It’s official. Kraken posted on X just this morning: “Trading starts March 13.” The Pi Network community erupted. After years of mobile mining, a delayed mainnet launch, and a bruising 93% drop from its all-time high, PI is about to land on one of the most reputable regulated exchanges in the United States, right on the eve of Pi Day 2026.
The announcement sent PI up nearly 2% within minutes, and the token has already staged a 33% rally over the past week as speculation reached fever pitch. But the question everyone is asking: what happens next? To answer that, we need to look at where PI has been.
The Full Price History: From $0 to $2.99 and Back
Pi Network spent six years in what it called an “enclosed mainnet.” Tokens mined, but not tradeable. When the Open Network finally launched on February 20, 2025, it was one of crypto’s most anticipated debuts, backed by over 60 million app users and 19 million KYC-verified “Pioneers.”
Feb 20, 2025 — Open Network Launch + OKX Listing PI opens at $1.47 on OKX, peaks at $2.10 the same day, then closes at ~$1.01. The floor price set by the Pi Core Team was $2.00, a symbolic psychological anchor that briefly held before selling pressure broke through.
Late Feb 2025 — All-Time High: $2.99 As Bitget and other exchanges followed OKX with listings, hype peaked. PI reached $2.99, briefly valuing the network at over $25 billion fully diluted. Then the sell pressure from years of accumulated miners finally cashing out began in earnest.
Mid–Late 2025 — The Long Unwind Heavy token unlocks, over 203 million PI in a single month, combined with limited real-world utility and no Binance or Coinbase listing drove PI steadily lower. By late 2025, price had collapsed more than 90% from its peak.
March 2026 — The Recovery Begins Protocol upgrades (v19.9 completed March 8), the Pi DEX launch on March 12 via v20.2, and intensifying Kraken listing rumours ignited a 33% weekly rally, pushing PI back toward $0.23 and breaking above its 50-day SMA for the first time in months.
What Happened When OKX Listed PI
The OKX listing is the closest historical comparison we have for what might happen on Kraken tomorrow, and it’s a cautionary tale wrapped in initial euphoria.
On launch day, PI initially surged roughly 10% above its $2 reference price within the first hours of trading. Within 24 hours, it had reversed violently, dropping 21% as early miners rushed to sell. Some had been sitting on coins for years at near-zero cost basis. The pattern was textbook: listing day hype, followed by a wave of supply from long-term holders seeking liquidity for the first time.
Why the Kraken Listing Is Different This Time
Kraken isn’t just another exchange. It carries specific significance for PI that OKX, Bitget, and MEXC did not, for two reasons.
1. It’s the First Regulated US Venue for PI Spot Trading Kraken operates under US financial regulation and recently gained access to the Federal Reserve’s payment infrastructure, giving it a level of institutional credibility that offshore exchanges simply don’t have. For US-based investors who have been locked out of PI trading, this is the first accessible, compliant on-ramp.
2. It’s a Signal to Binance and Coinbase Historically, Binance watches major Western exchange listings closely. A successful Kraken debut for PI, with strong volume and no immediate collapse, could be the nudge that finally moves Binance off the sidelines. A Binance listing remains the single most important potential catalyst left for PI in 2026.
Crypto analyst Dr. Altcoin has publicly said PI could reach $0.50–$0.75 by Pi Day (March 14) driven by the v20.2 protocol completion and Kraken. That means a roughly 2–3x move from current levels in under 48 hours, aggressive but not impossible given PI’s history of violent short-term swings.
Trust with CoinPedia:
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
Investment Disclaimer:
All opinions and insights shared represent the author’s own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored and Advertisements:
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
