Kraken Pro has announced the launch of futures contracts for the Pi Network (PI), resulting in a slight increase in the token's price.
Launch of Pi Network Futures
On May 23, 2025, Kraken Pro announced the launch of perpetual futures for Pi Network (PI) with a leverage of up to 20x. The exchange offers over 40 collateral options across more than 360 markets.
Pi Price Dynamics on May 23
Ahead of Kraken's announcement, PI was trading at $0.7865 with a market cap of $5.686 billion. After the announcement, the price surged to $0.7893, increasing the market cap to over $5.7 billion. At the time of writing, the token is trading at $0.7889.
About Pi Network
Pi Network was launched in 2019 and allows users, referred to as 'Pioneers,' to mine the PI token through their mobile devices. It uses a consensus algorithm adapted from the Stellar Consensus Protocol, minimizing energy consumption and hardware requirements.
The launch of futures on Kraken is an important step in expanding trading opportunities for the PI token, reflecting growing interest in this cryptocurrency.
