Pi Token Price Sinks 95% as Kraken Watchlist Fuels Attention

Nearly one year after trading began, the PI token has delivered steep losses for holders across major exchanges. The asset peaked at $2.99 in late February 2025 before entering a prolonged and severe downturn. 

Since that peak, PI has dropped more than 95% in under a year. Recent weeks intensified pressure as the token printed consecutive all-time lows near $0.1338 on CoinGecko after a 40% monthly fall.

The token later rebounded toward $0.145, yet sentiment remained weak across markets. With price volatility rising and liquidity thin, one question continues to circulate among observers: Will PI drop even further?

Kraken Watchlist Adds Attention Without Guarantee

A fresh development emerged after Pi appeared on Kraken’s page for potential listings. The asset sits within the Chains category alongside several early-stage blockchain tokens. Placement on the page does not confirm a future listing. Still, the move renewed attention within the Pi community after months of limited exchange expansion since mainnet trading began.

Kraken operates one of the largest platforms in the sector. The exchange reports over 15 million global users, about 1.5 million monthly active traders, and more than $2.2 billion in annual revenue.

The company also raised $800 million at a $20 billion valuation in November ahead of a planned initial public offering. Any listing decision would expose PI to a significantly larger audience.

Exchange Access Remains Narrow as Market Eyes Expansion

PI trading activity currently concentrates on a small group of venues. These include OKX, Gate, Bitget, and MEXC, which handle most daily volume.

Since the February mainnet launch last year, the project has not secured additional major exchange listings. This limited access has constrained liquidity and reduced price discovery during volatile periods.

Market participants often point to larger platforms as potential catalysts. Binance, Coinbase, and Upbit attract substantial regional demand in Asia, the United States, and South Korea.

A listing on any of these platforms historically increases visibility and trading activity for emerging assets. For now, PI remains absent from all three.

Community Engagement Shapes Pi Network’s Unique Path

As Pi Network advances toward its Full Mainnet phase, community discussion has shifted in tone. Many participants now reflect on years of daily involvement rather than near-term price outcomes.

This sentiment surfaced after a post from Twitter user @inanjaccuse described spending four to five hours daily on Pi-related activity. The comment noted how long-term routines made the idea of Full Mainnet feel unfamiliar.

Unlike typical crypto ecosystems driven by trading cycles, Pi Network users often engage through mining sessions, security circles, node operations, KYC processes, and ecosystem testing. These actions shaped sustained participation rather than speculative interaction.

Over time, repeated involvement created structured milestones that guided daily activity. Each development phase reinforced continued engagement, forming a community identity built through long-term participation rather than short-term market exposure.

Also Read: Pi Coin Price Prediction: Net Outflow of 2.15 million Pi Tokens In 24 hours - What’s Next?

Conclusion

The Pi token price remains under pressure after a drop of more than 95% since its peak. Recent all-time lows reflect weak sentiment and limited exchange access. Still, inclusion on Kraken’s watchlist and steady progress toward Full Mainnet keep market attention firmly on what comes next.

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