Pi Network’s PI token led the market higher on Friday, according to data from CoinGecko, rising 30% during morning hours in Asia, after crypto exchange Kraken said it would list the asset.
Pi Network is a mobile cryptocurrency project that replaces traditional proof-of-work mining with a phone-based trust graph, where users tap a mobile app daily to “mine” tokens and form identity-verified security circles that feed a consensus system derived from the Stellar protocol.
The project launched its externally connected mainnet in February 2025 after operating for years in a closed ecosystem, saying it had around 19 million KYC verified users and approximately 10 million accounts migrated to the chain.
Pi Network is currently listed on OKX, Gate, and Bitget, as well as some smaller exchanges.
In February 2025, Bybit CEO Ben Zhou publicly refused to list the Pi Network token and called the project a scam, citing a 2023 warning from Chinese police that alleged the Pi Network targeted elderly users, collected personal information, and caused some victims to lose their pension savings.
