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Pi Network Surges Past Hedera amid Market Slump

Pi Network Surges Past Hedera amid Market Slump

CoinspeakerCoinspeaker2025/03/03 16:00
By:By Mayowa Adebajo Edited by Julia Sakovich

One major factor inspiring this Pi Coin’s resilience is growing speculation around a potential Binance listing.

Key Notes

  • The Pi Network has defied the gloomy market trends, climbing 5%.
  • Its Pi Coin has displaced Hedera (HBAR) to rank 11th by market capitalization.

While most tokens are seeing staggering devaluations today, the Pi Network’s Pi Coin has defied the odds, climbing 5%. As of this publication, the cryptocurrency has secured a spot as the 11th largest crypto by market cap, overtaking Hedera.

Pi Network Defies Market Downturn

Since last weekend, the crypto market has been up and down, witnessing losses that, averagely, may even be heavier than the gains it saw at some point. So much so that many whales have sold off their holdings, while others are holding off from making any further investments.

The situation has also seen a vast majority of tokens, including top ones such as Bitcoin BTC $91 369 24h volatility: 1.1% Market cap: $1.81 T Vol. 24h: $51.39 B , ETH ETH $2 300 24h volatility: 1.4% Market cap: $277.70 B Vol. 24h: $21.46 B , SOL SOL $151.5 24h volatility: 1.2% Market cap: $77.05 B Vol. 24h: $4.98 B , etc., shedding significant parts of their values in such a short time. Despite this, however, market data shows that Pi Coin is putting up a strong performance that is quite rare at the moment.

On Tuesday, the value for a Pi Coin initially rose by over 5% in 24 hours to attain a day high of $1.85. As of this publication, however, the price stands at $1.73, still up 0.21% over the last 24 hours.

On the weekly chart, Pi is also up 11.11%, pushing its market cap to $12.02 billion.

Pi’s performance is particularly noteworthy given the timing that it displaced Hedera (HBAR) to 12th place on the global crypto market standing. The displacement comes at a time when Hedera is seeing hype over a possible ETF listing.

Despite news of the potential listing, which initially instigated a rallying for the token, HBAR has now dipped 7% to $0.2303. The recent correction has also taken its market capitalization down to $9.65 billion.

Similarly, top digital tokens such as Bitcoin (BTC), Ethereum (ETH), XRP, and Solana (SOL) have dropped between 9% and 15%. This explains the market’s surprise seeing Pi Coin buck the trend. In any case, investors remain cautious as they wait patiently to see what’s next for the token.

What’s Driving Pi Coin’s Growth?

As Coinspeaker earlier reported , one major factor inspiring this Pi Coin’s resilience is growing speculation around a potential Binance listing. Since the poll that Binance conducted last month about listing the token on their platform, the Pi Network community has been pushing for the exchange to add the token.

In fact , a popular hashtag “#ListPiOnBinanceNow” has been a trending conversation on X. As would be expected, a decision by Binance to list Pi Coin would not only bring a new wave of interest and investment. It will also further drive up its price.

There aappear to be a few more reasons behind the unexpected price surge of Pi. One is the Pi Network’s decision to extend its KYC and mainnet migration deadline.

Beyond that, discussions have also emerged about Pi Coin potentially being included in the US Crypto Reserve. With Donald Trump reaffirming his commitment to making the US the global hub for crypto, some believe that Pi Coin could be added to the list of strategic assets. That is, alongside Bitcoin, XRP, SOL, and ADA.

As the market looks ahead, all eyes are now on Pi Day, which falls on Friday, March 14. Many traders and analysts expect key announcements that could impact Pi Coin’s price. According to Pi Coin enthusiast Dr. Picoin, the token is currently retesting the $1.80 resistance level. If it manages to break through, it could surpass $2 once again this week, he said .

For now, investors are watching closely to see if Pi Coin can continue defying market trends or if a correction is on the horizon.

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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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