Kraken exchange announced on March 13, 2026, that it would list Pi Network's native token PI. The news sent PI soaring over 30% in early Asian trading, with 24-hour trading volume spiking more than 300%, according to CoinGecko.
Kraken joins OKX, Gate, and Bitget as the latest major exchange to open trading for PI. The growing roster of listings boosts Pi Network's market visibility.
Mobile Mining Origins, Mainnet Went Live in 2025
Pi Network is a mobile-first crypto project that replaces energy-intensive mining with a "trust graph" on phones. Users accumulate tokens by running a lightweight app. Its low barrier to entry attracted a massive grassroots following, especially in emerging markets.
The project accumulated millions of users for years before its mainnet finally opened to external connections in February 2025. Now it claims roughly 19 million KYC-verified users and 10 million migrated active accounts, a rare scale among crypto projects.
Bybit Openly Refused Listing: Cites Chinese Police Fraud Warning
But PI's listing journey includes controversy. Shortly after the mainnet launch, Bybit CEO Ben Zhou publicly rejected listing PI, citing a 2023 Chinese police warning against Pi Network. Zhou stated authorities accused the project of targeting elderly users, systematically harvesting personal data, and causing victims to lose retirement savings. He used this as grounds for Bybit's refusal, taking a firm stance.
Bybit's position sparked debate: the police warning directly named fraudulent tactics and a specific victim group, not typical compliance issues. Supporters argue the warning stemmed from misunderstanding. Kraken's listing now reopens that dispute—a boost for PI holders, yet the doubts persist as Bybit's cited reasons remain unretracted.
As of press time, whether PI's rally holds depends on further exchange actions and Pi Network's mainnet ecosystem development.