MUMBAI, Feb 16: Pi Network price grazed the $80 mark, as positive sentiment surrounding its listing on Bybit and Binance sparked 20% gains within the weekly timeframe. Can bull traders maintain their positions ahead of the upcoming Mainnet Launch?
Pi Network (PI) price 20% this week, grazing the $80 mark on Feb. 16, fueled by its recent listing on major exchanges like Bybit and Binance. This marked a 20% gain within a week, defying broader market uncertainty caused by hotter-than-expected U.S. inflation data.
Despite macroeconomic headwinds, investor sentiment around Pi Network remained bullish as the long-anticipated exchange listings provided greater liquidity and accessibility to traders. The price rally reflected increased speculation ahead of the network’s full mainnet launch, which is expected to be a major milestone for the project.
Pi’s listing on Binance was particularly significant, as the exchange’s dominance in the crypto market often serves as a validation signal for new digital assets. Moreover, its availability on Bybit, a derivatives-heavy platform, suggests traders are positioning themselves for heightened volatility in the coming weeks.
Data from CoinCodex shows that PI trading volume spiked 60% within 48 hours of the Bybit and Binance listings, with PI Price climbing 20% within the 7-day timeframe. This is in contrast to the wider crypto market, which saw capital outflows due to concerns over persistent inflation and potential Federal Reserve rate hikes.
While the price rally is encouraging for early adopters, the true test for PI will come post-mainnet launch when the network transitions into full functionality with an open ecosystem. (Agencies)
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