In a volatile 24-hour trading period, the native token of the Pi Network, Pi, has experienced a notable surge, climbing 20% to around $1.66, according to data from CoinMarketCap.
This rally propelled Pi’s market capitalization above $11.9 billion, above that of Hedera (HBAR) and Unus Sed Leo (LEO), making it the 11th largest cryptocurrency by market capitalization, below TRON’s $21 billion market cap.
Pi Network’s price rise comes as the token’s community anticipated Pi Day, falling on March 14, in which users have to have completed their Know-Your-Customer (KYC) checks as the network is migrating to the mainnet.
Originally set to end in February, the process known as the “Grace Period” was extended to March 14, a move that drew both praise and renewed fraud allegations. Further supporting its price rise are rumors suggesting that leading cryptocurrency exchange Binance will list PI.
The leading cryptocurrency trading platform held a community vote titled “Should PI be launched on Binance?” that saw 86% of 294,690 respondents vote “yes,” while only 14% voted against the listing.
It’s worth noting that the exchange hasn’t yet announced the token’s listing, although many expect it to do so, given the community vote’s results.
Pi Network Token Amid Broader Crypto Market Rise
The Pi Network’s token surge comes as other cryptocurrencies are moving up slightly, showing some positive momentum after a significant sell-off. Bitcoin is up around 2.8% in the last 24-hour period to now trade at $83,600 after falling below $80,000 earlier.
Meanwhile other top cryptocurrencies, including Ethereum’s ether, XRP, BNB, Solana’s OSL, and Cardano, are up between 2% and 5% over the last 24-hour period.
