Pi Network Token Sees a Sharp Price Increase and Soars into the Top 20
After a more than 50% increase in just one day, the token of Pi Network, a social cryptocurrency and developer platform, momentarily entered the top 20 digital assets by market capitalization on May 12. As of writing (May 12, 2:00 a.m. EST), the token had increased by more than 72% in less than 48 hours, making Pi the top-performing digital asset over the last seven days.
The rise in the token occurs just a few days before Pi Network’s anticipated ecosystem introduction on May 14. The token’s run since this teaser indicates that users are expecting significant news that will impact Pi Network’s growth trajectory, even though the May 8 post on X provided few details about the impending revelation.
Pi Network token had also included new tools to improve accessibility and inclusivity inside its Mainnet ecosystem before the May 8 post. It claimed that millions more people would be able to interact with the Pi Mainnet by separating wallet activation from migration. Pi Network claims that by making it possible for more people to own and utilize Pi network token on the blockchain, these modifications hope to expand the Pi Mainnet ecosystem, which will help developers and Pi’s general usefulness.
In addition to the ecosystem announcement, the increase is thought to be fueled by rumors that Binance may eventually list the coin. Due to problems with Pi network token distribution, Pi is still not listed on Binance, a leading cryptocurrency exchange platform, even though it has broken into the top 20. According to certain reports, Binance has not listed the coin because of its comparatively low trade volumes and liquidity.
According to Coingecko data, Pi had mostly declined since reaching its peak of $2.93 on February 27. On April 5, the token seems to have fallen to little under $0.50. However, Pi started a recovery at $1.43, its highest level since March 16, after flatlining for the remainder of April and the first week of May. At the time of writing, Pi was up 118% over seven days and ranked 17 with a market capitalization of just over $9 billion.
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