- Pi Network is facing resistance while speculation about a Binance listing fuels optimism.
- Token unlock events could trigger strong selling pressure, risking a drop below $1.
Pi Network’s value is currently around $1.35. Despite broader market volatility, Pi has been stable, trading as high as $1.41 and as low as $1.30 for the day. The token has, however, shed nearly 26% over the past week, indicating some weakness.
Market participants are also cautious since future token unlocks can contribute to selling pressure. Based on statistics from PiScan, an estimated 9.05 billion Pi tokens, valued at $18.11 million, are unlocked daily.
Notably, the March 17 and March 21 unlocks will reach 23.1 million Pi ($46.27 million) and 23.4 million Pi ($46.88 million), respectively. Over the coming 30 days, a total of 271.68 million Pi tokens, which is approximately $543.36 million, will be unlocked.
With a huge amount of tokens coming into the market, fears are rising of a fall below the $1 psychological support. Traders are on edge, watching key support and resistance levels.
Pi is currently facing strong resistance at $1.4561, and if buyers fail to break through this level, a further drop may be imminent. Conversely, if the price breaks below the $1.2084 support, a deeper drop toward $1.1859 could be on the horizon.
Pi Adoption Expands into Real Estate
Despite its price volatility, Pi Network has reached a major adoption milestone. Zito Realty LLC, a Florida real estate company, has started accepting Pi Coin as payment for real estate deals.
This move puts Pi on equal footing with Bitcoin as one of the sole accepted cryptocurrencies in the trillion-dollar U.S. real estate industry. The U.S. real estate market has grown to $3.43 trillion as of 2024, so the entry of Pi into this sector is quite an achievement.
Zito’s embrace of Pi encourages real-world usage and establishes the token as a mainstream financial instrument. By integrating Pi into real estate purchasing, the company is attempting to play a role in the network’s long-term vision of decentralized finance.
Zito’s announcement also aligns with Pi’s broader push toward mainstream adoption. Since real estate is a significant sector, this acceptance could open doors for further integrations in other sectors as well. If more companies join, Pi’s use cases can grow, and with it, its demand in the long run.
Potential Binance Listing Could Propel Pi Coin to $2
Despite the short-term selling pressure Pi is experiencing, market sentiment is bullish regarding a possible Binance listing. Pi Coin is ranked 11th in market capitalization, which positions it among the leading digital assets that have not been listed on Binance yet.
As we reported, a previous Binance voting session showed that 86% of the voters wanted to list Pi. As Binance tends to list high-ranking cryptocurrencies, traders believe that Pi could be next.
With Pi Day (March 14) approaching, there is increasingly widespread speculation that the Pi Network team will issue a significant announcement regarding exchange listings.
If Pi gets listed on Binance, it could lead to a surge in demand, pushing the price to the $2 mark. However, without the confirmation of the listing, Pi’s immediate direction is uncertain.