TL;DR
- Although most of the cryptocurrency market is well in the green today amid positive news on the US-China Trade War front, PI has emerged as one of the top performers.
- Perhaps the most notable reason behind this surge is a big teaser published by the Core Team on X.
It’s safe to say that PI’s price trajectory was quite painful for a long time. Even though the asset bounced off its all-time low at $0.4 marked on April 5, it has still struggled to post a meaningful recovery.
Its price failed to recapture the momentum of most of the crypto market, where even larger-cap alts soared impressively. PI spent the majority of the past seven days below $0.6.
However, it finally recorded an impressive uptick on a daily scale. Its price is up by roughly 7% in one of the more notable green candles in about a month. Thus, the current price tag of $0.62 means that PI now sits at a two-week peak.
While one of the more probable reasons behind today’s price surge could be attributed to the overall market resurgance , there’s another one that got the community talking.
The official X channel of Pi Network, with over $4.3 million followers, teased a big “ecosystem announcement,” which will be revealed next week.
The team didn’t provide any further details, but speculations went rampant. One of the popular X users, often commenting on Pi Network-related stuff – Moon Jeff – said Binance was seen to simulate PI deposits and withdrawals, which could lead to an eventual listing.
Recall that the world’s largest crypto exchange held a community vote a few months back to determine whether its users want to see PI on its platform. The final results were overwhelmingly in favor of a PI listing, but there’s not much information on the topic since then.
