Pi Network burns coins from unverified accounts

Pi Network closes the deadline and burns the coins of those who did not verify

On February 20, 2025, Pi Network stopped being just a promise of a daily tap on your phone and began trading on exchanges. The opening price fluctuated between $1 and $2, and since then the story has moved fast. On March 14 at 08:00 UTC, the final grace period to verify accounts expired: everything mined and unclaimed was burned. The warning was issued months in advance, the deadline was extended several times, and even so, some miners were late. As of this discussion, Pi trades around $1.55, far below the forecasts from weeks earlier.

The broad numbers of the coin distribution explain much of the price behavior, and the full verification timeline, with its several extensions, does not fit in one paragraph.

Timeline of Pi Network's grace period

The first deadline was February 28, 2025. It was extended to March 14, coinciding with the project's anniversary, and this time only 14 days instead of the full month of the previous extensions. The official message was blunt: there would be no more extensions. On March 14 at 08:00 UTC (09:00 in Spain), the final deadline expired and coins from unverified accounts were burned.

Afterward, a different six-month window peine to claim only what was mined during that period. For anyone who stopped mining years ago, there is nothing to recover: their coins no longer exist. As was argued in the debate, mining does not end with the deadline: it would continue until 80 billion tokens are issued and the network reaches 1 billion accounts.

How much is Pi Network worth and where can you buy it?

Pi trades on MEXC, BitGet, OKX, Gate.io and Pionex, among others. Within days of its listing, it ranked 11th by market cap, just below Tron, DOGE and Cardano and above Chainlink, Hedera, Avalanche, Shiba, Polkadot, Monero or Uniswap.

On the first day there was selling pressure and the price fell to $0.60. It then bottomed at $0.65, rose to $1.20 and settled at $1.55. Meanwhile, Bitcoin lost the $100,000 to $80,000 range and dragged the whole market down: Pi held above $1. Some read that resilience as strength; others attribute it to the fact that almost no one can sell.

63.3% of coins are locked

That is probably the data point that most affects the price. The distribution by lock-up period chosen by the miners themselves is as trinc:

• No lock-up: 144,899 wallets (1.3%)
• 2 weeks: 1,193,310 (11%)
• 6 months: 1,096,488 (10%)
• 1 year: 1,554,034 (14.3%)
• 3 years: 6,871,949 (63.3%)

Lock-up is voluntary and is exchanged for a boost in mining estimulante ilegal. Because it is released gradually rather than all at once, the argument going around is that there should be no sharp impact on supply.

Forecasts: from $5 to $100

The most optimistic scenarios had $5-10 in the short term and between $25 and $100 after a hypothetical Binance listing, which would come in March at the earliest. The platform peine a community vote between February 17 and 27 in which 85% voted in favor. If that listing were confirmed and the market cooperated, some spoke of $100 this same year, a 150x from the first-day low. None of that is settled.

The voices comparing it to a pyramid scheme

Against that narrative, others argue that the project has nothing behind it except a button. It has been compared to Worldcoin and to the numbers from the TV series Lost, and it has been claimed that developers moved 100 million tokens to exchanges from their reserve, something that is not confirmed. Some simply point to the chart: it will not stop falling.

What is Pi for, beyond speculation?

The recurring question is what a coin that can only be sold is good for. The official answer insists on everyday use: paying for goods and services with a mobile phone, without banks in between, something that already happens in other countries. On the other side, the response is that the declared purpose is one thing and the actual transaction volume is another. Here the material falls short: there are no Pi commerce figures on the table.

What it costs not to have verified in time

The calculation made during the deadline: an average of 1,500 Pi per abandoned account, which at $2.50 is about $3,750 and at $100 would be $150,000. There are concrete and more tangible cases, such as a miner for whom two referrals without access to his account directly cost 1,500 Pi. Another confirmed the pattern: selling coins mined over six years at a bargain price on the very day of launch.

With the price back at $1.55 and no confirmed Binance listing, the narrative of the train that is not coming back clashes with the chart that keeps falling. That is where everything gets stuck: the coin burn props up value for some, and for others it is proof that the project lives off artificial scarcity.