worth 7 billion VND" which caused a stir. However, since mid-2023, there have been no new conclusions or updates on the investigation into this project from the authorities in Vietnam.
#5. Pi Network attracts an older generation of investors into the market
In Vietnam, even when OKX announced the listing of Pi, many investors still maintain a skeptical attitude. Those who previously opposed the project expressed mockery, while others expressed surprise.
Observing the Pi community at offline events, the majority of Pi users are of medium to high age. Therefore, the listing of PI will attract a large number of older investors into the market. A few influential accounts in the community have made similar predictions.
Bit, Block, Capital, DeFi, Dump, Max Supply, Spot Trading, Medium, Crypto.com, chain, Also Read, BNB, Solana, TRON, Chia, Kin, SOL, HT, XEM, OP, AR, RON, ONG, OKX, Bithumb, Upbit This prediction may be satirical. Investors over the age of 50 are usually less exposed to DeFi concepts or blockchain-related concepts. However, for now, when OKX announced support for PI spot trading, this exchange itself has attracted a new user base from the Pi Network. Along with the interest in PI listing, the interest in creating an OKX account has also increased. Subscribe to the BeInCrypto Newsletter to stay up-to-date on the latest analysis and news on the financial market in general and cryptocurrencies in particular."I'm very happy about the Pi listing, as it will bring in a generation of F0 investors over 50 who are just starting to use CEX and blockchain, creating a new stream of capital to save tech coins, even if tech coins fail." - Nambit - CEO of Holdstation predicted.
