After the Pi Network officially launches its mainnet on February 20, 2025, Pi Coin ($PI) has been successfully listed on multiple exchanges such as Gate.io, OKX, Bitget, and MEXC. Currently, Gate.io has the largest spot trading volume, followed by Bitget and OKX. In addition, the liquidity of the Pi Coin spot market is relatively concentrated. Some investors choose to enter the perpetual contract market for leveraged trading, with Gate.io Futures having the highest trading volume, accounting for 57.33% of the contract market. However, the Trust Score ratings of some exchanges are relatively low, and market transparency still needs to be observed. Before trading, investors should pay attention to market risks, compliance issues, and exchange liquidity, and prioritize choosing platforms with higher security.