Pi Network’s PI token led the market higher on Friday, according to CoinGecko data, rising 30% in the Asian morning hours after crypto exchange Kraken said it would list the asset.
Pi Network is a mobile-first 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 into a consensus system derived from the Stellar protocol.
The project launched its externally connected mainnet in February 2025 after working for years in a closed ecosystem and said it had around 19 million KYC-verified users and around 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 Pi Network’s token, calling the project a scam, citing a 2023 Chinese police warning that alleged Pi Network targeted elderly users, collected personal information and caused some victims to lose retirement savings.
