Pi Network has once again captured the spotlight, defying the broader crypto market selloff with a notable price surge. While major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), XRP, and Solana (SOL) have plummeted between 9% and 15%, Pi Coin surged over 5% today, securing its position as the 11th largest cryptocurrency by market capitalization.
Pi Network Outpaces Hedera Amid Market Turmoil
Pi Network has surpassed Hedera (HBAR) in market capitalization, despite the recent excitement surrounding HBAR’s ETF prospects. Currently trading at $1.73, after reaching a 24-hour high of $1.85, Pi Coin has posted an 11% gain over the past week, pushing its market cap to $12.02 billion. Meanwhile, Hedera has dropped 7% to $0.2303, with a market cap of $9.65 billion, signaling a diminishing impact of the Grayscale 19b-4 HBAR ETF filing.
This surprising market shift comes amid over $1 billion in crypto liquidations in the past 24 hours. Yet, Pi Network remains resilient, continuing to attract investor interest despite the broader downturn.
What’s Driving Pi Coin’s Surge?
One of the key catalysts for Pi Coin’s recent price surge is speculation surrounding its potential listing on Binance. The Pi Network community has aggressively pushed the hashtag #ListPiOnBinanceNow on X (formerly Twitter), reflecting strong anticipation for the exchange’s listing decision. A Binance listing could provide much-needed liquidity and further boost Pi Coin’s appeal among investors.
Additionally, Pi Network has extended deadlines for Know Your Customer (KYC) verification and mainnet migration, giving Pioneers a final opportunity to transition to the blockchain. This move has sparked increased user activity, contributing to the token’s bullish sentiment.
Will Pi Coin Be Added to the US Crypto Reserve?
Pi Network’s growing market presence has fueled speculation that it may be considered for the US Crypto Reserve asset list. Former U.S. President Donald Trump has expressed his ambition to establish the U.S. as a global crypto leader, with potential plans to include altcoins like XRP, SOL, and ADA alongside Bitcoin as strategic reserve assets. The Pi Network community is now hopeful that Pi Coin could be next in line.
With Pi Day approaching on March 14, investors and market analysts are eyeing potential major announcements. Dr. Picoin, a well-known enthusiast, has hinted that Pi Coin could surpass the $2 mark soon, as it continues to test the $1.8 resistance level.
Also Read: Pi Network Defies Market Crash – Can PI Price Reclaim $2 Amid Growing Bullish Momentum?
All eyes remain on Pi Network as it defies market trends, with growing optimism over potential exchange listings, mainnet expansions, and strategic adoption in global crypto reserves. If these developments unfold, Pi Coin could solidify its position among the top cryptocurrencies in the world.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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