Pi Network has remained stable over the past 24 hours, holding at $0.5917 as the crypto market lost 2.5% today. PI is still down 4% in a week and 8% in a month, while the altcoin is also down 80% since hitting an all-time high of $2.99 ​​on February 26.

While the token has had a disappointing performance since this peak, recent news seems more positive for Pi Network as its community celebrates a “collaboration” between the platform and French multinational bank BNP Paribas.

However, upon closer inspection, we see that BNP Paribas has confirmed that there is no such partnership and that the partnership is essentially just a Pi Network API that can be used in the hypothetical event of a deal between the two parties.

Therefore, it is unlikely that this will have a major impact on the long-term PI price prediction, which remains uncertain due to the lack of widespread exchange support.

Pi Network Price Prediction: Can BNP Paribas Partnership Trigger a $10 Bull Run?

This 'news' comes from a post on Pi Coin Magazine's X, which has a total of 282 followers.

This article describes two separate things but presents them in such a vague and misleading way as to suggest that they are related.

First, the article talks about digital payment systems that BNP Paribas has developed and deployed in recent months, while BNP Paribas' page on these products actually makes no mention of Pi Network.

Second, the post talks about the Pi Nexus Banking System, a set of APIs that aim to enable integration between the Pi Network and various banks and fintech companies.

However, the problem is, although Pi Network developers have prepared an API to integrate with BNP Paribas, BNP Paribas has not given any signal that they will cooperate with Pi Network.

In fact, a GitHub repository shows that developers have prepared similar APIs for a variety of financial services companies, including Barclays, Apple Pay, PayPal, Adyen, and many others.

Of course, such APIs do not mean that Pi Network has partnered with Apple or PayPal, and neither does BNP Paribas.

This fact may help explain why Pi Network price is moving sideways today, as momentum slows after brief signs of recovery earlier this week.

The RSI has dipped slightly below 50 again, indicating neutral sentiment, while the 30-period moving average continues to dip below the 200-period level – a typical structure of consolidation ahead of a potential move.

Despite the buzz surrounding Pi’s banking ambitions, the lack of confirmation from major institutions has kept the coin’s price modest until now.

However, if there are new developments or if it gains real traction, Pi could break out of its current range and head towards $1 by the end of this summer.

And if momentum picks up thanks to real adoption, the $10 target could quickly get back on track.