Pi Network price continues to outperform other cryptocurrencies, defying the gloomy forecasts made prior to its mainnet launch. Pi coin has rallied to almost $2, up over 200% from its lowest level on record. Let’s explore the top three reasons why the value of Pi may surge to $50 by 2027.
Potential Pi Network ETF Approval
One catalyst that may lead to a Pi Network price surge is a potential ETF approval by the Securities and Exchange Commission (SEC). While no Pi ETF application has been made, there are chances that some Wall Street firms will take note and do that in the next few months.
That’s because Pi is a Made in USA coin that has become one of the biggest players in the crypto industry. Its market cap has jumped to over $13.4 billion, while its fully diluted valuation is over $191 billion. This fully diluted valuation makes it the third-largest cryptocurrency after Bitcoin and Ethereum.
Pi Network’s valuation makes it bigger than other cryptocurrencies that have had ETF applications, such as Polkadot, Hedera Hashgraph, Litecoin, and Solana. It is also highly popular among users, as evidenced by the daily volume, which often ranges between $800 million and $1 billion.
In line with this, there are chances that Pi Network will be added into Donald Trump’s crypto reserves if the bill passes in Congress.
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Pi Coin Exchange Listings
Pi Network has performed well even as several crucial tier-1 exchanges have remained on the sidelines. Binance users voted overwhelmingly for the exchange to list the coin, but the exchange has not done it yet. There is a chance that the global exchange will ultimately list the coin.
Also, key exchanges like Coinbase, Upbit, Kraken, and Gemini are yet to list Pi. Like Binance, they will likely do that as the coin’s popularity surges.
These listings will be notable due to the clients they target. Coinbase and Kraken are highly popular among American customers, while Upbit is popular among South Korean users. As such, this listing will likely lead to a Pi Network price surge.
Pi Network Is Not a Scam and Has Utility
Furthermore, Pi Network’s demonstrated legitimacy may lead to a price surge, as many no longer consider it a scam. Pi Network never stole funds from anyone, and all the verified pioneers who completed their KYC process received their tokens. As such, this fact may attract more investors into the network over time.
Additionally, Pi Network will continue to be useful as it attracts more developers to the ecosystem. There are now over 100 apps in the network, and some are becoming popular among users. Over 27,000 businesses have started to accept the coin.
Can Pi Coin Price Hit $50?
Pi Network coin was trading at $1.90 on Thursday, meaning that it needs to jump by over 2,526% to get to $50. Such a remarkable increase is achievable in the crypto industry. Bitcoin price has already surged from near zero in 2009 to over $100,000 this year.
Most recently, Mantra’s price has soared by over 20,000% in the last 18 months. Therefore, if there are enough catalysts to support the surge, the token can jump from below $2 to over $50.
READ MORE: Why Is the Pi Network Price Soaring?
