Pi Network defies market downturn, gaining over 158% amid speculation about a potential Binance listing.
Pi Network Defies Market Downtrend
While the broader crypto market faced a sharp sell-off, Pi Network surged to $1.60 on Tuesday. This represents a 158% jump from its Friday low. The token’s self-reported market capitalization reached $10.7 billion, ranking it as the 11th-largest cryptocurrency, according to CoinMarketCap.
Crypto Market Sees Sharp Declines
Bitcoin, Ethereum, Solana, Cardano, and Tron all plunged by over 10% in 24 hours. The total cryptocurrency market cap fell 6%, while liquidations surged 477% to $1.57 billion.
Binance Listing Speculation Fuels Demand
Investor optimism is growing as Binance considers listing Pi Network. A user poll on the platform shows strong support for the move. If listed, Pi could see increased demand from Binance’s 200 million users worldwide. The listing may also influence other tier-1 exchanges like Coinbase, Upbit, and Kraken to follow suit.
Major Exchanges Already Support Pi
Pi Network is already available on major trading platforms, including OKX, HTX, Bitget, and Gate.io. A Binance listing would further expand its reach and potentially lead to futures market trading.
KYC Deadline Spurs Buying Activity
The upcoming Know Your Customer (KYC) grace period deadline is another factor driving Pi’s price. After February 28, only Pi coins mined in the last six months can be migrated to the mainnet. Investors are moving quickly to secure their positions before the deadline.
Pi Network Eyes All-Time High
Pi Network’s price remains in an ascending trend, forming a bullish continuation pattern. The token is trading above its 25-period moving average, indicating strong bullish momentum. If it surpasses the $1.67 resistance level, Pi could rally to its all-time high of $2.20, marking a 36% increase.
Disclaimer:
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