What you need to know
What has been the main driver behind Pi Coin’s price increase?
Significant ecosystem developments are driving the rally, including the completion and integration of ISO 20022 as well as additional KYC.
What is the current activity on the derivatives markets?
A positive Funding Ratio and rising Open Interest indicate a dominant long position, which could lead to a price trend that favors the bulls towards $0.6.
Pi Coin [PI] The bullish trend has continued, with a further 15% gain in the last 24 hours. This recent rally is driven by the ongoing developments in ecosystems that are continuing to increase investor confidence.
Pi will remain positive in the long run if its momentum continues to support the price.
Ecosystem developments drive growth
Pi Network has announced the completion and verification of KYC for 3.36 Million additional Pioneers.
It is a result of the new AI-driven KYC system, which enabled the verification of 4.76 millions tentative KYC requests. This brings the number of users migrated to 2.69million.
These advancements mark Pi’s effort to comply with international standards as it prepares for ISO 20022 integration—a move that will align its ecosystem with global financial data exchange protocols.
Source: Piexplorer
Fen Leng is one of Pi’s key contributors. on X (formerly Twitter) clarified the migration of its network is ongoing and that any rumors that it has been completed are false.
“$Pi Testnet2 is currently still at v19 and has not yet been successfully upgraded to v23, so don’t believe any rumors.”
Investors rallied around PI
Investor sentiment towards the asset has overwhelmingly turned bullish following the recent announcements.
CoinMarketCap data showed that 92% (4.4 million) of investors who track Pi have voted in favor, indicating increased accumulation.
CoinMarketCap
The optimism of traders is also evident in the derivatives markets, which bet on future price increases. According to CoinalyzeThe Funding rate of the asset has now turned positive, at 0.0055%. Meanwhile, Open Interest is up to $33 Million in the last 24 hours.
A positive Funding rate and rising open interest indicate that the majority of Pi contracts is dominated by bulls.
Chart with critical point
At the time of publication, PI was trending in a key technical zone, which is a typical resistance area that triggers a downward price movement. The sentiment indicator and the technical indicators, however, pointed towards a breakout.
TradingView
Relative Strength Index remained bullish at 65. This indicates strong pressure to buy. If the asset breaks above this resistance level, it could rally toward $0.5 — $0.6, potentially revisiting its May highs.
PI’s upward trend could be extended and it may even reach new heights with the growing derivative activity, and progress in its ecosystem.
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Source: ambcrypto.com
