Pi Network Futures Live on Kraken Pro: Will the Price Hit $1?

On May 23, 2025, Pi Network entered a new chapter. Kraken Pro launched perpetual futures trading for PI, the project’s native token. This wasn’t just another listing. It came with up to 20x leverage and support for over 40 collateral options.

For a community-led crypto that began with phone mining, this is a big leap. Despite this major move, PI's price still hasn’t found solid ground.

A Spike, a Fall, and Now the Waiting

Earlier this month, PI briefly surged. It touched $1.60, sparking excitement across Telegram groups and crypto X feeds. Some traders called it the breakout they were waiting for, but that rally didn’t last.

Today, PI is hovering around $0.76. For many holders, that’s frustrating. The launch on Kraken was supposed to be a big moment. Instead, the market reacted with hesitation. Why?

The PI Token: Complex from Day One

PI has always been a mystery to outsiders. It didn’t launch through a typical token sale. There was no big ICO, no public trading for years.

Instead, users mined PI on their phones, no electricity-hungry rigs, but just daily check-ins on an app. It felt like a mobile game, not a financial asset.

That approach helped Pi build a massive community worth tens of millions of users, but it also raised questions.

What’s the real supply? Who controls how many coins hit the market? Can users actually spend or sell their PI? These questions still don’t have simple answers, and that’s part of the reason investors are cautious.

Regulatory Fog

Like many projects in crypto, Pi Network has tried to avoid trouble with regulators. It didn’t launch a token on exchanges immediately. It didn’t promise returns. It avoided terms like “investment” and “profit” in official communications.

Some say it was smart while others call it vague. This regulatory fog is now affecting market confidence. Traders don’t know how regulators will treat PI if trading volumes grow. Exchanges like Kraken are moving forward. But many other platforms are still waiting.

The Futures Factor

The Kraken Pro futures launch is important for one big reason: it adds liquidity and volatility. Perpetual futures let traders bet on price movement without owning the asset. They can go long or short on the market. With 20x leverage, the potential gains or losses can be huge.

But that also makes PI more sensitive to hype and fear. If enough traders short PI aggressively, the price could tank. If enough go long, a quick squeeze could push it higher.

That’s why everyone’s watching the next resistance levels closely.

The Chart Says… Maybe

Technical analysts are optimistic. PI recently broke out of a falling wedge pattern. That pattern often signals a reversal after a steep drop. Before the breakout, PI had fallen 50% from its local high, and now it’s climbing again, but slowly.

The next key level is $0.84. If PI can push past that and hold it, traders believe it could run toward $0.96, then $1.20, and maybe even $1.57.

Some bold predictions go further. A few analysts believe PI could hit $5 in the next major cycle. That would give it a market cap of over $30 billion. For context, that’s close to where Solana sits today.

Sounds crazy? Maybe. But in crypto, low liquidity and a strong community can create wild price swings.

The Liquidity Trap

Let’s talk about liquidity. PI doesn’t trade on many centralized exchanges yet. Even though Kraken Pro added futures, the spot market is still thin.

That means big buys or sells move the price fast. It also means whales, which are large holders, have an outsized influence. Right now, Pi’s team controls a large portion of the supply. That’s both a strength and a risk.

If they choose to hold and release coins slowly, the price could be supported. But if coins flood the market, price could collapse. This control makes PI feel more like a startup equity than a fully decentralized coin.

Roadmap Milestones Ahead

The future of PI hinges on what the Pi Network team does next.

Their roadmap shows dozens of upcoming milestones. Some of the most important ones include:

• Mainnet coin migration: More users will be allowed to move their mined PI to the live blockchain.
   
• Fireside token conversion: A community-based reward system called Fireside will soon convert to real PI tokens.
   
• Developer incentives: Apps built on the Pi Network could start getting funded and promoted.
   
• Marketplace expansion: More goods and services may become purchasable with PI.

These updates could drive demand. But they could also increase supply. It all depends on how the team handles distribution.

Can It Really Hit $1 Again?

Yes, but not easily. PI has already touched $1.60 once. That shows the market can get there. But to stay above $1, the project needs more than momentum.

It needs:

• Clearer regulation
   
• Wider exchange support
   
• More liquidity
   
• Real utility for the coin
   
• Community confidence

Right now, the biggest driver is still speculation. That’s not enough to hold a price level long term.

What the Community Thinks

The Pi Network community is split. Some are die-hard believers. They’ve been mining since 2019, they think PI will be the next big crypto, and they see it as the currency for a digital economy run by everyday people.

Others are skeptical. They worry about delays, vague timelines, and too much central control.

The Kraken Pro futures listing added fuel to both sides. To bulls, it’s proof that PI is going mainstream. To bears, it’s a chance for whales to manipulate price and dump on retail traders.

Final Thoughts

PI Network just took a huge step with its Kraken Pro futures listing. It’s now part of the same conversation as Solana, Dogecoin, and other top projects that started as underdogs.

It’s not out of the woods yet. The price is volatile, the path to $1 is full of resistance, regulation remains murky, and the project’s future depends on execution.

Still, the potential is there. With a global community, a fresh technical breakout, and more roadmap milestones ahead, PI is one to watch.

Can it hit $1 again? Absolutely. But only time and Pi’s team will tell if it can stay there.