Pi Network’s PI surges over 30% as Kraken listing lifts it into top-ranked altcoins

Pi Network’s native cryptocurrency, PI, experienced a significant price increase of over 30%, reaching $0.29, in anticipation of its trading launch on Kraken, a major US cryptocurrency exchange. This rally propelled PI’s market capitalization to $2.7 billion, exceeding that of well-known altcoins like Uniswap’s UNI, Bittensor’s TAO, and Polkadot’s DOT. Trading commenced on March 13th, following the confirmation of the listing and a surge in trading volume, which increased by over 130% to $144 million in the past 24 hours.

Launched in 2019 by Stanford graduates Dr. Nicolas Kokkalis and Dr. Chengdiao Fan, Pi Network allows users to mine cryptocurrency on mobile devices using an energy-efficient consensus model. The platform features roles for Pioneers, Contributors, Ambassadors, and Nodes, fostering a collaborative environment for transaction validation and Pi token rewards.

Pi Network aims to establish a fair and accessible crypto ecosystem with tokenomics designed to reward early contributors and promote widespread distribution. Dr. Kokkalis expressed gratitude for the community’s support and pledged to continue providing updates on the project’s progress.

(Source：Crypto Briefing)