Pi Network (PI Coin) Price Explodes 65% on Launch of Its Open Network

The surge comes amid increasing speculation over a potential Binance listing and the recent launch of Pi's Open Network, which has significantly expanded its ecosystem.

The price of Pi Network (PI) soared by over 65% on Sunday, propelling the token to nearly $2.62 and sparking a surge in trading activity.

What Happened: As of February 26, PI Coin reached $2.62, reflecting a staggering 65.62% gain in a single day. Its market capitalization, which now stands at approximately $15.91 billion, has skyrocketed, outperforming established cryptocurrencies such as Chainlink (LINK) and Litecoin (LTC). Remarkably, the token’s price has surged by 300% in the past five days, outperforming Bitcoin (BTC) in terms of percentage gains.

With a nearly 170% increase in trading volume to $1.66 billion, investor interest in PI Coin has heightened significantly.

What’s Driving Pi Network’s Unprecedented Growth?

The latest bullish pressure has been attributed to two significant reasons: the launch of Pi Network’s Open Network and speculation about a potential listing on Binance.

Pi Open Network Expansion: On February 19, Pi Network launched its Open Network officially, providing the external connectivity of its blockchain ecosystem. The shift makes the platform more compatible with centralized exchanges (CEXs), third-party platforms, and mass-blockchain networks.

Based on the Pi Network, the Open Network is a milestone in making its mission of being a utility-based cryptocurrency for everyone in the world.

Binance Listing Hype: The cryptocurrency world has been closely following Binance's community vote about listing PI Coin on the global number one exchange. With over 86% of users favoring the listing, expectations for greater liquidity and mass adoption fueled the token’s rocketing price rise. A Binance listing could potentially expose PI to millions of new traders, further driving demand.

Outperforming Crypto Giants in a Bearish Market

While Bitcoin, Ethereum (ETH), XRP, and Solana (SOL) have faced declines of 9% to 20% over the past week, PI Coin’s rally has been a rare bright spot in a market dominated by bearish sentiment. Analysts believe that if momentum continues, PI could reach $5 by the end of April, with some speculating that a Binance listing could propel it to $10 in the near future.

Credit: Eniwealth ICT DON

Crypto influencer “GEM HUNTER” commented on X, stating, “PI is showing strength despite the overall market downturn. With the Binance listing in sight, we could see $10 very soon.”

Technical indicators also support the bullish trend. PI recently broke out from a symmetrical triangle pattern, a classic bullish signal. The Relative Strength Index (RSI) is currently at 90.88, suggesting that the asset is in overbought territory and could see a temporary pullback before further upward movement.