Pi Network: Will It Break $1 or Bounce Back? Key Factors Influencing Its Future

Pi Network Faces Resistance Amid Speculation of Binance Listing: Token Unlocks Pose Potential Risks

Pi Network, currently trading around $1.35, is experiencing resistance as speculations about its possible Binance listing fuel optimism. However, recent concerns about upcoming token unlock events could trigger strong selling pressure, potentially causing a drop below the $1 psychological support. Despite broader market volatility, Pi has maintained relative stability, with a daily trading range of $1.30 to $1.41. However, Pi has shed nearly 26% over the past week, signaling a bearish trend.

Token Unlock Events and Selling Pressure

Pi Network’s daily token unlocks, as reported by PiScan, are a critical factor in determining the token’s future price movement. Around 9.05 billion Pi tokens—valued at $18.11 million—are unlocked daily. In particular, the March 17 and March 21 unlock events will release 23.1 million Pi ($46.27 million) and 23.4 million Pi ($46.88 million), respectively. Over the next 30 days, a total of 271.68 million Pi tokens (approximately $543.36 million) will be unlocked.

These unlock events have sparked concerns among traders, as they could lead to increased selling pressure. As a result, many are closely monitoring Pi’s support and resistance levels. Pi is facing significant resistance at the $1.4561 mark, and if buyers fail to break through this level, a further price decline may follow. On the other hand, if Pi drops below its current support level of $1.2084, a deeper drop towards $1.1859 could be imminent.

Pi’s Real Estate Adoption: A Step Toward Mainstream Usage

Despite the ongoing price volatility, Pi Network has achieved a significant milestone in adoption. Zito Realty LLC, a Florida-based real estate company, has announced it will begin accepting Pi Coin as payment for real estate transactions. This move places Pi on a similar footing to Bitcoin, which is one of the few accepted cryptocurrencies in the U.S. real estate market, valued at $3.43 trillion in 2024.

Zito Realty’s adoption of Pi Coin marks a crucial step in the network’s vision of decentralized finance (DeFi) and real-world usage. By embracing Pi, Zito aims to integrate cryptocurrency into the real estate industry, potentially opening doors for further Pi use cases in various sectors. As more companies begin accepting Pi for transactions, its demand and utility could experience substantial growth in the coming years.

Potential Binance Listing Could Propel Pi to $2

Despite the ongoing short-term selling pressure, market sentiment remains bullish regarding Pi Network’s potential Binance listing. Pi Coin is currently ranked 11th in market capitalization, positioning it among the top digital assets that have yet to be listed on Binance. A previous Binance voting session revealed that 86% of voters supported Pi’s listing, further fueling speculation.

With Pi Day (March 14) approaching, traders anticipate a significant announcement from the Pi Network team, potentially confirming the long-awaited exchange listing. If Pi is listed on Binance, it could trigger a surge in demand, sending the token price to $2 or beyond. However, without official confirmation, Pi’s immediate price direction remains uncertain.

Conclusion

Pi Network is at a crossroads, balancing between short-term selling pressure and long-term adoption potential. While token unlock events pose risks, the growing adoption of Pi Coin in industries like real estate and the possibility of a Binance listing offer a glimpse of future growth. Traders and investors alike will need to keep a close watch on market developments as Pi’s journey unfolds.