Kraken Validates Pi Network: An Unexpected Breakout?
The announcement sent shockwaves through the crypto ecosystem. Kraken confirmed the opening of spot trading for PI, finally offering a regulated gateway to the US market. This news immediately triggered a bullish breakout, propelling the token to around $0.23 with surging volumes.
After a brutal retracement of over 90% from its ATH of $2.99 reached during the Open Network launch in February 2025, this renewed liquidity gives hope back to investors. Integration on a platform of this caliber brings technical and commercial legitimacy to an asset that struggled to convince institutional players.
Between Alleged Scam and Adoption, a Divided Market
While Kraken opens its doors wide, the overall market sentiment remains tinged with mistrust. The smartphone mining project carries a tainted reputation, and several major industry players maintain a resolutely bearish stance toward it.
Recently, exchange Bybit categorically refused to list the mobile platform. Its CEO, Ben Zhou, justified this decision by citing warnings from Chinese police, openly calling the project a massive scam. This dichotomy creates a climate of high volatility.
Experienced traders are now closely monitoring the order book. The massive influx of “Pioneers” looking to cash out their freely mined tokens could quickly turn into selling pressure, risking a violent post-listing correction.
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Can Pi (PI) Price Smash Through the $0.30 Barrier?
With the recent deployment of the v20.2 update and excitement around “Pi Day” scheduled for March 14th, catalysts for a potential bull run are accumulating. A successful integration on Kraken could even force the hand of other giants like Binance or Coinbase, triggering a new wave of massive buying.
However, caution remains warranted. PI will need to successfully break through the 3-day order block at $0.32. Above that level, PI has a clear path to $0.50, or even $0.72 in the coming months. A return below $0.26 would invalidate the breakout and a new phase of consolidation or correction could take place.
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