TLDR
- Kraken Pro launched PI perpetual futures on May 23 with 20x leverage, marking Pi Network’s entry into major exchange futures trading
- Pi Network price currently trades at $0.78, down 27% from the target $1 mark and 3% in the last 24 hours
- Technical indicators show mixed signals with MACD remaining bearish and Sharpe Ratio at -6%, indicating weak momentum
- Pi Network ecosystem continues growing with 60 million users, 19 million KYC accounts, and 25 decentralized apps
- Price faces key resistance at $0.87, with potential pullback to $0.71 support if bullish momentum fails to materialize
The Pi Network reached a major milestone on May 23 when Kraken Pro officially listed PI perpetual futures trading. The new offering provides up to 20x leverage and supports more than 40 collateral assets.
This development marks Pi Network’s first major futures trading availability on a leading exchange. The listing represents an important step for the project’s institutional recognition.
Despite the Kraken listing generating initial optimism, PI price action has remained subdued. The token currently trades around $0.78, representing a 3% decline over the past 24 hours.
Pi Network briefly touched $1.60 earlier this month before retreating to current levels. Daily trading volume has dropped over 60% from recent highs, indicating reduced market interest.
The price decline comes even as Pi Network continues expanding its ecosystem infrastructure. The project now boasts over 60 million users and 19 million verified KYC accounts across its platform.
Technical Analysis Shows Mixed Signals
Technical indicators present a complex picture for Pi Network’s price outlook. The token remains locked in a narrowing range beneath a descending resistance line between $0.73 and $0.78.
Chart analysis reveals an emerging descending triangle formation. This pattern often precedes a directional breakout, though the direction remains uncertain.
The Sharpe Ratio currently sits at -6%, indicating some bearish momentum but not enough to trigger a full market reversal. Historical data shows significant rebounds typically occur when this ratio reaches -19%.
MACD indicators continue showing bearish signals with persistent red bars. The bearish crossover pattern suggests downward pressure may continue in the near term.
Most hourly indicators remain bearish according to technical analysts. The RSI shows weakness while volume fails to support any meaningful price moves.
Network Growth Continues Despite Price Weakness
Pi Network’s Open Mainnet officially launched in February and continues expanding. The ecosystem now hosts over 25 decentralized applications with more in development.
Users can activate Pi wallets and engage in app-based transactions. The network allows gradual migration of mined Pi coins to the mainnet for real-world usage.
The Pi Core Team announced plans to allow conversion of Fireside tokens into Pi coins. This move could influence supply dynamics and impact future price movements.
Pi Network Enters US Market with Kraken Pro Leverage Listing
Kraken Pro has announced perpetual futures trading for the Pi Network’s native token, $PI, allowing traders to employ up to 20x leverage. The leverage listing enables users from the USA to trade perpetuals futures of… pic.twitter.com/0NXPTD7CmE
— Pi OpenMainnet 2025 (@Pi_OM_2025) May 24, 2025
Recent reports allege that 12 million tokens were sold from insider-controlled wallets. These sales contributed to a 50% price crash earlier this month.
The network expanded from three to 23 global validator nodes. Critics argue that control remains heavily concentrated among the core team members.
Pi Network faces ongoing criticism regarding transparency and decentralization. Many investors remain uncertain whether price movements reflect genuine demand or artificial controls.
Key resistance levels sit at $0.87, with potential targets at $0.96 and $1.20 if momentum improves. A breakout above $0.78 could confirm bullish momentum toward the $1 target.
Support levels remain at $0.71, where the price could retreat if bearish pressure continues. The 27% gap to $1 represents a psychological barrier for many investors.
Kraken Pro’s futures launch provides Pi Network with increased legitimacy and trading infrastructure for institutional participants.
The post Pi Network (PI) Price: Kraken Futures Launch Fails to Spark Rally Above $0.78 appeared first on Blockonomi.
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This articles is written by : Nermeen Nabil Khear Abdelmalak
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