Pi Network is one of the most controversial crypto projects. Despite the doubts of skeptics, the developers still launched its main network in 2025. Cryptocurrency Pi appeared on exchanges, but to the disappointment of the project's supporters, almost immediately after trading the coin began to rapidly depreciate.
What is Pi Network
To begin with, let's remember what the project is - how it appeared and why many participants of the crypto community have claim
Pi Network is a cryptocurrency project that allows users to mine Pi coins using a mobile app. To start mining, all you need to do is install the app and activate the process daily with the touch of a button. This approach makes mining accessible to a wide audience, as the work does not require specialized equipment or significant financial investments.
The project was founded in 2018 by Drs. Nicholas Kokkalis and Chengyao Fan from Stanford University. The technical documentation (whitepaper) was published in March 2019 and the main network was launched on February 20, 2025.
As of April 1, 2025, mining on the Pi Network is still going on. Users can continue to mine coins through the mobile app, but to fully participate in the ecosystem, it is recommended that they undergo identity verification (KYC) and transfer their tokens to the main network.
Read more about what Pi Network is in a review.
What's wrong with Pi Network
Despite its attractive concept, Pi Network faces the following problems.
- Dubious reporting. The developers claim 60 million users, but data from blockchain explorer ExplorePi indicates only 9.11 million wallets. The discrepancy raises questions about the real scale of the project.
- Pyramid-like network structure. The system of rewards for attracting new participants and increasing profitability by expanding the network can be interpreted as signs of a pyramid scheme.
- Suspicious application activity. Users have reported large amounts of in-app advertising, possible use of their device's processing power without explicit consent, and even instances of stolen passwords.
- High token inflation. The supply of Pi coins is increasing at a rapid pace, which could lead to the token depreciating in value and making it less attractive to investors in the foreseeable future.
- Unmet investor expectations. Despite the launch of the main network, many users are experiencing difficulties with withdrawals and converting Pi coins to other cryptocurrencies or fiat money. This causes frustration and doubts about the long-term viability of the project.
The combination of negative factors has raised concerns in the crypto community and calls into question the reliability and prospects of Pi Network.
Is it possible to make money on Pi Network - Pi forecast
Rafael Mamin, CEO of Minerstream believes that Pi Network (PI) remains a controversial project, despite the launch of the main network and integration into Telegram's cryptocurrency wallet. These developments could have catalyzed growth, but the token itself has barely reacted to them.
"Pi Network is a controversial asset subject to speculation. Past price spikes have more likely reflected short-term manipulation than sustained fundamental growth. The current weak market reaction even to such significant events speaks for itself: without a clear economic model and full-fledged liquidity, Pi remains more of an idea than a full-fledged financial instrument," Rafael Mamin warned.
The integration with Telegram, our interlocutor believes, strengthens the project's presence, but it does not guarantee long-term success unless it is followed by real mechanisms for using the token. Therefore, it is too early to count on a global positive trend. Pi Network, in the expert's opinion, remains in the zone of increased risk, and speculative fluctuations do not change the overall picture.
Analyst Alex Ryabi joined the discussion of Pi Network's prospects. He believes that the project is nothing more than another futile attempt to "create token for people and overthrow corporations."
"The main problem with such tokens is monetization. How will they (the token issuing company) make money? What is this token for, other than enriching people out of thin air? The answers to this question are vague and unconvincing", - this is how Alex outlined the main problem of the project.
Alex Ryabi drew attention to the fact that the token, which recently stormed the top 10, is already on the 26th line of capitalization of all cryptocurrencies. Pi is likely to continue losing ground and here's why:
"Only less than 7% of the total supply has been put into circulation. The subsequent inflation will be about 14,300%. Hence we conclude that it is possible to earn in the platform itself. But you should not invest your money. The target target is $0.1 (-86%)", - he summarized his Pi forecast.
Conclusion
Experts doubt the prospects of Pi Network. Our interlocutors drew attention to the fact that the Pi cryptocurrency is subject to strong inflation, which can devalue already issued coins. The experts also recalled the questionable reputation and unclear mechanics of the platform. In their opinion, investments in Pi Network are associated with great risk. Therefore, the forecast of Pi is rather negative. Cryptocurrency investors are unlikely to enrich themselves on it.
