Pi Network (PI) Leap Over Hedera Despite HBAR ETF Hype

Pi Network (PI) has shown impressive strength in the volatile cryptocurrency market, recently surpassing Hedera in rankings. This climb to 11th place globally has sparked excitement about its future. Despite recent market downturns, Pi remains strong, suggesting a possible price surge soon.

Since its mainnet launch in February, Pi’s price has been volatile. After an initial fall from $2 to $0.59, it recovered strongly, even as other cryptos declined. It later peaked at $3, driven by hopes of a Binance listing. However, a 42% drop to $1.6 followed the delay of the KYC deadline to March 14th.

Pi Network (PI) Listing Possibility

Despite this setback, Pi Network remains a focus of considerable market attention. The potential for a Binance listing remains a significant catalyst, particularly given the results of a recent poll indicating over 85% of participants support such a move. This listing, if realized, could trigger a cascade of further listings on tier-1 exchanges, potentially significantly impacting Pi’s price.

The token’s performance against the broader market downturn has been particularly noteworthy. Even amidst recent volatility, the token has surged by 4%, outpacing Hedera in market capitalization. This unexpected performance, coupled with the potential for a Binance listing and the prospect of US tax relief for crypto investors, paints a potentially bullish picture for Pi Network.

Adding to the positive momentum, real-world adoption is steadily growing. Zito Realty in Florida has begun accepting the Coin as payment, showcasing its increasing acceptance within the commercial sphere. Speculation surrounding a Binance listing continues to build, promising the potential for substantial price gains.

PI Market Price Trajectory

Pi Network’s price may be poised for a rebound. Hourly charts show a “falling wedge” pattern, a bullish signal often preceding price increases. This, coupled with positive market sentiment and growing acceptance, suggests potential upward movement.

Currently priced around $1.75 according to CoinMarketCap data, Pi has strong support between $1.60 and $1.62. Analysts predict a possible surge to $1.92, even forecasting a potential 234.84% jump this month, averaging $3.37 (a 101.79% increase).

Beyond speculation, Pi’s real-world use is boosting its value. Businesses across the USA, China, Vietnam, Thailand, and India now accept Pi, notably including BYD Auto Service, which has facilitated nearly 100 global car sales using the token. This widespread adoption solidifies Pi’s position as a legitimate digital currency, not just a speculative asset.