- Binance-linked Stellar wallet activity hints at PI integration, fueling speculation ahead of Pi Network’s May 14 ecosystem update.
- PI price gained by 10.03% in 24h, hitting $0.6351, with trading volume surging 140.27% to $111.63M amid social media buzz.
- Despite short term correction, analysts forecast PI could hit $1.97 in a month, driven by ecosystem growth and exchange support.
Speculation over a potential Binance listing has led to renewed interest in Pi Network (PI), driving its price up by over 10%. The token surged to $0.6351 in the past 24 hours, fueled by social media discussions and increased blockchain activity.
The interest has intensified after reports surfaced that a Stellar wallet linked to Binance started interacting with the Pi Chain. This comes days before Pi Network’s scheduled ecosystem update on May 14, raising questions about whether Binance plans to finally list the altcoin.
While no official statement has been issued by Binance or the Pi Core Team, multiple indicators suggest growing activity around the token, prompting close scrutiny from investors and market analysts.
Blockchain Traces Point to a Binance-Linked Wallet
The Stellar wallet in question is identified as GAB…..ZJNL6. This address, previously associated with Binance, recently recorded a balance of 2 PI tokens. Piscan.io and StellarExpert confirmed the activity.
According to a statement from user Moon Jeff, this wallet shares a structure with Binance’s Stellar deposit wallet which has begun testing transactions on the Pi Chain. This overlap has led many to believe that Binance is preparing for integration or listing. Further supporting the rumors, the same wallet has been involved in transaction testing, with over 294,000 PI transactions recorded on Stellar in a few days.
While the wallet movement alone doesn’t confirm an official listing, it shows increasing interaction with the Pi ecosystem. The activity aligns with earlier community interest, especially after Binance held a user vote for PI listing during the token’s February launch.
Price Movement Aligns with Market Speculation
Following the resurgence in discussion, Pi’s market metrics show noticeable changes. The token increased by 10.03% in 24 hours and gained 2.26% in the past week. Over the month, it climbed 5.68%, despite recent volatility.
Market cap increased by 7.80% to reach $4.39 billion. Trading volume had a sharp rise of 140.27%, hitting $111.63 million, suggesting increased market interest. Technical indicators show mixed signals.
Bollinger Bands show price movement between $0.5566 and $0.6483. The SMA is at $0.5894. A brief breakout above the upper band was followed by a pullback, suggesting profit taking. The Accumulation/Distribution value is at -242.04M, indicating selling pressure despite the rally. The most recent red candle confirms a short term correction after the spike.
Analysts Predict Long Term Targets Above $1
CoinCodex analysts maintain a bullish outlook, projecting short term and long term price gains. Their 5 day forecast places PI at $0.79, while the one month target is at $1.97. The three month and six month predictions are at $2.08 and $1.69, respectively.
A one-year forecast estimates PI at $1.60, showing optimism over ecosystem development and possible exchange support. Meanwhile, Pi Network plans to launch new applications within its ecosystem after the May 14 update.
According to the Core Team, several third party apps are under review. This follows the launch of the open mainnet earlier this year. Until an official announcement is made, speculation surrounding Binance’s involvement continues to dominate the conversation.
