Before the Pi Network mainnet launch! Downloads surpass 100 million, surpassing the largest U.S. cryptocurrency exchange

Pi Network’s app downloads have surpassed 100 million, supported by screenshots from the Google Play Store indicating over 100 million installs, an average rating of 4.3 stars, and more than 756,000 reviews. This figure is twice that of the largest compliant cryptocurrency exchange in the U.S., which has over 50 million downloads. Although the Pi mainnet has not yet launched, the number of active miners has already reached 60 million.

100 Million Downloads Outperform U.S.'s Largest Regulated Exchange

(Source: Google Play)

Reaching over 100 million downloads globally, Pi Network has become one of the most downloaded cryptocurrency apps worldwide. As of November 2025, this growth demonstrates Pi Network’s successful viral spread. Even more impressive is the comparison with mainstream exchanges: the largest regulated U.S. crypto exchange has over 50 million downloads, while Pi Network’s figure is double that.

What makes this comparison remarkable is that Pi Network has not yet launched its mainnet. Traditional centralized exchanges (CEXs) have been operating for years, offering full trading, custody, and financial services. In contrast, Pi is still in the closed, pre-mainnet phase, where users cannot freely trade Pi tokens on open markets. Achieving twice the downloads of the largest U.S. regulated exchange without offering traditional trading features highlights Pi Network’s strong community engagement and user anticipation reaching unprecedented levels.

Pi Network’s user engagement metrics showcase its unparalleled community influence. The app’s 4.3-star rating indicates high user satisfaction, slightly below the U.S.'s largest regulated exchange at 4.4 stars (with 895,000 reviews). Notably, Pi Network has accumulated 907,000 reviews—comparable to the 895,000 reviews of the exchange—remarkable for an app that does not yet support actual trading. While exchange users typically focus on trading, Pi’s social mining model converts mobile users into active participants, fostering a sense of belonging and loyalty in emerging markets.

Download Comparison: Pi Network vs. Major U.S. Exchange

Pi Network: Over 100 million installs, 4.5-star rating, 907,000 reviews

Largest U.S. Regulated Crypto Exchange: Over 50 million installs, 4.4-star rating, 895,000 reviews

These figures show that Pi Network has attracted a user base far exceeding that of mainstream exchanges, solely through social mining and community building, without offering traditional trading functionalities.

60 Million Active Miners and 25 Million KYC Users

Pi Network’s active miners have reached 60 million—a staggering number. While many centralized exchanges have large registration counts, only a small portion are active traders. The 60 million active miners mean these users participate daily in mining activities, a level of high-frequency interaction difficult for traditional exchanges to match.

More importantly, 25 million users have completed KYC (Know Your Customer) verification. KYC is a critical compliance step requiring users to submit identity documents and pass verification. Having 25 million verified users indicates Pi Network’s readiness for mainnet launch, as these users will be able to transfer and trade tokens immediately once the network goes live. This number surpasses many small to medium exchanges’ total user counts, laying a solid foundation for Pi’s future ecosystem development.

Pi Network’s social mining is the core driver of its growth. Unlike Bitcoin or Ethereum, which require high-performance hardware and significant electricity, Pi allows users to mine via a simple tap on their mobile phones daily, without draining battery or data. This low barrier to participation enables anyone with a smartphone to become a miner, greatly reducing entry barriers to cryptocurrency.

Additionally, the referral system enhances growth. Users can invite others to increase their mining rate, leveraging social network effects for viral expansion. Each new user not only mines for themselves but also invites friends and family, creating exponential growth. This model is especially effective in emerging markets, where there is high demand for new income sources and tight social networks.

Dominance in Emerging Markets and Global Expansion

Pi Network’s ease of use has made it popular in regions with limited banking services. According to a Bitget report from August 2025, Asia, Africa, and Latin America are experiencing rapid growth, with mobile app adoption far outpacing traditional banking services. The app’s PEGI 3 rating makes it suitable for all ages, increasing its inclusivity and compliance with app store policies. Its user-friendly mining, low power consumption, and social incentives continue to drive user growth.

In many developing countries, traditional banking coverage is low, and opening accounts involves complex procedures and minimum deposits. Pi Network only requires a smartphone and internet access, making it an accessible entry point into digital finance for these populations. This inclusive financial approach aligns with the United Nations’ sustainable development goals and is a key reason for Pi’s rapid expansion in the Global South.

Geographically, Pi Network’s user base in Asia, Africa, and Latin America far exceeds that in Europe and North America. This contrasts sharply with Bitcoin and Ethereum, which are predominantly used in developed countries. Pi has successfully tapped into the needs of emerging markets, where large populations are receptive to new technologies and eager for additional income opportunities.

Pre-Mainnet Challenges and Opportunities

Despite record downloads, Pi Network remains in the pre-mainnet phase. The 100 billion Pi tokens have not yet been fully circulated, so its market valuation remains uncertain. However, HOKANEWS predicts that Pi’s cumulative downloads could reach 1 billion in the next phase, highlighting its enormous growth potential and the market’s anticipation for the mainnet launch in 2026.

The mainnet launch is the biggest test for Pi Network. Currently, mined Pi tokens cannot be traded publicly; their value is based on future expectations. Once the mainnet launches, Pi tokens will be tradable on decentralized and centralized exchanges, allowing for real market valuation. This moment will determine whether Pi becomes a mainstream cryptocurrency or a failed community project.

Challenges include designing a tokenomics model to manage the large supply of 100 billion tokens, controlling initial sell-offs, creating real utility and value for the tokens, and preventing market manipulation by speculators. Regulatory compliance, especially in strict markets like the U.S. and Europe, is another significant hurdle.

Nevertheless, the opportunities are immense. With 60 million active users and 25 million verified through KYC, Pi Network has an unparalleled user base. If these users can be integrated into a thriving ecosystem—supporting payments, DeFi, NFTs, and more—Pi could become one of the largest blockchain ecosystems globally.

Analysts see this milestone as indicative of a new trend in crypto user growth. Unlike traditional exchanges that control capital flows, Pi controls participation scale through social mining. Its viral community strategy may be more effective than conventional marketing in attracting global users. If Pi successfully transitions to mainnet, it could emerge as a leader in the cryptocurrency space.