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Pi Coin, which officially launched its mainnet last week, has surged to become the world’s 11th largest cryptocurrency, according to CoinMarketCap. The Pi Network’s self-reported market capitalization has skyrocketed to $10.7 billion, with Pi Coin’s price climbing to $1.60—a staggering 158% increase from its lowest level on Friday.
This impressive rally comes despite a bearish trend in the broader crypto market, where most major cryptocurrencies have suffered double-digit losses.
Pi Coin’s Meteoric Rise
Pi was trading at $1.68 on Wednesday, with a 24-hour trading volume of $522,234,075, as reported by crypto.news.
The price is following a rising trendline that started on February 22, with a potential breakout above the $1.67 resistance level.
If Pi surpasses $1.67, analysts predict the price could move toward its historical peak of $2.20, marking a 36% potential upside.
Pi Coin Surges Amid Market Bloodbath
While Pi Coin surged, the broader cryptocurrency market plunged by 6%, leading to widespread losses:
Bitcoin (BTC) – Fell below $90,000 for the first time in over a month.
Ethereum (ETH), Solana (SOL), Cardano (ADA), and Tron (TRX) – Declined by more than 10% in the past 24 hours.
24-hour liquidations jumped 477%, totaling $1.57 billion.
Despite this gloomy market sentiment, Pi Coin has defied the odds, fueled by strong speculation and upcoming developments.
Why Is Pi Coin Surging?
Anticipation of Binance Listing
- Binance, the world’s largest crypto exchange with 200 million users, recently conducted a poll on whether to list Pi Coin.
- A majority of users voted in favor, fueling speculation that Pi may soon be added to Binance’s spot and futures trading markets.
- If listed, Pi’s liquidity and trading volume could increase significantly.
Other Exchange Listings
- Several major exchanges have already listed Pi Coin, including OKX, HTX, Bitget, and Gate.io.
Upcoming Know Your Customer (KYC) Deadline – February 28
- Investors are anticipating an influx of Pi transfers to the mainnet, as pioneers who mined Pi in the last six months will be eligible to transfer their holdings post-KYC deadline.
What’s Next for Pi Coin?
If Pi breaks past the $1.67 resistance level, it could aim for $2.20, representing a 36% increase from its current value.
Binance’s decision on Pi Coin’s listing will be a major factor in determining its short-term price movement.
KYC deadline on February 28 could further impact supply and demand dynamics.
Will Pi Coin Continue Its Bullish Run?
Pi Coin has defied the crypto market downturn, but its long-term success depends on exchange listings, regulatory clarity, and adoption. If Binance officially lists Pi, it could fuel further price gains.
