As Bitcoin and Ethereum Plunge, Pi Network Dethrones Hedera (HBAR) to Become the 10th Most Valuable Cryptocurrency

In a climate marked by widespread losses, Pi Network has just dethroned Hedera (HBAR) in market capitalization, rising to the 11th place in the crypto rankings. This turnaround raises questions about both the drivers of this ascent and the sustainability of the phenomenon.

As the crypto market continues to navigate a turbulent phase, an unexpected asset is stealing everyone's attention. In a climate marked by widespread losses, Pi Network has just dethroned Hedera (HBAR) in market capitalization, rising to the 11th place in the crypto rankings. This turnaround raises questions about both the drivers of this ascent and the sustainability of the phenomenon.

In the midst of the rout of giants like Bitcoin, Ethereum, and Solana, how does Pi Coin manage to show gains? As several days of decline in the crypto market have begun to wear down investor morale, several assets are displaying surprising resilience. Among them, Pi Network is attracting attention with a 5% surge in the past 24 hours.

After reaching a peak of $1.85, the asset is currently trading at $1.73, still showing a weekly gain of 11.11%. This movement propels Pi Network's market cap to $12.02 billion, thus surpassing Hedera at $9.65 billion.

This shift occurs as Hedera was still enjoying excitement around a potential ETF listing. The announcement, which briefly boosted the price of HBAR, was not enough to halt the 7% correction the asset experienced. The dynamics observed in Pi Network, on the other hand, intrigue due to their uniqueness, particularly in the context of a widespread bearish environment.

If Pi Network is managing to stand out, several factors explain this meteoric rise. One of the triggering elements is the intense speculation surrounding a potential listing on Binance.

Ever since a poll conducted by the platform brought up this possibility, the community has mobilized with the hashtag “#ListPiOnBinanceNow”, amplifying investor interest. A listing on the exchange could reinforce the asset's legitimacy and liquidity, which would be enough to sustain a bullish dynamic.

Moreover, another catalyst lies in the prolongation of the KYC verification process and the migration to the mainnet, two initiatives intended to improve the network's adoption.

In parallel, some speculations even mention the inclusion of Pi Network in a U.S. strategic reserve, in a context where the Trump administration exhibits an increasingly pro-crypto posture. These rumors, although unconfirmed, contribute to maintaining optimism around the asset.

The trajectory of Pi Network triggers as much hope as doubt. As Pi Day approaches on March 14, some anticipate key announcements that could extend this bullish dynamic.

Analysts are currently observing a test of the $1.80 resistance level, a critical threshold that, if crossed, could propel Pi Network beyond $2. However, this ascent remains fragile.

Without a concrete catalyst, the risk of a brutal pullback remains, especially if Binance does not confirm the listing or if the global market continues to contract. It remains to be seen whether Pi Network can establish itself as a solid asset or if it will merely be a speculative spark in a crisis-hit market.