The mythological octopus ready perpetuals of PI

The second best Exchange in the U.S. ready yesterday derivatives of Pi Network. Traders can go long or short with PI without owning the token directly. Despite the recent smear campaign, Pi Network continues to attract attention in the crypto market, with its native token still at the center of multiple initiatives, market movements, and ambitious projections.

The purple octopus joins the ecosystem

Since it started trading on February 20, PI has been included in level 1 platforms. Most recently, the mythological octopus added support for perpetual futures of the token, with leverage of up to 20x.

Will futures trading impact the price of PI?

The listing introduces more liquidity into the PI market. Increased trading activity could reduce long-term volatility. However, in the short term, leverage can amplify price movements. Market sentiment around PI is already fragile.

PI tokens decrease on exchanges

This week, user MOON JEFF reported that the number of PI tokens stored on exchanges had reached a peak of nearly 400 million. Currently, the figure has dropped to less than 310 million. This change could be interpreted as a bullish signal: users appear to be moving their funds to self-custody methods, reducing immediate selling pressure.

Pi Network (PI) now ranks 26th among cryptocurrencies, with a market price of $0.7647 and a loss of 6.30% in the last 24 hours. The project has a market capitalization of $5.52 billion, a stable growth rate of 5.48%, and a trading volume of $246.91 million in 24 hours.

#pi #VoteForCrypto #Binance