Pi Network Price Shows Strength with 20% Gains Today, Targeting $1 Listing on Binance

Amid the broader crypto market rally, Pi Network price is showing strength with another 20% gains today, while breaking past convincingly above the $0.65 resistance level.

Amid the broader cryptocurrency market downturn, Pi Network price is showing strength with another 20% gains today, as it breaks past convincingly above the $0.65 resistance.

As the native crypto of Pi Network, Pi Coin is showing signs of a potential rally towards the next target of $1, with analysts attributing the price gains to persistent buying activity, which is pushing trading volume to new highs.

The cryptocurrency has seen a 150% surge in trading volume over the past 24 hours, with volumes exceeding $308 million, as reported by crypto analytics platform Lunar Crush.

This coincides with reports of crypto exchange Binance listing Pi Coin, which could serve as an additional catalyst for the altcoin’s price recovery. A major exchange listing would provide huge liquidity to the cryptocurrency, ultimately raising the buying interest for Pi.

Moreover, there have been reports of the Pi Coin circulating supply increasing by 5 billion coins, but a large portion of them are being rapidly withdrawn from centralized exchanges.

The Pi Core Team has also announced that they will be making some key announcements on May 14, which is further building anticipation and excitement among the community.

In a significant development for Pi Network, 20 million PI tokens, valued at approximately $14 million, were purchased from crypto exchange OKX and transferred to private wallets in a single transaction earlier today, according to blockchain analytics firm TRM Ingress.

This marks a continuation of a broader trend, as millions of PI tokens have been consistently bought back from exchanges and moved to wallets throughout the day.

Analysts believe that this pattern is a positive sign for the cryptocurrency, as it reduces the circulating supply on centralized exchanges (CEXs), which could create heightened demand and exert upward pressure on prices.

Furthermore, on-chain data from crypto payments platform Banxa reveals a purchase of 10 million Pi (PI) tokens yesterday. This acquisition highlights the increasing institutional interest in Pi Coin. Last week, Baxa secured Know Your Customer (KYB) approval to sell Pi Coin in various countries around the world.