Amid Bitcoin Bloodbath, Pi Coin Has Managed To Chart 293% Gain. Here's The Reason Behind Rally

While Pi Coin continues its upward trajectory, many well-known cryptocurrencies have experienced notable declines.

Despite its meteoric rise, Pi Coin faced a sharp decline after its mainnet launch.

Source : Pi Network

Pi Coin has taken the cryptocurrency market by storm, recording an extraordinary 293 per cent rise since its launch. The digital asset's rapid growth has outpaced established players like Bitcoin, Ethereum, and Dogecoin, driven primarily by the introduction of its Open Network and speculation surrounding a potential listing on Binance. This surge has also contributed to a significant increase in both trading volume and market capitalization.

Pi Coin Outshines Major Cryptocurrencies

While Pi Coin continues its upward trajectory, many well-known cryptocurrencies have experienced notable declines. Over the past week, Bitcoin, Ethereum, XRP, Solana, USDC, and Dogecoin have each seen their values drop between 9 per cent and 20 per cent.

The catalyst behind Pi Coin’s remarkable rise is its Open Mainnet launch, which officially went live on February 20. This development has allowed users to move Pi Coin beyond its native network for the first time, boosting its accessibility and increasing trading activity on major exchanges such as OKX, Bitget, and CoinDCX.

What's Fueling Pi Coin's Growth?

Several factors are driving Pi Coin’s bullish momentum:

• Launch of Open Mainnet: The much-anticipated rollout of the Open Network has sparked enthusiasm, enhancing Pi Coin’s functionality and usability.
• Growing Exchange Listings: The inclusion of Pi Coin on more trading platforms is improving liquidity and making it easier for investors to trade.
• Strong Community Backing: Pi Network boasts an active user base exceeding 60 million, reinforcing market activity and confidence.
• Limited Supply: A large portion of Pi tokens remains locked, creating a supply constraint. As demand rises while supply remains tight, the price continues to climb.

Current Price & Market Performance

Despite its meteoric rise, Pi Coin faced a sharp decline after its mainnet launch, briefly dropping below $1. According to Binance data, Pi Coin is currently trading at $2.95, with a 24-hour trading volume reaching $232.4 million.

Pi Coin has long been one of the most anticipated cryptocurrencies, offering users the ability to mine it via a mobile application. Now, with its transition to the open network, the digital asset is fully tradable on multiple exchanges.

Looking toward the future, analysts predict that if Pi Coin gains widespread adoption and real-world use cases, its value could surpass $500 by 2030.

Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Cryptocurrency is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Cryptocurrency market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.