Key Takeaways
What is the primary driver of Pi Coin’s recent price rally?
The rally is driven by significant ecosystem developments, specifically the completion of additional KYC verifications and the upcoming ISO 20022 integration.
What does the activity in the derivatives market suggest?
Rising Open Interest and a positive Funding Rate indicate that long positions dominate, suggesting price momentum could continue to favor the bulls toward $0.6.
Pi Coin [PI] has extended its bullish streak, gaining another 15% in the past 24 hours. The recent rally appears driven by ongoing ecosystem developments that continue to strengthen investor confidence.
In the long term, Pi’s outlook remains positive if it sustains the momentum that has supported its price for over a week.
Ecosystem developments drive growth
The Pi Network team announced the completion of KYC verification for an additional 3.36 million Pioneers.
This progress follows the integration of a new AI-driven system that enabled 4.76 million tentative KYC applications to be fully verified, bringing the total number of migrated users to 2.69 million.
These advancements mark Pi’s effort to comply with international standards as it prepares for ISO 20022 integration—a move that will align its ecosystem with global financial data exchange protocols.
Source: Piexplorer
However, Fen Leng, one of Pi’s core contributors, on X (formerly Twitter), clarified that the network migration process is still ongoing, and that rumors about its full completion are inaccurate.
“$Pi Testnet2 is currently still at v19 and has not yet been successfully upgraded to v23, so don’t believe any rumors.”
Investors rally around PI
Following the latest announcements, investor sentiment toward the asset turned overwhelmingly bullish.
Data from CoinMarketCap showed that 92% of the 4.4 million investors tracking Pi have voted bullish, suggesting increased accumulation activity.
Source: CoinMarketCap
This optimism is also reflected in the derivatives market, where traders are betting on further price gains. According to Coinalyze, the asset’s Funding Rate has turned positive at 0.0055%, while Open Interest surged to approximately $33 million in the past 24 hours.
Rising Open Interest and a positive Funding Rate indicates that most Pi contracts are dominated by long positions, suggesting that price momentum could continue to favor bulls.
Critical point on the chart
At press time, PI sat at a crucial technical level, trending into a resistance zone that typically triggers a price correction. However, sentiment and technical indicators pointed to a potential breakout.
Source: TradingView
The Relative Strength Index (RSI) remained in a bullish region at 65, signaling strong buying pressure. If the asset breaks above this resistance level, it could rally toward $0.5 — $0.6, potentially revisiting its May highs.
With growing derivative activity and continuous ecosystem progress, PI appears well-positioned to extend its upward trajectory and possibly reach new highs in the market.
