Key Points
- PI surged by over 53% today, reaching a new ATH above $2.41.
- The project launched its Open Network officially on February 20.
Today, Pi Network (PI) recorded a significant price surge, reaching a new ATH earlier. The digital asset’s price comes amidst intense market volatilty.
PI Reaches a New ATH
Earlier, PI surpassed $2.41, its new ATH. The coin debuted an ascendant trajectory from around $1.61, and hit a new historical high, before settling to current price levels.
At the moment of writing this article, PI is up by over 53% in the past 24 hours.
Since February 20, the digital asset recorded a continuous ascendant trajectory, reaching one ATH after another.
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Why is PI Up Today?
The digital asset’s price has been continually surging this week despite the market volatility which is remarkable. Here are some factors why the PI coin continues its ascendant trajectory:
- Open Network Launch – The team launched the project’s Open Network on February 20.
- Listing on Exchanges – Apart from Bybit, various crypto exchanges listed the coin.
- Strong Community Support – The project claims to have amassed over 60 million users.
- Scarcity and Locked Tokens – Many coins remain locked, restricting the circulating supply and potentially driving up prices.
What is the Pi Network (PI)?
Pi Network allows users to mine crypto from their mobile devices. The project’s users are reportedly known as Pioneers.
The network’s users perform the following:
- Mining PI tokens
- Validating transactions
- Contributing to dApps
Previously, Pioneers contributed to advancing the project towards its Open Network launch.
The project’s Open Network launched on February 20, enabling external connectivity on the Mainnet Blockchain.
Even if the community of Pioneers was disappointed immediately after launch when PI’s price surged but dropped significantly, PI picked up steam and it continues to surge.
