Pi Network (PI) Price Explodes 30% Today: Here’s Why

The price of Pi Network’s native cryptocurrency, PI, has exploded by more than 30% over the past 24 hours. This makes it the single best performer among the top 100 coins by total market capitalization, ahead of Render (RENDER) and Bittensor (TAO), which are up 19.4% and 12.9%, respectively.

Pi Network Price Increase: Factors to Consider

As CryptoPotato reported yesterday, one of the leading cryptocurrency exchanges in the United States, Kraken, announced that it will list PI. Per the statement, trading was supposed to start today, on March 13th.

At the time of this writing, trading hasn’t started yet, but anticipation is building. The latest move also comes on the back on a massive 175% increase in 24-hour trading volume, signaling heightened investor interest.

Pi Network’s price increase also puts its total market capitalization at around $2.8 billion, making it the 36th largest project by this metric, although its fully diluted valuation surpasses $4.3 billion.

What’s Next?

It’s interesting to see if the most recent rally can be sustained, given the uncertainty in the crypto and broader markets. However, it’s worth noting that PI’s price has been performing really well in the past month, despite the ongoing turbulence.

The cryptocurrency is up 73.5% in the past 14 days, adding to a combined increase of more than 112% in the past month alone.

This comes ahead of March 14th – a date that’s largely celebrated as Pi Day within the community. Although the celebration is broader and usually associated with the number (not the project), it has become some sort of a tradition.

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