The post Can the GENIUS Act Push Pi Network Price to New Highs Beyond $1? appeared first on Coinpedia Fintech News
The GENIUS Act, also known as “Guiding and Establishing National Innovation for US Stablecoins,” is expected to bring big changes to the crypto world. Once passed, this new law will introduce the first official rules for stablecoins in the United States. It will focus on making stablecoins safer, more transparent, and widely accepted in the financial system.
USD1 Stablecoin Set to Benefit from GENIUS Act
Analyst Dr. Altcoin explained how this could benefit USD1, a stablecoin created by World Liberty Financial. USD1 is backed one-to-one with the US dollar and supported by assets like cash and US Treasuries. It has already been listed on major centralized exchanges, including MEXC, where it is paired with Pi, Bitcoin, Ethereum, and other major cryptocurrencies.
The GENIUS Act includes strict requirements. It bans unbacked algorithmic stablecoins, demands one-to-one reserve backing, monthly public reserve updates, and yearly audits. It also limits big tech companies from launching their own stablecoins unless they follow all the rules. Additionally, the bill allows for freezing or burning tokens for national security reasons.
Pi Network Gains Stability with USD1 Pairing
For the Pi Network, this is a great opportunity. The new PI/USD1 trading pair means Pi users now have access to a more stable, regulated, and trustworthy trading environment. This helps with accurate price discovery, better liquidity, and makes Pi more attractive to institutional investors.
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As USD1 gains popularity and gets listed on more exchanges, Pi Network could see increased attention and use. The GENIUS Act is not just about setting rules. It is about building a stable and compliant future for crypto. With strong support and a growing ecosystem, Pi Network and USD1 may be at the center of the next wave of crypto adoption.
Pi Network has dropped 23% over the past month and is now trading at around $0.4399. The price has been moving sideways, staying in the $0.40 to $0.50 range as selling pressure continues to build due to unlocked token supply.
For Pi to see a strong upward move, it needs to break above the $0.80 level. Until then, any small bounce from the current zone is likely to face resistance and lead to more price pressure.
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FAQs
What is the GENIUS Act?
The GENIUS Act (Guiding and Establishing National Innovation for US Stablecoins) is a proposed US law to regulate stablecoins, aiming for safety, transparency, and wider financial system acceptance.
How does the GENIUS Act impact Pi Network?
The PI/USD1 trading pair, enabled by the GENIUS Act, offers Pi Network a stable, regulated, and trustworthy trading environment, improving price discovery and liquidity.
Why is PI’s price down today?
Pi’s price is down due to a rapid increase in circulating supply from token unlocks, weak demand, low market liquidity, and selling pressure from users.