Why is the Pi Network (PI) Price Up Today?
TL;DR
- PI is among the top market performers today (March 12).
- Its resurgence coincides with an entire revival of the crypto sector, where BTC surged past $82,000.
Pi Network’s native token has been at the forefront of gains in the past 24 hours, with its price rising by 15% to just south of $1.60. Its market capitalization soared above $11 billion, thus surpassing Wrapped Bitcoin (WBTC) to become the 12th-biggest cryptocurrency.
One factor potentially contributing to the rally is the approaching Pi Day on March 14. The date holds significance for the community, marking the end of the period during which users must complete KYC verifications and migrate to the mainnet.
Additionally, the project will celebrate its sixth birthday on March 14. Some industry participants have speculated that Binance might list PI on that day.
Last month, the largest crypto exchange held a community vote to determine whether its users would want to see the asset available for trading. Over 86% of the voters clicked the “yes” option, but the company has remained silent on the matter.
PI’s latest resurgence also aligns with the broader revival of the cryptocurrency market. Bitcoin (BTC) briefly pumped above $83,000 before settling at approximately $82,000. Ethereum (ETH), Ripple (XRP), Dogecoin (DOGE), and many more leading altcoins are also well in the green on a 24-hour scale.
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