Pi Network Price Beats Bitcoin, Ethereum, XRP as Upgrades and Potential CEX Listing Fuels Demand

Pi Network price is beating Bitcoin this year, helped by the ongoing hope of a major exchange listing and the ongoing upgrades. The coin has retreated by 12% this year, while Bitcoin is down by 23%.

Pi Network Price is Beating Bitcoin and Ethereum 

Pi Coin price has remained in a bear market this year and is hovering near its all-time low. Still, despite this, it is beating the most blue-chip coins in the crypto industry like Bitcoin, Ethereum, and XRP. Bitcoin has dropped by 23% this year, while Ethereum and XRP have dropped by 33% and 21%, respectively.

Pi Network has flipped these coins recently after a series of positive news ahead of the upcoming first-year anniversary of its mainnet launch, which happened on February 20th last year.

For example, the network is carrying out a series of updates, which started late last year, a move meant to align with Stellar Network’s Protocol 22. The hope is that the network will continue the updates and get to the current Protocol 25.

Meanwhile, there are signs that the coin will be listed by Kraken, a top American crypto exchange with millions of users from around the world. Kraken added it on its listing roadmap, raising the possibility that it will be listed later this year.

A Kraken listing would be a major thing as it would make it available to millions of investors, especially those from the United States. It would also raise the possibility that other top exchanges like Binance and Coinbase will list it as soon as this year.

Pi Network price has also soared after the team launched a new AI feature to increase the KYC verification. This upgrade means that more people are entering the network from the enclosed mainnet.

Additionally, the developers are working on the upcoming validator rewards, which will happen in March this year.

Pi Coin Price Prediction

The 12-hour chart shows that the token bottomed at a record low of $0.1300 and then rebounded to a high of $0.2068. It has moved above the 50-period and 25-period Exponential Moving Averages (EMA).

Most importantly, the coin has formed a bullish pennant pattern, which is made up of a vertical line and a symmetrical triangle. The two lines of the triangle are nearing their confluence. 

At the same time, the coin has moved above the Supertrend indicator. Therefore, the token will likely continue rising as bulls target this month’s high of $0.2068. A move above that level will point to more gains, potentially to the key resistance level at $0.2500.