Why Did Pi Network’s PI Token Gain 65% in 24 Hours?

TL:DR

• Pi Community lastly launched its Open Community earlier this week, alongside the PI token, however its value tumbled in a traditional sell-the-news occasion.
• Nonetheless, it has rebounded laborious previously 24 hours following robust hypothesis that will probably be listed by the world’s largest crypto trade.

After years and years of improvement, rumors, delays, and speculations, Pi Community lastly released its Open Community and native token for buying and selling on February 20. Though the mission was in beta model for almost half a decade, its group grew robust, and curiosity in it shot up.

Considerably anticipated, the debut of the PI token was adopted by a right away value crash because the asset was listed on a number of big-name exchanges, comparable to Bitget, OKX, and MEXC. It went from nearly $1.9 to round $0.6 inside hours earlier than it staged a comeback previously 24 hours.

The truth is, the asset has added greater than 66% on a every day scale and now sits near $1.45 after peaking at $1.62 earlier at the moment.

Its market capitalization has not been verified by the 2 largest knowledge aggregators – CoinGecko and CoinMarketCap – however each present that the buying and selling volumes have exploded by 180% since yesterday.

Maybe probably the most possible cause behind the rise in quantity and costs got here from Binance. The crypto big not too long ago held a community vote to find out whether or not its customers would wish to see the PI token out there for buying and selling on its platform.

Though the outcomes will turn out to be official on February 27, the interim numbers are fairly overwhelming. As of now, 85% of all voters have clicked ‘sure,’ which spurred hypothesis from the Pi Community workforce that the itemizing is inevitable.

Such rumors are inclined to speed up the worth will increase of crypto belongings even earlier than they turn out to be actuality, which is usually adopted by a correction, identical to it occurred after Pi Community’s launch this week.

How lengthy do you suppose it’s going to take for Binance to record $PI? pic.twitter.com/reeNr7dgvM

— Pi Information (@PiNewsMedia) February 22, 2025

On the similar time, Pi Community continues its verbal fights towards the not too long ago hacked trade Bybit, whose CEO believes the mission might be a rip-off.