Following the latest market buzz, Pi Network price went up 46% in 24 hours and broke the $1 barrier to hit $1.38 as big holders and fresh speculation about Binance listing shook the market. With daily trading volume over $1 billion and market capitalization above Litecoin and Bitcoin Cash, Pi is getting attention from both traders and analysts.
This breakout came after two big transactions caught the market’s eye: 70 million Pi coins were withdrawn from exchanges and then 20 million from OKX, which is clearly indicative of whale activity. According to blockchain reports, these transactions triggered a 278% increase in retail engagement and trading volume.
Trading Volume Explodes as Pi Surpasses Litecoin and BCH
Crypto Whales (big holders who can move the market) have been behind Pi Network’s latest price surge. According to Binance Square’s internal reports, one wallet reportedly moved over 70 million PI tokens off exchanges and another 20 million from OKX.
These transactions reduced the available supply on exchanges and created a temporary liquidity crunch, opening the door for prices to go up. Analysts tracking the pattern surrounding the Pi Network Price surge say is a classic accumulation move before a news catalyst.
As speculation grew, Pi Network’s 24 hour trading volume hit over $1 billion, a 278% increase. This pushed the token’s market capitalization above $8 billion, above Litecoin and Bitcoin Cash, some of the two legacy coins often used as benchmarks for altcoin relevance. According to news sources, this is not only shifting investor sentiment but also Pi’s growing presence among top tier digital assets.
LTC and BCH only saw minor gains in the same timeframe, Pi network’s price movement was clearly driven by more than just broader market momentum.
Binance Listing Rumors Fuel Further Interest
Adding to the rally is speculation about a possible Pi Network listing on Binance. On-chain data reviewed by CCN shows Binance’s wallet conducting test transactions on the Pi Chain. While Binance has not officially confirmed any listing, the timing of the whale moves and test transactions has many traders thinking a major exchange debut is near.The Pi Core Team is quiet but insiders say they have a big announcement on May 14, just before the Consensus Summit.
Meanwhile, the Pi Core Team is actively managing supply side pressure. Officials have reported that they are buying Pi tokens off exchanges. These are to stabilize the price after the last distribution round.
These actions suggest they want to keep long term investor confidence as they prepare for wider adoption and potential exchange listings.
Market Outlook Ahead of the Consensus Summit
The timing of these events; whale accumulation, retail buzz, and test transactions, comes just days before the Consensus Summit. Previously, the summit has been the platform for major announcements in the crypto space. Pi may use this opportunity to roll out details of its long awaited Open Mainnet or strategic partnerships.
Meanwhile, technical indicators suggest more upside. RSI is elevated but not overbought and CMF shows sustained inflows.
If momentum holds and any of the rumors materialize, especially a Binance listing, then the Pi Network price may just go up again.
Conclusion
The Pi Network price has moved up and is now at $1.38 in just a few hours as whale driven liquidity crunches, retail activity and exchange listing rumors all converge to change the market dynamics. With its market cap now above Litecoin and Bitcoin Cash and anticipation building for the Consensus Summit, Pi is no longer under the radar.
The next few days will determine if this rally holds or breaks new records. As usual, traders and investors shoud be on the lookout for fresh market updates, in order to make informed decisions.
FAQs
What caused Pi Network’s price to go up?
The rally was triggered by large whale transactions, over 90 million Pi moved off exchanges, which reduced the circulating supply. Then rumors of a Binance listing followed and drove more investor interest.
Is Pi Network listed on Binance?
Not yet. But test transactions from a Binance wallet suggest internal preparation, but no official announcement.
How did Pi surpass Litecoin and Bitcoin Cash?
Pi’s trading volume and 35% price increase pushed its market cap above LTC and BCH making it one of the top altcoins in this cycle.
What role did the Pi Core Team play in the price movement?
The Core Team bought back Pi from exchanges to stabilize the price after the recent distribution, indicating strategic efforts to support the token’s value.
What to expect from the Consensus Summit?
Investors expect major announcements, potentially about the Open Mainnet launch or exchange listings, which could impact the token’s trajectory.
Glossary
Pi Network: A mobile-first cryptocurrency project to create a more inclusive digital currency mining ecosystem.
Whale: A big crypto holder who can move the market.
Binance: One of the biggest crypto exchanges by trading volume.
Open Mainnet: A public and fully operational blockchain network, not a test or restricted version.
RSI (Relative Strength Index): A technical indicator to see if a coin is overbought or oversold.
Chaikin Money Flow (CMF): A tool to see the flow of money in or out of a security over time.
Market Capitalization: The total value of a coin’s circulating supply, calculated by multiplying the current price by the total supply.
Sources
Disclaimer: This post is for informational purposes only and not investment advice. Crypto investments are risky. Always do your own research and consult a financial advisor before making investment decisions.
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