Pi Coin Surges, Ranks 18th in Global Crypto Market

Pi Coin, the native crypto of the Pi Network, is finally in the top 20 global cryptocurrencies by market cap. While CoinMarketCap shows Pi Positioning 18th with about 8.26 billion dollars, it strips UNUS SED LEO (LEO) and Toncoin (TON) of 19th and 20th positions, respectively.

The increase follows renewed investor interest: Pi Coin has gained over 100% in the last week alone, and for the whole period of a month, it is up by 56%. Even while it trades on limited exchanges, Pi is currently traded at around $1.18.

Whale Activity Sparks Demand

May 10 saw one of the major impulses behind the spike when a whale investor reportedly bought 20 million Pi Coins from the OKX exchange, valued at some $14 million, and then proceeded to send the coins to private wallets. This large sale in a way reduced the supply on the exchange and hence initiated soaring bullish sentiments throughout the Pi community.

Traders and investors began to draw comparisons of this event with Bitcoin’s infancy days, short of dubbing it ‘Bitcoin 2011 moment.’ Many now believe Pi Coin is possibly a rare early entry in the evolving crypto space.

Mainnet Wallet Upgrade Fuels Adoption

Adding to the momentum was the recent introduction of Pi Network’s Mainnet Wallet Activation feature. The feature update enables fully or provisionally KYC-verified users to activate their wallets. The users can now use the Pi Mainnet through the Pi Wallet app in the Pi Browser.

This aspect is a major leap towards increased usability and onboarding of users. By allowing more authenticated users to engage with the Pi ecosystem, the platform will push long-term adoption and usage.

Conclusion

Pi Coin’s inclusion in the top 20 signals growing investor confidence and interest in the project. Whale activity and new features like wallet activation have been the major drivers of this rapid surge. While there are challenges, most notably related to exchange listings and price stability, Pi Network is starting to establish its place within the broader crypto universe.