Pi Network Sees Major Backing From Kraken: Pi Coin Price Rally Imminent?

Kraken has rolled out perpetual futures contracts for Pi Network’s native token, Pi, marking the token’s first entry into a major derivatives market.

Traders can now go long or short Pi Coin with up to 20× leverage on Kraken Pro, using any of 40+ collateral options across 360+ markets.

Pi Network Futures Debut on Kraken

On May 23, Kraken announced via its Pro channel on X that Pi perpetual futures are live with up to 20× leverage. This listing makes Pi Network the only major altcoin without a Binance or Coinbase spot listing to appear on a tier-one derivatives platform.

Traders can now open perpetual positions—contracts without expiry—that track Pi Coin price, settling P&L continuously as prices move.

Kraken’s offering supports over 40 collateral types. It operates across more than 360 markets, giving users the flexibility to hedge or speculate on Pi without holding the token directly.

Per the Kraken Pro announcement, the move aims to attract both bulls and bears who want margin exposure to Pi’s price swings.

The new futures will add liquidity to the Pi Network’s native coin. In other words, perpetual contracts allow traders to express both bullish and bearish views. Long positions benefit from rises above the entry price; shorts gain when the Pi Coin price falls.

Leverage can amplify both gains and losses. A 1% move in Pi’s price at 20× leverage creates a 20% change in margin account equity. That heightens the risk of forced liquidations and sudden price swings.

More trading activity could stabilize Pi Coin’s price over time. Yet in the short term, added leverage often magnifies volatility, especially in a token where 60% of the supply remains under core team control.

Pi Network Risks and Structural Concerns

Despite Kraken’s support, Pi Network faces underlying skepticism. Node concentration in Vietnam and upcoming crypto rules there have raised doubts about network decentralization and stability.

The community has raised ongoing concerns about transparency. As noted by Dr Altcoin (@Dr_Picoin), the Pi Core Team has routinely dismissed these demands and may only enact superficial changes to appear responsive.

“I fully expect the PCT to make some calculated move in the coming days or weeks—just enough to create the illusion that they are heading in the right direction,” he wrote on X, expressing his concerns.

Heavy token unlock schedules also threaten to increase sell pressure, as large holders gain access to more coins on a fixed timeline.

Regulatory clarity remains incomplete. Pi Network is not yet listed on top-tier spot exchanges like Binance or Coinbase, signaling caution among major trading venues. Without broad spot listings, Pi’s liquidity depends heavily on derivatives and smaller exchanges.

Kraken’s listing puts Pi Coin in the spotlight. Traders now have tools to hedge or amplify views on Pi without owning the token. That access may draw fresh capital, especially from margin players.

Pi Coin Price Outlook

Following the announcement, Pi Coin price traded at $0.77, down 1% in 24 hours, per CoinMarketCap data. Earlier this month, Pi spiked to $1.57 before dropping 10% in the week leading up to the futures launch.

On May 12, Pi Coin price peaked at $1.67, then plunged to $0.66, erasing much of the bullish advance triggered by Binance listing rumors.

In late February, Pi Network’s daily volume topped $3.5 billion as the token launched on Gate.io. By mid-May, volumes fell below $40 million, a drop exceeding 98% in three months, according to CoinMarketCap data.