Is The Worst Over Or Another Dead-Cat Bounce?

PI is the 100 best performing cryptocurrency today (February 13).

The cryptocurrency market made another move south in the past 24 hours, with many leading digital assets (including BTC) posting small losses.

Surprisingly, PI Network’s defied the bearish environment, posting daily gains of around 8%.

Finally to Green

Pi Network’s native cryptocurrency has fallen sharply over the past few months, disappointing its large base of supporters and investors. In the past few days, its price has dropped to a new low of around $0.13, while its market cap has dropped to around $1.1 billion.

However, in the last 24 hours, the bulls have come in, and PI reached around $0.15. Caps also surpassed $1.3 billion, making it the 55th largest fund.

The notable update comes shortly after the team behind the project provided an update to the Node infrastructure. The developers revealed that the Pi Mainnet blockchain protocol is undergoing a series of developments and set a deadline of February 15 for the first development.

The Core team explained that they will use a consensus algorithm with Pioneers who have applied to become Nodes and successfully install all the necessary blockchain software on their computers.

“While our hope is to include as many Pioneers as possible when defining Node requirements, the availability and reliability of individual nodes in the network affects the security and viability of the network,” reads the official announcement.

The revival of the price of PI also coincides with the decrease in the opening of tokens. An estimated 19 million coins are scheduled to be released today (February 13), marking a record day for the next 30 days. By the end of the month, daily openings are expected to drop below 5 million, which could reduce sales pressure and help stabilize the price.

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Latest Rumors

Earlier this month, some X users speculated that Kraken was preparing to allow PI trading services. Such support from one of the leading crypto exchanges is likely to have a positive impact on asset prices, as it can increase its currency and availability and improve its reputation.

Perhaps the biggest improvement will be if Binance decides to accept PI. The world’s largest crypto exchange was expected to do it last year and even held a public vote to decide if its users wanted a token listed on the platform. Despite the massive support, Binance has yet to honor their wish.