Pi Network Shocks the Crypto Market with a 35% Surge, Surpassing Litecoin and Bitcoin Cash by Market Cap

The crypto market has been shocked by the dramatic 35% surge of Pi Network that managed to recoup the $1 level and peaking at $1.29.

The crypto market has been surprised by the dramatic 35% surge of Pi Network (PI), which managed to recover the $1 level and peak at $1.29.

As a result of the rally, Pi’s total market value has surpassed $8 billion, putting it above Litecoin (LTC) and Bitcoin Cash (BCH), according to CoinMarketCap.

What Happened: A wave of large coin movements by institutional investors, known as whales, has been instrumental in driving up Pi.

One whale moved 70 million Pi coins from exchanges, which sparked the initial surge. Shortly after, another 20 million Pi were transferred from OKX.

In response to these massive transactions, retail interest soared, pushing trading volumes above $1 billion, a 278% increase in activity.

While Pi Coin has appreciated significantly, Litecoin and Bitcoin Cash have only experienced moderate gains, highlighting the extraordinary growth of Pi.

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Trader focus is now turning towards the mid-May Consensus Summit, which could be a pivotal point for launching a long-term Pi rally.

In turn, the Pi Core Team is actively buying Pi from the exchanges to help stabilize the price following the latest token distribution. An anticipation of a major announcement on May 14 is fuelling investor enthusiasm.

There are rumours circulating about a potential Binance listing, which could be triggered by so-called test transactions. With strong fundamentals and increasing investor confidence, Pi Coin's momentum continues to build.