Pi Coin, the cryptocurrency from the Pi Network project, demonstrated significant growth of over 20%, starting trading at $0.64 and reaching a peak of $0.701. This activity attracted traders' attention, especially with the increase in trading volume.
Overview of Pi Coin's Price Surge
Beginning trading at $0.64 and hitting $0.701, Pi Coin's price attracted traders' attention. The increase in trading volume to nearly $1 billion was one of the reasons for the price rise.
Trading Volume Exceeds Cardano
In the last 24 hours, Pi Coin's trading volume increased by 92%, reaching $920 million, surpassing the popular altcoin Cardano, which had a volume of $843 million. The increase in volumes also contributed to the market capitalization of Pi Coin exceeding $4 billion.
Partnership with Banxa and Community Demands
The partnership with Banxa, allowing the purchase of Pi Coin with fiat money, was one of the factors contributing to the recent surge. However, some community members find this insufficient. Detractors suggest more radical measures such as burning billions of Pi coins held in wallets of the Pi Foundation.
Thus, the increase in Pi Coin's price amid rising trading activity and the partnership with Banxa creates an interesting backdrop for the project's further development, despite warnings about potential risks.
