After more than a month of market decline, Pi Coin (PI) of Pi Network has finally seen a significant price recovery.
This price increase occurred just a few days before Pi2day, leading to high expectations from Pioneers that PI could surge strongly. However, Ray Youssef, CEO of NoOnes, warned that this is not enough to create significant price volatility.
Will Pi2Day Trigger a Price Surge for PI?
It is important to note that PI's recent gains are part of a broader positive trend in the cryptocurrency market. BeInCrypto reported today that the total market Capital has increased by 36 billion USD.
However, many Pi pioneers remain optimistic that the increased attention around Pi2Day could drive a price surge.
"Have you taken your medicine? It suddenly reached 0.6 USD. Will it suddenly increase to PI (0.8 USD, 1 USD, 1.5 USD, 2 USD, 3 USD) later? Only a few days left until Pi2day. There is a lot of space for development," Pi Barter Mall posted.
However, not everyone believes in the potential impact of Pi2Day on price.
"More than a market catalyst, Pi2Day is a symbolic celebration reminding everyone that the Pi ecosystem exists, and that is not enough to translate into price action. Increasing liquidation, accessing new markets, and product deployment are the real factors that drive price and change supply-demand balance," Ray Youssef told BeInCrypto.
Besides hopes for a price increase, some predict a Binance listing announcement on Pi2Day. Despite strong support from the Pi Network community, the exchange has not yet listed the Token.
This has raised concerns about why the listing has not occurred, especially when there is strong user demand. Youssef explained that exchange listings are not determined by popularity but by risk assessments.
He emphasized that Binance and other platforms typically evaluate many factors before listing a Token. These factors include legal clarity, technical readiness, security, and large-scale liquidation management capability.
The CEO added that there is very little public information about how the Token economy and supply work when Pi Network transitions to an open environment. These factors contribute to the delay in listing PI on major exchanges like Binance.
"From a legal and compliance perspective, Pi has not provided sufficient transparency. There are still questions: Is this a utility Token, a reward system, or something else? Who controls the nodes? How are disputes resolved? These are some questions exchanges ask before putting their reputation on the line. Even with community enthusiasm, listing Pi on Binance will need to prove it's not just a closed ecosystem," the NoOnes CEO noted.
The Future of Pi Network
Youssef also shared his perspective on the network's future. He emphasized that Pi Coin has a unique position due to widespread acceptance from its base. However, it currently lacks significant liquidation and practical utility.
"Pi's future depends on the team's ability to transition to the deployment phase, leaving behind the hype through elements like the Primary Network open for free trading on public blockchains, which will allow price discovery and participation," he said.
Youssef points out that the network must develop beyond just mining. According to him, a developing ecosystem needs third-party applications and real-use cases to create valuable tools, integrate with commerce, and provide tangible services.
From both regulatory and exchange perspectives, achieving compliance and transparency will be crucial in attracting the liquidation that Pi currently lacks.
Finally, the CEO highlighted what PI needs for long-term success and higher value.
"For Pi to sustainably reach or exceed 10 USD in a real market, it will need a full Primary Network launch with open transactions, listing on high-liquidation exchanges, a real economic layer where people use Pi to buy, sell, or pay for services, and inflation control to ensure newly unlocked tokens don't flood the market," Youssef told BeInCrypto.
Pi Network Price Increases Before Pi2Day
According to the latest data, PI's price has increased 15.8% in the past 24 hours, currently trading at 0.615 USD. This Altcoin is recovering from the losses it has faced throughout this month.
The recent upward movement suggests that PI may regain momentum if it maintains important support levels and continues to attract buyer interest.
To fully recover, PI needs to maintain support at 0.579 USD. If the coin can convert the resistance level of 0.617 USD into support, it may pave the way for an increase to 0.646 USD, completing the recovery of losses from June.
Pi Network Price Performance. Source: TradingViewA sustainable price increase would indicate that PI's upward momentum remains. Therefore, a continued price surge could lead PI back to 0.787 USD.
However, if the market cannot maintain the price momentum, PI could drop to 0.541 USD again. If it cannot hold this level, it is likely to fall to 0.500 USD. This would invalidate the current price increase prospects, signaling that price correction may continue.
Notably, although Pi Network shows recovery and expectations for Pi2Day, its long-term success depends on addressing issues of liquidation, utility, and regulatory transparency. The future of Pi Coin depends on overcoming the closed system to achieve sustainable growth.
