Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Pi Network Surpasses Hedera, Secures 11th Spot in Crypto Rankings

Pi Network Surpasses Hedera, Secures 11th Spot in Crypto Rankings

CointribuneCointribune2025/03/06 07:11
By:Cointribune

As the crypto market goes through a turbulent phase, an unexpected asset is catching everyone’s attention. In a climate marked by widespread losses, Pi Network has just dethroned Hedera (HBAR) in market capitalization, rising to the 11th place in the crypto rankings. This turnaround raises questions about both the drivers of this ascent and the sustainability of the phenomenon. Amid the rout of giants like Bitcoin, Ethereum, and Solana, how does Pi Coin manage to show gains?

Pi Network Surpasses Hedera, Secures 11th Spot in Crypto Rankings image 0 Pi Network Surpasses Hedera, Secures 11th Spot in Crypto Rankings image 1

An Unforeseen Surge

For several days, the crypto market has been in free fall. Bitcoin, Ethereum, and Solana are facing losses of up to 15%, illustrating the reluctance of investors in the face of an uncertain economic context. Yet, in this chaos, Pi Network is displaying unprecedented resilience. In just 24 hours, the asset surged by 5%, reaching $1.85 before returning to $1.73. Nevertheless, it maintains a weekly gain of 11.11%. This movement propels Pi Network’s market cap to $12.02 billion, thus surpassing Hedera ($9.65 billion).

This shift occurs as Hedera was still enjoying excitement around a potential ETF listing. This announcement, although briefly boosting the price of HBAR, was not enough to halt the 7% correction the asset experienced. The dynamics observed in Pi Network , on the other hand, intrigue due to their uniqueness, particularly in the context of a widespread bearish environment.

The Hidden Drivers Behind Pi Network’s Ascent

If Pi Network is managing to stand out, several factors explain this meteoric rise. One of the triggering elements is the intense speculation surrounding a potential listing on Binance. Ever since a poll conducted by the platform brought up this possibility, the community has rallied around the hashtag “#ListPiOnBinanceNow”, amplifying investor interest. A listing on the exchange could reinforce the asset’s legitimacy and liquidity, which would be enough to sustain a bullish dynamic.

Moreover, another catalyst lies in the prolongation of the KYC verification process and the migration to the mainnet, two initiatives intended to enhance the network’s adoption. In parallel, some speculations even mention the inclusion of Pi Network in a U.S. strategic reserve, in a context where the Trump administration exhibits an increasingly pro-crypto posture. These rumors, although unconfirmed, contribute to maintaining optimism around the asset.

The trajectory of Pi Network triggers as much hope as doubt. As Pi Day approaches on March 14, some anticipate key announcements that could extend this bullish dynamic. Analysts are currently observing a test of the $1.80 resistance level, a critical threshold that, if crossed, could propel Pi Network beyond $2. However, this ascent remains fragile. Without a concrete catalyst, the risk of a brutal pullback remains, particularly if Binance does not confirm the listing or if the global market continues to contract. It remains to be seen whether Pi Network can establish itself as a solid asset or if it will merely be a speculative spark in a crisis-hit market.

9

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.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!