The Pi Network has restarted trading on the BitMart exchange, a development that offers a positive outlook for the price of Pi coin.
This occurs as the altcoin aims to regain the $1 price point, amidst a currently optimistic sentiment in the wider cryptocurrency market.
Pi Network Restarts Trading on BitMart
In a recent post on X, cryptocurrency expert Dr. Altcoin disclosed that the Pi Network has resumed trading on the BitMart crypto exchange, following a month-long suspension due to pending KYB approval.
He indicated that this progress may signal the imminent release of official KYB approval for BitMart.
This news is certainly positive for the Pi coin, particularly as the altcoin aims to regain the significant $1 price threshold.
The network's team has also been actively working to stabilize the Pi price. Dr. Altcoin further noted that the Pi Network team has been purchasing coins from various crypto exchanges to alleviate selling pressure on the token, reportedly acquiring over 48 million coins through a sub-wallet.
Additionally, the team has made strides within the ecosystem to enhance the token's utility, having recently approved the decentralized application FruityPi, with the possibility of approving more dApps in the near future.
In light of these developments, analysts such as Moon Jeff have forecasted that the price of Pi coin could surge to as high as $5, establishing a new all-time high.
HTX Once More Suggests the Possibility of Listing Pi
Dr. Altcoin highlighted the recent post on X by crypto exchange HTX, which once again suggested a possible listing for Pi Network.
He pointed out that among thousands of cryptocurrencies, HTX specifically featured the Pi logo in its communication, indicating an extraordinary affection for the altcoin.
This marks the third occasion on which HTX has alluded to a potential listing of Pi coin.
In the midst of these encouraging developments, Dr. Altcoin noted that Banxa appears to have halted Pi transactions, likely due to awaiting KYB approval.
He reminded the community that Banxa has previously acquired millions of Pi at a low price and is expected to return with greater strength once KYB is approved and the price of Pi coin increases.