How much is Pi Coin worth, and why does the quote change by site?

What a “Pi Coin price” actually is

Pi Coin (PI) is the native token of Pi Network, a project that distributed most of its coins through a phone-app mining mechanism for years before any exchange could touch them. That history matters, because it means the price you see today is not the output of a long public market. It comes from a short stretch of trading that began when Pi’s Open Network launched on 20 February 2025 and Pi’s firewall came down for businesses that passed its KYB (know-your-business) checks.

When people ask how much Pi Coin is worth, they usually mean one of three different things. The first is the last traded price on an exchange. The second is the average of several exchanges that a tracker such as CoinGecko or CoinMarketCap computes. The third is what they could actually receive if they sold their own balance. Those three numbers are close in a liquid market and can be far apart in a thin one. PI is the second kind of market.

As of 12 October 2026, CoinGecko showed about US$0.082 with a market cap near US$0.92 billion, and CoinMarketCap showed almost the same figure. The live widget above this article is the right place for the current quote. What this page does is explain how to read it. For turning it into dollars, ringgit or rupiah on a specific amount, use the Pi Coin converter.

Why trackers and exchanges disagree

On that same day CoinMarketCap ranked PI at number 71 and CoinGecko at number 85, even though both reported a circulating supply of about 11.24 billion coins. The gap is not an error. Each tracker chooses which exchanges feed its average, how it screens low-quality volume and how it counts supply. Kraken, which integrated PI in March 2026 according to its own listing notice, quotes the token in euros, dollars, pounds and others, so the converted figure differs again.

The bigger source of confusion is the IOU. Before the Open Network opened, several platforms sold “Pi IOU” products, which were promises of future coins rather than coins. CoinMarketCap still keeps a separate Pi [IOU] page and says the price on certain venues reflects IOUs that may not be transferable across exchanges. Pi’s own KYB list names the exchanges and on-ramps it recognises, and Pi warns people to be careful with any business not on it. Whenever you read a price, ask which product it belongs to; the exchanges guide explains how to tell the difference.

Price history in milestones

The short version of the chart is a sharp spike, a long slide and a flat, nervous floor. The dated points below come from CoinMarketCap and Pi’s own announcements; day-one figures come from secondary reports.

Reading that sequence honestly: the launch spike happened when there was little tradable supply and enormous curiosity, and the decline since then has been a repeated test of whether demand exists at all. The news timeline walks through the events around each stage, from KYC deadlines to listings.

The market is thin, and that changes everything

Market cap is price times circulating supply, so with 11.24 billion PI in circulation a US$0.082 price gives roughly US$0.92 billion. Daily trading volume on the same pages was about US$2.8 million. That is a turnover of around 0.3% of market cap in a day, which is very low for an asset ranked in the top 100.

• ~US$0.082quote on 12 Oct 2026 (CoinGecko, CoinMarketCap)
• ~US$0.92 bnmarket cap, same day
• ~US$2.8 m24-hour volume, same day
• ~97%below the Feb 2025 all-time high

Low volume has two practical effects. A market order of a few thousand dollars can move the price against you, an effect called slippage, so the quote on a chart is not the price of your trade. And a price that moves several percent on a quiet day says little about sentiment; it can simply reflect one seller. The supply guide explains why the circulating figure is itself an estimate and how it feeds market cap and fully diluted value.

What moves the price

Several forces have shown up repeatedly, and none of them is mysterious. Exchange access is the strongest: listings, delistings and new fiat pairs change who can buy. The February 2025 listings, Kraken in March 2026 and OKX opening to US users in May 2026 were all access events. Binance, Bybit and Coinbase still do not list PI as of this guide’s research date, and that absence is part of why liquidity stays shallow.

New supply is the second force. Coins become tradable when a Pioneer completes KYC, migrates to Mainnet and waits out the 14-day pending period, and again when a lockup expires. Reported monthly unlock volumes are covered on the unlock schedule page, and the arithmetic is simple: if more coins arrive than buyers show up for, price drifts down.

Project news is third, and it often disappoints. Protocol upgrades, App Studio changes, the PiVerify identity product and Pi’s October 2026 stablecoin post, which describes only exploration with Open Standard and gives no launch dates, tend to produce short bursts. Broader crypto sentiment and bad headlines, including regulators’ warnings in Vietnam and China, sit on top. The legitimacy guide covers the criticism in detail.

Reading the price in your own currency

Readers in Hong Kong, Japan, South Korea, Vietnam, Indonesia, Thailand and Malaysia often search for a quote in their own money. It is worth knowing that this quote is a calculation. No regulator register we reviewed shows PI on a locally licensed exchange in Japan, and we found no verified PI listing on the main licensed venues in Korea, Indonesia, Thailand or Malaysia either; the research behind the regulation overview explains where that stands. PI trades against USDT and USD on offshore platforms, so the local number is the dollar price times a currency rate.

That is why the spread between “the price” and “what lands in your bank” can be larger than the daily move. Fees, the USDT-to-local-currency step and the platform’s own rate all sit in between. Country pages such as Pi Coin in Korea and Pi Coin in Indonesia go through the local routes and tax rules.

How to check the price yourself in two minutes

Where price fits into the bigger decision

A price page cannot tell you whether to buy, hold or sell, and we do not give investment advice. What it can do is set the frame: PI is a small, volatile asset whose value depends on demand that is still unproven, while Pi claims more than 60 million “engaged Pioneers” in its own blog (self-reported, not independently verified). If you only hold mined coins you cannot yet move, the market price is a reference point, not a balance you can spend. If you want exposure through an exchange, the buy guide lists the routes and the checks that matter.

For a view on where the number might go next, read the price prediction guide, which treats forecasts as assumptions rather than answers.

Updated: October 12, 2026