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Pi Network has attracted the cryptocurrency community’s attention since its much-awaited mainnet launch on February 20.
While cryptocurrencies endured a bloodbath, PI soared 80% to 24-hour peaks of $2.99 yesterday.
The price surge coincided with trading volumes exploding past $3 billion.
Can the enthusiasm keep PI price afloat in the coming month?
Pi Network’s strengthening momentum
The impressive trading volumes amidst price surges indicate enhanced market activity and investor sentiments.
High volumes often indicate stable liquidity, translating to seamless transactions and improved user experience.
Also, trading volumes confirm the trend’s strength.
A surge in this metric amidst price surges indicates stable bull activity, translating to extended upswings.
Furthermore, the billions in trading volumes could signal institutional participation, signaling confidence in PI’s future performance.
What’s behind Pi Network’s excitement?
The staggering trading volume suggests increased trader and investor activity in Pi Coin.
Speculations about Binance listing the token contributed to the latest surge.
The exchange’s poll confirmed that the community favored Pi listing on Binance – with 86% ‘Yes’ votes.
🚨 BREAKING: The Binance $Pi listing voting has now ended with 86% of 294,955 votes in favor of the listing. However, Binance is yet to be KYB-verified.
A potential Binance listing will bolster the altcoin’s liquidity and accessibility.
Experts believe such a move could stabilize Pi Coin prices beyond the $4 mark.
Pi’s current price action
The altcoin soared to record highs of $2.99 over the past day.
However, Pi Coin failed to steady at this peak as bears ruled the overall market.
Digital assets witnessed a bloodbath in the past 24 hours amidst escalating macroeconomic worries.
Thus, Pi Network’s price dipped from the daily highs to $2.19 at press time, losing over 15% on the daily price chart.
Chart by CoinmarketcapNevertheless, Pi Coin has demonstrated resilience since its official debut.
The altcoin started trading at $0.6152 and climbed to test $3 in less than a week of launching.
PI Coin is among the most-watched assets in the prevailing markets.
Analysts expect more surges from the token in the upcoming month.
Pi Coin in March 2025: what to expect?
CoinCodex predicts impressive price actions for PI in the coming 30 days.
According to the projections, Pi could soar to $7.63 in March 2025.
Source – CoinCodexThat would mean a more than 240% uptick from Pi’s current price of $2.24.
That altcoin’s average price in the coming 30 days might be $4.50, with $2.19 as the minimum value.
Meanwhile, Pi Coin requires a decisive breakout past $3.14 to signal prolonged uptrends.
That would clear the path to $4 and $5.
Continued buying momentum will extend the upside past $7 in the upcoming sessions.
Nevertheless, PI exhibits massive volatility, making its future unpredictable.
Enthusiasts will watch if Pi Network will continue to outperform the markets or fall prey to broad market sentiments in the coming times.
The post Pi Network trading volume surpasses $3B: could Pi Coin gain 240% in March? appeared first on Invezz
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