Pi Network (PI) Price Today

Pi Network's all-time high is $2.98, reached on February 26, 2025. At today's price of $0.0856, PI trades 97.1% below that peak. Its lowest recorded price was $0.1107 on July 6, 2026.

Over the past 30 days PI has moved −27.09% and over the past 90 days −50.67%.

Circulating supply is 10,991,757,596 PI , against a maximum supply of 100,000,000,000 PI. Max supply is 100 billion PI — 65% community mining rewards, 20% core team, 10% foundation, 5% liquidity — with only about 11% circulating as of mid-2026. On-chain analyses attribute roughly 82.8 billion PI to core-team-controlled wallets, scheduled unlocks add about 1.2 billion PI across 2026, and there is no burn mechanism.

What moves Pi Network's price

• The unlock schedule: with roughly 11% of the 100 billion max supply circulating, monthly unlocks — around 215 million PI in July 2025 alone, about 1.2 billion across 2026 (roughly 6.5 million per day) — are a standing supply headwind with no burn mechanism offsetting them.
• Team-wallet overhang: on-chain analyses in March 2025 attributed about 62.8 billion PI to six core-team wallets plus roughly 20 billion more across ~10,000 unlisted team-linked wallets — about 83% of max supply. Observed core-team wallet outflows to exchanges in March 2026 were themselves a downward price catalyst.
• Migration and KYC flow: PI only becomes sellable after a user passes Pi's KYC and migrates to mainnet — roughly 15.7 million verified users had migrated against 60 million-plus claimed app users. Each migration wave converts app balances into potential sell-side supply, and balances left unverified past the final March 14, 2025 grace deadline were forfeited.
• Exchange access: PI trades on OKX, Bitget, Gate, and MEXC but has never been listed by Binance, Coinbase, or Kraken — Binance's February 2025 community vote favored listing but no listing followed, and Bybit's CEO publicly called the project a scam and refused it. Listing headlines and their absence both move the price.
• Legitimacy news flow: the 2023 Hengyang (China) police scam warning, Vietnam's 2023 Ministry of Public Security investigation into MLM-style promotion, and a December 2025 Hanoi lawsuit by 33 Vietnamese users seeking about $10 million from local promoters have each repriced trust in the project. The team's on-record position is that scams involve third parties impersonating Pi Network and that no authority has contacted the company.
• Utility announcements: ecosystem releases — the Pi Ad Network, app platform pushes, protocol upgrades — have produced short rallies that consistently faded; the token spent its first sixteen months of trading making lower highs, ending about 96% below the February 2025 peak.

About Pi Network

Pi Network launched on March 14, 2019, founded by Stanford PhDs Nicolas Kokkalis and Chengdiao Fan as a cryptocurrency anyone could 'mine' on a phone. The mining is a daily tap that credits a balance on the company's servers — no proof-of-work is performed — while the app carried advertising, and mining rates increased with referrals, a structure critics have compared to multi-level marketing. In December 2021 Pi launched an 'enclosed mainnet' behind a firewall: for over three years users could migrate KYC-verified balances on-chain but could not withdraw, transfer externally, or trade them.

The open mainnet arrived on February 20, 2025, and PI became tradable for the first time, spiking to $2.98 on February 26 before beginning a roughly 96% slide to new lows by July 2026. The legitimacy record is documented rather than speculative: Hengyang City police in China called Pi coin a scam in a 2023 warning, Vietnam's Ministry of Public Security opened an investigation into MLM-style Pi promotion in June 2023, 33 Vietnamese users sued local promoters for about $10 million in December 2025, and Bybit's CEO publicly labeled the project a scam in 2025. Pi Network's on-record responses: the schemes involve impersonators, no authority has contacted the company, and its 60 million-plus 'Engaged Pioneers' are app users, of whom roughly 10.8 million held on-chain wallets.

PI tokenomics

Max supply is 100 billion PI: 65 billion for community mining rewards, 20 billion for the core team, 10 billion for the foundation, and 5 billion for liquidity, with team tokens stated to unlock in step with community mining migration. In practice only about 11% circulated as of mid-2026, on-chain analyses place roughly 82.8 billion PI in team-controlled wallets, and there is no burn mechanism. The network itself is thin — on the order of 43 nodes and 3 validators versus thousands on peer layer-1s — and the mainnet code is not fully open source, so supply claims rest partly on the team's own disclosures.