Pi Network Defies Inflation Fears: Can It Keep Climbing Past $80?
Due to its recent listing on well-known exchanges like Bybit and Binance, Pi Network (PI) saw a 20% price increase this week and briefly touched the $80 barrier on February 16. Despite broader market anxiety brought on by higher-than-expected U.S. inflation figures, this was a 20% rise in just one week.
Investor attitude toward Pi Network remained positive despite macroeconomic challenges since the eagerly awaited exchange listings gave traders more liquidity and accessibility. Increased anticipation ahead of the network’s full mainnet deployment, which is anticipated to be a significant project milestone, was reflected in the price surge.
Pi Network’s Exchange Debut Triggers Rally: Will It Last Until Mainnet?
Since Binance’s supremacy in the cryptocurrency market frequently acts as a confirmation signal for new digital assets, Pi’s listing on the exchange was especially noteworthy. Furthermore, the fact that it is available on Bybit, a platform that deals mostly with derivatives, indicates that traders are bracing for further volatility in the weeks ahead.
According to CoinCodex data, PI trading volume increased by 60% in the 48 hours following the Bybit and Binance listings, while the price of PI increased by 20% in the 7-day period. In contrast, worries about ongoing inflation and possible rate hikes by the Federal Reserve caused capital to leave the broader cryptocurrency market. The real exam for PI will be after the mainnet launch, when the network moves into full operation with an open ecosystem, even though the price increase is encouraging for early adopters.
Pi Network’s Market Entry: Will It Surge or Struggle?
One of the most anticipated cryptocurrency releases in recent memory is Pi Network. It seeks to enable mining for everybody with a mobile device. As its formal introduction draws near, there has been a lot of discussion about the price forecast, with many people making predictions about where it will trade once it is completely unlocked. Millions of users wanting to earn PI tokens without costly hardware have been drawn to the project because of its mobile mining concept, which has created enormous hype. Its stable IOU pricing range of $61 to $70 may serve as an early predictor of where PI would settle on the open market.
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