January 5, 2026, Pi Network is in the transition phase from a closed mainnet to an open mainnet. Its core progress and risks are as follows:
1. Core Status
• Price and Circulation: The real-time price is approximately $0.209, with a market cap of about $1.75 billion, and minimal 24-hour volatility. Circulating supply is 8.38 billion, with a maximum supply of 100 billion. Most tokens are still locked.
• Users and KYC: Over 60 million registered users, with about 20 million verified KYC users. An unlock of approximately 134 million tokens is planned for January 2026.
• Technology and Ecosystem:
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