Pi Network is rumored to launch the second mainnet migration, driving ecosystem growth or triggering a PI dumping frenzy?

The Pi Network (PI) community has recently been buzzing about a significant piece of news—the platform may initiate its second mainnet migration later in 2025. This move will affect millions of users and un-migrated tokens, and could potentially change the liquidity and market price of Pi coin. Is this an opportunity to drive ecological growth, or a trigger for a selling frenzy?

What is the "Second Migration" of Pi Network?

In the Pi Network ecosystem, "migration" refers to the process of transferring user accounts and token balances from the testnet to the mainnet, allowing the tokens to have real trading and application value.

First migration: Validate system scalability and bring early users onto the Mainnet.

Second Migration: It is expected to further expand the number of active wallets and token circulation for tokens that have not yet been migrated, including referral rewards and recent balances that have passed KYC verification.

Although the Pi core team has not officially confirmed it, recent ecosystem activities such as the Pi Hackathon have increased market confidence in this project.

Potential Benefits: Unlocking Tokens and Expanding Application Scenarios

If the second migration lands, it will bring multiple positive effects:

Increase liquidity: More tokens enter the Mainnet, enhancing trading activity.

Unlocking referral rewards: incentivizing more users to participate in mining and promotion.

Promoting application implementation: Tokens can be used in more decentralized applications (DApp) and payment scenarios.

For long-term holders, this could be an important step in expanding the Pi ecosystem.

Risk Warning: Selling Pressure and Price Volatility

Despite the market's anticipation for the second migration, analysts caution that releasing too many tokens at once could lead to short-term dumping pressure.

Currently, the price of Pi Token fluctuates between 0.30 and 0.40 USD. If the new supply increases too quickly, it may lead to a price drop and affect investor confidence.

Therefore, how the Pi team balances the Token release speed with market capacity will be a key challenge.

Community Reaction: Expectation and Caution Coexist

In community discussions, many users regard the second migration as an important signal of the "maturation phase of the Pi ecosystem", but some are also worried about short-term price pressure.

Most opinions believe that as long as the Pi team adopts a phased release and supporting application implementation strategy, this migration will become an important catalyst for promoting the value of the Pi Token.

Conclusion

If the second Mainnet migration of Pi Network materializes in 2025, it will be a significant event affecting the ecosystem and price trends. It may bring about liquidity and application growth, but it could also trigger short-term dumping pressure. Investors need to closely monitor official announcements and Token release plans in order to seize opportunities and manage risks during this transformation. For more real-time market data and in-depth analysis, please follow the official Gate platform.