MEXCPi Network Outpaces Hedera Despite HBAR ETF Hype; PI Coin Price To Rally?
Highlights
- Pi Network secures 11th place by market capitalization, outpacing Hedera.
- Pi Coin price soared 5% despite the broader crypto market crash today.
- Recent market trends indicate PI rally to sustain in the coming days.
Pi Network has once again emerged as the talk of the town defying the current gloomy market trend. Pi Coin price recorded a surge of over 5% today despite a broader crypto market selloff, with BTC, ETH, XRP, and SOL losing between 9% and 15% each. Besides, the crypto has also secured 11th place as a top asset by market cap, outpacing Hedera despite the HBAR ETF hype.
Pi Network Outpaces Hedera: Here’s All
Pi Network has secured 11th place on the top crypto ranking, surpassing the market cap of Hedera. Besides, it also emerged as a clear winner despite a broader crypto market selloff, with more than $1 billion in liquidation over the last 24 hours.
Notably, this comes as Pi Coin value added more than 5% and exchanged hands at $1.73, after touching a 24-hour high of $1.85. On a weekly basis, the crypto has added 11% reaching a market cap of $12.02 billion.
On the other hand, the 12th ranked crypto, Hedera price today was down 7% to $0.2303 with a market cap of $9.65 billion. Notably, this decline comes despite the recent hype over the HBAR ETF launch in the US with Grayscale’s 19b-4 Hedera ETF filing with the US SEC. However, it appears that the optimism faded due to the broader crypto market selloff.
What’s Next For Pi Coin Price?
The recent market trends indicate that Pi Coin price is likely to continue its rally in the coming days. For context, the soaring anticipation over a potential Binance listing of the token has fueled market optimism so far.
Recently, the Pi Network community has made a trend of “#ListPiOnBinanceNow” on X, reflecting their growing expectation of such a development. This development, if happens, could significantly boost the crypto’s appeal to the investors.
On the other hand, crypto has also gained notable traction recently, as it extended deadlines for KYC and mainnet migration for Pioneers. This extension, as per their announcement, is the last chance for the traders to migrate to the mainnet.
A Closer Look Into The Recent Market Trends
The market also discussed Pi Coin’s potential to be added to the US Crypto Reserve asset in the coming days. For context, Donald Trump has reiterated his pledge to make the US the crypto capital of the world. Besides, he also revealed plans to add US-issued altcoins like XRP, SOL, and ADA alongside Bitcoin as a Strategic asset.
Having said that, the community anticipates Pi Network to be added as a US Strategic Reserve asset in the near future. This development, if happens, could further trigger a robust rally in the asset’s price.
Meanwhile, all eyes are now on the upcoming Pi Day on Friday, March 14. A flurry of market experts anticipates positive announcements or key developments regarding the Pi Coin on this date. Notably, a Pi Coin enthusiast Dr Picoin recently said that as the crypto is retesting the $1.8 resistance, it is likely that it will soar past the $2 mark again this week.
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