The Pi Network (PI) cryptocurrency saw a significant daily increase, with its price reaching nearly $0.65, although it subsequently settled slightly at $0.60. This growth represents approximately 6% appreciation in a single day and reflects broader positive developments in the cryptocurrency market.
The market’s recovery has been driven primarily by the easing of global trade tensions, particularly due to US President Donald Trump’s decision to suspend the implementation of new tariffs for 90 days. Reduced tariffs on imports from more than 75 countries contributed to the positive sentiment, while duties on Chinese goods rose sharply. As a result, Bitcoin surpassed the $83,000 mark and Ethereum moved above $1,600.
New strategic agreements, most notably the collaboration with global payment provider Banxa, are also likely to have had a positive impact on the PI price. The latter has reportedly purchased over 30 million PI tokens, indicating confidence in the project’s future. In just 48 hours, a further 1.2 million PIs were purchased through Banxa.
The Pi Network community has noted this price increase with enthusiasm, and some members believe in another significant shift. User X, nicknamed MOON JEFF, even predicted the possibility of a “V” turn on the price chart that could lead to a rise above the $2.50 mark.