Pi Coin Price Prediction: With KYC verification accelerating and expectations of ISO 20022 integration, it may challenge $0.6.

Pi Coin (PI) has risen over 15% in a single day, continuing the strong bull run momentum. This rebound is mainly driven by the development of the ecosystem, especially with an additional 3.36 million users completing KYC verification, and the network preparing for ISO 20022 integration. Derivation market data shows that open interest has surged and the funding rate has turned positive, indicating that long positions are dominant, with overwhelming bullish market sentiment, suggesting that the PI price is expected to surge towards $0.6.

Breakthrough Advances in the Ecosystem Drive Price Rise

The Pi Network team recently announced a series of key ecosystem developments, bringing strong bullish signals for Pi Coin.

• KYC verification accelerated: Pi Network announced that it has completed KYC verification for an additional 3.36 million pioneer users, along with the newly integrated AI-driven system successfully verifying 4.76 million temporary KYC applications, bringing the total number of migrated users to 2.69 million.
• Compliance Improvement: These advancements are part of Pi Network's efforts to adhere to international standards in preparation for the upcoming ISO 20022 integration. ISO 20022 is a global financial data exchange protocol, and integrating this standard will align the Pi ecosystem with global financial data exchange protocols, greatly enhancing its future usability and compliance.

However, Fen Leng, a core contributor of Pi Network, clarified on the X platform that rumors about the network migration being fully completed are inaccurate, $Pi Testnet2 is still on version v19 and has not yet successfully upgraded to v23.

Derivation Market Frenzy: Long Positions Dominate Price Momentum

Positive ecosystem news has sparked overwhelming bullish sentiment among investors for Pi Coin.

• Community Optimism: Data from CoinMarketCap shows that among the 4.4 million investors tracking Pi Coin, 92% have cast bullish votes, indicating a significant increase in accumulation activity.
• Derivation data: This optimistic sentiment is also reflected in the derivation market. According to Coinalyze data, the asset's funding rate has turned positive (0.0055%), while the open interest has surged to approximately $33 million in the past 24 hours.
• Long dominance: An increase in open interest and a positive funding rate are classic signals indicating that most PI contracts are dominated by long positions, and price momentum is expected to continue favoring the bulls.

Technical Analysis: Breakthrough Imminent, Targeting $0.6

At the time of publication, Pi Coin is at a critical technical level, pushing towards a resistance zone that usually triggers a price pullback.

• Bullish signal: The Relative Strength Index (RSI) remains in the bullish zone at 65, indicating strong buying pressure.
• Potential target: If Pi Coin successfully breaks through the current resistance level, the price may advance towards $0.5 to $0.6, and could potentially revisit the peak from May.

With the growth of derivation activities and the continuous advancement of the ecosystem, the PI token seems well-prepared, expected to continue its pump trajectory and achieve new highs in the market.

Conclusion

The strong rebound of Pi Coin is the result of the progress in KYC verification and the expectations for ISO 20022 integration, with these fundamental positives effectively translating into market price momentum. The dominance of long positions in the derivation market indicates a very high probability of price rise in the short term. For investors, this is a breakthrough point that requires close attention, but it is essential to combine the technical resistance breakout with the actual progress of network migration to formulate a prudent investment strategy.

Disclaimer: This article is for informational purposes only and does not constitute any investment advice. The cryptocurrency market is highly volatile, and investors should make decisions with caution.