Pi Coin Plummets 79% From Peak, Faces Inflation and Privacy Concerns

Pi Coin, a cryptocurrency that gained attention for its mobile mining capabilities, has faced significant challenges since its launch. The project, which claims over 60 million users, has only about 9.11 million wallets on blockchain explorers, with daily active users closer to 20,000. Despite being launched six years ago, the Pi mainnet remains technically "enclosed," with full control held by the core team. Inflation is a major concern, with the circulating supply doubling in just a year, sitting at around 5.56 billion tokens as of early 2025. The mandatory Know Your Customer (KYC) process raises serious privacy concerns, especially with user data being handled by regional validators. Additionally, the project heavily relies on in-app advertising, despite low operating costs, and employs tactics designed to keep users engaged without clear utility.

Pi Coin reached an all-time high of about $2.98 in late February 2024 when early trading started appearing on selected exchanges. However, as of April 28, 2025, Pi Coin (PI) is trading around $0.62, which means it has fallen by roughly 79% from its peak. The price is hovering dangerously close to its all-time low, with thin liquidity and decreasing volume across most exchanges. Many early miners and holders are deciding it might be time to sell their Pi Coins.

To sell Pi Coin, the first step is setting up a Pi Wallet. Download the Pi Browser app, available on both the Google Play Store and the App Store. Open the app and head to the “wallet.pi” page inside the browser. Follow the instructions to set up your Pi Wallet, and when you create your wallet, you’ll be given a 24-word seed phrase. This is critical: The Pi Network doesn’t store your passphrase for you. If you lose it, you lose access to your wallet and your Pi for good. So write it down, store it offline, and keep it somewhere safe. Once your wallet is set up, you’ll need to complete KYC verification to transfer your mined coins. Open your Pi Network app, go to the KYC section, and follow the prompts to verify your identity. Once your KYC is approved, you’ll unlock the ability to transfer your mined coins. From there, head to the Mainnet Checklist in the app, which will walk you through the final steps. Once everything’s checked off, your transferable balance will be sent straight to your Pi Wallet.

Now that your Pi Coins are in your wallet, you have two main options for selling them: centralized exchanges (CEXs) or peer-to-peer (P2P) platforms. Each has its own pros and cons, depending on how much security, speed and control you want. CEXs offer a structured environment where trades happen quickly and there’s usually more buyer demand. Some CEXs where you can sell your Pi Coin include OKX, MEXC, Gate.io, and Bitget. Each of these platforms has different trading pairs, fees, and KYC requirements. P2P platforms, on the other hand, give you more flexibility but come with more risk. Some options include Coinskro, a P2P platform built specifically for Pi transactions, accessible through the Pi Browser, and Telegram and Discord communities. When using P2P platforms, it’s important to always use escrow services to hold funds until both sides confirm, verify the person you’re trading with, never overshare personal or banking information, and if it’s your first time trading with someone, start with a small amount to test trustworthiness.

When deciding whether to sell or hold your Pi Coin, it’s important to consider the red flags, such as the sluggish mainnet rollout, inflation concerns, and privacy issues. However, there are still some experts who see a path for Pi Network to grow. For example, analysts at CoinCodex predict Pi Coin could average around $1.71 in 2025, with highs potentially reaching up to $2.94. Over at CoinDCX, its forecast puts Pi trading between $2.75 and $2.80 by the end of the year, assuming everything breaks in Pi’s favor. However, these are just predictions and not guarantees. The golden rule applies here: do your own research (DYOR). Expert opinions can be helpful, but they aren’t a substitute for doing your own homework. Double-check sources, stay skeptical, and always think about your own financial goals and risk tolerance before making a move. Regardless of whether you decide to sell your Pi now or ride it out and see what the future holds, make sure it’s a choice you’re comfortable with and one that fits your bigger financial picture.