title: On May 23, Kraken Pro Made Headlines by Launching Perpetual Futures Trading for Pi Network's Native Cryptocurrency, PI

On May 23, 2025, Kraken Pro made headlines by launching perpetual futures trading for Pi Network’s native cryptocurrency, PI. The listing came with up to 20x leverage and over 40 collateral options, marking a major step forward for the project.

Kraken Pro, the professional trading platform of cryptocurrency exchange Kraken, has launched perpetual futures trading for Pi Network’s (PI) native cryptocurrency. The listing, which was announced on May 23, comes with up to 20x leverage and over 40 collateral options. It marks a major development for the project, which has been working on its mainnet for over three years and launched its token in December 2022.

Despite this news, PI’s price has struggled to find stability. Earlier this month, it briefly rallied to $1.60, but has since fallen and is currently trading near $0.76.

A lot of this has to do with the token’s complex situation around regulations and the way it was launched. Like many crypto projects, Pi Network has taken steps to avoid direct regulatory scrutiny by handling its coin issuance in a careful, sometimes confusing way.

Pi Network is a blockchain project that aims to create a peer-to-peer ecosystem for financial services and digital assets. It was founded in 2014 by three Stanford University graduates: Chenpeng Jiang, Weiqi Shi, and Jixun Hu.

The project’s journey has been long and winding, with several setbacks and pivots along the way. It was initially funded through an Initial Coin Offering (ICO) in 2017, but that model was shut down by the U.S. Securities and Exchange Commission (SEC).

To comply with regulations and continue its project, Pi Network pivoted to a different model called "tokenized contribution," where users contribute their time and skills to the network in exchange for Pi tokens.

However, this model also raised concerns among legal experts, who pointed out that selling "easily traded" tokens for value in the U.S. requires registration with the SEC.

Despite these issues, Pi Network has managed to launch its mainnet and token, which are now live and available for trading on Kraken Pro.

The platform offers a wide range of futures products with up to 20x leverage and over 40 collateral options, allowing traders to diversify their portfolio and hedge against market risks.

Moreover, Kraken Pro provides advanced charting tools, technical indicators, and market news to help traders make informed decisions.

"We are excited to add PI perpetual futures to our growing list of products on Kraken Pro," said Paymon Balaghat, Head of Product at Kraken. "We hope this listing will bring more liquidity and visibility to the Pi Network ecosystem."

Pi Network's token has been showing signs of recovery after dropping 50% and breaking out of a falling wedge pattern. The next key level to watch is $0.84, which could confirm the breakout if it breaks above this.

Some predict that Pi could rally to $5 in the future, which sounds unbelievable at first since it would give it a market cap of over $30 billion. However, because there’s so little liquidity, it’s technically possible for its price to spike much higher than expected in the short term, especially if the team is actively managing supply and demand.

Much of Pi's future price action will depend on its upcoming roadmap milestones. The Pi Network website lists dozens of them, including plans to let users migrate more of their Pi coins to the mainnet and convert Fireside tokens into Pi coins. These moves could either release more coins into the market or tighten supply even further, both of which would affect the price.

Overall, Pi Network's token has a long way to go before it reaches mainstream adoption and the price targets set by some analysts. However, the project has made significant progress in recent years and is showing promise in the rapidly growing decentralized ecosystem.