Pi Network’s PI token shows the second-highest bullish market sentiment on March 2nd. This follows a 10% price increase in February and comes after the project celebrated the first anniversary of its Open Network launch, announcing key technical updates. The community’s attention is now turning to Pi Day on March 14, historically a date for major project announcements.
The Pi Network token, PI, ranks second for bullish market sentiment today, trailing only Kaspa according to data from CoinMarketCap. This follows a month where PI closed February with a 10% gain, trading around $0.17.
Last month, the project’s team marked the first anniversary of its Open Network launch from February 2025. They announced the completion of protocol v19.6, with v19.9 as the final step before the anticipated v20 upgrade, and urged node operators to migrate promptly.
The team also introduced a long-awaited Ecosystem Token Design framework to tie new tokens to real utility. Co-founders Chengdiao Fan and Nicolas Kokkalis also addressed community questions on KYC and AI initiatives.
Market observers have expressed confusion over the strong sentiment, with one X user questioning how it applied to what they called a “useless crypto.” However, upcoming token unlocks present a potential headwind, with nearly 21 million PI scheduled for release on March 7.
Data also shows the amount of PI held on centralized exchanges has risen to nearly 435 million tokens, which could increase selling pressure. The community now looks to March 14, known as Pi Day, which an X account claimed has historically been “a powerful moment to showcase major progress.
