.png){kind=logo}
Pi Network has confirmed that it is fully compliant with the European Union's Markets in Crypto-Assets regulation. This has led to a sudden jump in the token’s price. At the time of writing, Pi Network is up by 15%, based on its performance over the last 24 hours.
As a regulatory framework governing the crypto market across the Union, the MiCA framework has become instrumental to Pi Network as an initiative toward the future listing of digital assets on regulated exchanges in the European Economic Area.
The MiCA compliance is a major milestone for Pi Network, showing that the project is finally ready for regulations and reducing uncertainties related to the project's legal standing in the European market. With this development, Pi Network will be well-placed to enter the mainstream crypto exchange space step that many other projects are still working toward.
The increase in Pi Network’s price during this period shows the changed sentiment of the market, especially after its MiCA regulatory filing. This license gives clarity on how Pi Network can operate under a self-custody model, wherein users own their wallets and private keys to secure their assets. It also aligns well with MiCA’s strict guidelines for handling digital assets. The filing also outlines that Pi Network intends to move into exchanges such as OKCoin and OKX, licensed in Malta.
The regulatory developments are supportive, and the price performance of Pi Network also shows promising technical indicators. The cryptocurrency breached major resistance levels, recently surging past $0.25. Indicators of momentum, such as the Chaikin Money Flow and the MACD, indicated sustained buying pressure, while the RSI remained within healthy ranges, signaling further growth potential.
Recent on-chain data highlights significant whale activity in Pi Network. Large holders have been accumulating substantial amounts of PI, with the largest wallet increasing its holdings by nearly 1.6 million coins in the past week. This accumulation may signal confidence in Pi Network's long-term potential and could encourage further market participation in the future.
Beyond the price action, Pi Network is also focused on expanding its ecosystem. The introduction of Pi AI Studio and investments in projects such as OpenMind have underlined the network's commitment to integrating artificial intelligence into its decentralized platform. These strategic moves, put together with the MiCA filing, give more credence to Pi Network and place it as an up-and-coming force within the crypto space.
With Pi Network's continuous regulatory compliance and ecosystem developments, its market outlook stays positive. If this token sustains above key levels and sees further liquidity inflows, it may further grow for the rest of the month. For now, Pi Network may be well-positioned toward a stronger presence in global crypto markets with its focus on MiCA compliance, whale accumulation, and technical bullish signals.
Also Read: EU Eyes Centralized Crypto Oversight While MiCA Approvals and Rules Accelerate
