PI Crypto Rides Bullish Momentum for a 38% Weekly Gain

The listing announcement generated excitement because Kraken is one of the top crypto exchanges in the world. Moreover, it has been around since 2011, and its HQ is based in the US (Wyoming).

Kraken is currently in the top 20 crypto exchanges by trading volume. This listing, therefore, means Pi crypto will be accessible in one of the biggest markets in the world.

Although Pi Crypto has so far rallied by over 60% since the start of March, analysts anticipate a retracement. Thats because coins historically rally before major events and then retreat afterwards. A phenomenon commonly known as “buy-the-rumor-sell-the-news.”

If the phenomenon plays out, Pi crypto would likely experience a sizable retracement after the Kraken launch. This is because of the profit-taking by holders who took advantage of the listing news by buying at recent lows.

What Does the Future Look Like for Pi Crypto？

Pi crypto and Pi networks journey into the mainstream was not exactly smooth. In fact, the network took about 5 years from launch to secure a listing on CoinMarketCap, let alone exchange listings.

Before that, the network had a hard time beating scam allegations and securing mainstream trust. It has so far secured listing on some smaller exchanges, but listing on major exchanges has remained largely elusive.

The fact that Pi coin is now listed on Kraken is, therefore, an underrated milestone. One that could potentially pave the way for listing on other major exchanges.

The lack of listing on major exchanges previously limited Pi coins access to liquidity. This is why the Kraken listing means so much to the Pi network. It could unlock healthier liquidity inflows and set the pace for more value inflow in the long term.

Liquidity inflows are also expected to set the pace for broader network adoption into the mainstream. This could further unlock more value in the long run. Pi crypto remains heavily discounted from its historic highs. Its recent developments and undervalued nature may boost its appeal among crypto investors.