Pi rallies more than 30% after Kraken announces listing
The Pi Network's PI token surged over 30% after the crypto exchange Kraken announced it would list the asset.Summary
The Pi Network's PI token experienced a significant rally, increasing by more than 30% during Friday's Asian morning hours, following the announcement by the crypto exchange Kraken that it would list the asset. Pi Network is a mobile-first cryptocurrency project that uses a phone-based trust graph instead of traditional proof-of-work mining, allowing users to 'mine' tokens daily via a mobile app. The project launched its externally connected mainnet in February 2025, reporting approximately 19 million KYC-verified users. Despite its listing on exchanges like OKX, Gate, and Bitget, the project faced controversy when Bybit CEO Ben Zhou refused to list PI in February 2025, citing a 2023 warning from Chinese police that alleged the project targeted elderly users and caused financial losses.
(Source：CoinDesk)