Kraken Lists Pi Network: Is This the Comeback for the 91% Off Token?

by

Kraken Becomes First Major Exchange to List Pi Network – But PI Is Still 91% Off Its Peak

As a crypto investor, I’m pretty excited to see Kraken become the first big US exchange to list this mobile-mined token. It’s a big deal because this project has been in development for five years, starting as a closed beta and finally making its way to the open market. It shows real staying power and I’m watching closely.

The release was intentionally scheduled to coincide with the start of Pi Day (March 14th), as the team behind Pi has often used this date for important news. It’s still unclear if this year will follow that tradition.

The Listing and What Drove It

Kraken will begin offering trading of Pi Network’s PI token following its official launch in February 2025. This launch allowed users to begin transferring tokens after a long period of internal development. Initially, Kraken will only support direct purchases of PI with US dollars and will not offer more complex trading options like futures or margin trading.

The market reacted strongly before the official listing. PI’s value increased by 33% over the week, fluctuating between $0.23 and $0.29, with trading volume reaching 60.88 million PI. This announcement confirmed what the project’s supporters, called “Pioneers,” had hoped for: access to major trading platforms and the possibility of being listed on exchanges like Binance or Coinbase.

Pi Network is a new blockchain technology designed for mobile devices. It’s built for developers and features a main network where users are verified, and the system focuses on practical uses.

Post-only mode, deposits enabled.

Trading starts Mar 13 at 15:00 UTC

Get ready →

— Kraken Listings (@krakenlistings)

If PI can break through the $0.24 resistance level around Pi Day, analysts predict its price could rise to between $0.50 and $0.75. However, this increase depends on whether enough investors continue to buy the stock after a scheduled release of previously held shares.

Infrastructure Overhaul Running in Parallel

The recent news about Kraken isn’t a standalone event. It’s connected to major technical changes the company has been working on, which are expected to continue into early 2026.

On March 12th, the network finished a required upgrade to protocol version 20.2. This was the last step needed before launching smart contracts and a built-in decentralized exchange (DEX). This upgrade followed another successful migration to version 19.9 on March 8th. The team believes these updates are fundamental to transforming Pi into a fully operational Web3 environment.

The future development plan focuses on Protocol 23, which will update Pi’s system with the newest advancements from the Stellar Consensus Protocol. We expect this update to be fully functional by the second quarter of 2026.

We’re also getting ready to reward the people who’ve been verifying identities since 2021 – these “KYC validators” will receive on-chain rewards, and we’re in the final stages of testing before launching them by March 31st. Plus, a new tool for developers, released in January 2026, lets apps easily add PI payments, with transactions settling in under ten minutes.

The most exciting news is the upcoming Pi DEX, also known as “Depth Exchange.” This platform, planned to launch around March 14th, will let Pi users trade PI directly from their digital wallets, lessening the need to use centralized exchanges like Kraken for everyday transactions.

The Core Team is investing $100 million in OpenMind, an AI and robotics company, through a new ecosystem fund. This collaboration lets Pi node operators earn PI tokens by providing computing resources, which is intended to increase the practical use of PI beyond just trading.

User Base: Big Numbers, Open Questions

By March 2026, over 19 million users had completed the identity verification process, and more than 16 million had moved their tokens to the main network. Now, a second phase of transfers is underway to move additional funds – like referral bonuses and rewards for network participants – that were earned after the first transfer period.

What’s really striking is the sheer size of the user base – it’s much larger than most blockchain projects. However, the Core Team still needs to figure out how to get those users actively using the blockchain, instead of just holding onto their tokens and waiting for a price increase. That’s the biggest hurdle they face.

Technical Picture: Rally Built on Fragile Ground

Looking at the 4-hour price chart, it appears buying pressure is facing some hurdles. The price has risen quickly, moving above both the 50-period ($0.2234) and 100-period ($0.1968) simple moving averages, and is currently at $0.2734. The Relative Strength Index (RSI) is at 66.51, nearing a level that could indicate overbought conditions, but hasn’t reached it yet. The Moving Average Convergence Divergence (MACD) indicator is showing a bullish signal at 0.0047, with supporting values of 0.0123 and 0.0171, suggesting the price increase is strong and likely to continue.

It’s important to note that despite recent positive news and price increases, PI is still trading far below its peak value – around 90.82% below its all-time high of $2.99 from early 2025. There’s a real possibility that the price will fall after this news, a common phenomenon known as ‘sell the news.’ Additionally, regular releases of previously locked tokens – between 161 and 203 million each month – create ongoing pressure to sell, as early supporters cash out.

Some experts are still raising concerns about the project. They point to the large amount of tokens held by the original development team and the fact that the project has been in development since 2019, leading them to believe it’s being too tightly controlled. It’s currently unknown if everyday investors are taking these issues into account when deciding whether to buy the token.

What Comes Next

Right now, all eyes are on Pi Day, March 14th. If the Core Team successfully launches the decentralized exchange (DEX) and makes any other exchange-related announcements on that day, it could help keep the recent price increase going throughout the week. Breaking above $0.30 would be the next significant hurdle for the price to overcome.

The true measure of the network’s success will be finishing Protocol 23 and launching validator rewards, expected in the first half of 2026. These will demonstrate if the network can deliver on its technical goals and attract real-world use. Significant interest from institutions will likely depend on a clearer understanding of how the token supply will change over time, particularly the schedule for releasing locked tokens.

This article is for informational purposes only and shouldn’t be considered financial, investment, or trading advice. Coindoo.com doesn’t support or suggest any particular investment or cryptocurrency. Always do your own research and talk to a qualified financial advisor before investing.

Read More

2026-03-13 15:38