Coinspeaker
Why Is Pi Network (PI) Price Rallying 20% Today?
Pi Network price has risen 20%, crossing $1.70 as Pi Day on March 14 approaches, marking the sixth anniversary since its 2019 launch.
Before Pi Day, Pi Coin users must transfer their mined PI tokens from the testnet to the live mainnet by 8:00 AM UTC on March 14, in line with the extended Grace Period deadline.
However, users still continue to encounter challenges with the KYC verification process, which is essential for completing the migration, due to ongoing technical issues.
Pi Network Price Bounce From Crucial Support
The Pi Network price has bounced back from its crucial support of $1.40 and is heading upwards towards reclaiming the $2 levels. The daily trading volume has increased by 54% to $720 million, indicating strong bullish sentiment among investors.
According to data from Coinglass, Pi Coin futures open interest has risen by more than 30%, suggesting that momentum will likely continue.
The 4-hour chart shows the price forming five consecutive bullish green candles, each accompanied by increasing trading volume. Local resistance lies in the $1.75–$2.00 range. If the rising volume trend persists, the price could potentially test the higher resistance level at $2.
Pi Coin Adoption
Native cryptocurrency Pi Coin has been seeing major adoption as a means of payment over the past few weeks. The cryptocurrency made inroads into the trillion-dollar industry of real estate as Florida-based Zito Realty has begun accepting Pi Network payments, marking a significant milestone for the cryptocurrency.
Pi Network’s prominence is also growing in the broader crypto ecosystem. It has been featured in the Stanford Affiliate Program alongside major players like Ripple and a16z, whose executives recently participated in the White House crypto summit. This recognition underscores Pi Network’s increasing influence in the U.S. crypto landscape.
All Eyes on Binance Listing
Last week on March 8, crypto exchange Binance unveiled a new co-governance system for managing token listings and delistings. This allows the community to actively participate in decisions regarding future listings.
The Pi Network community has expressed optimism about the potential for a Pi Coin listing under this new framework, which could open doors for broader adoption and recognition.
Currently, some exchanges like OKX, Bitget, and Gate.io have already listed Pi Coin, however, listing on Binance could provide another major liquidity boost for the altcoin.
