PI is among the best-performing top 100 cryptocurrencies over the past week.
The positive performance coincides with recent developments surrounding the controversial project behind the token.
PI Remains in Green Territory
The last seven days have been unpleasant (to say the least) for the broader cryptocurrency market, with Bitcoin (BTC) briefly tumbling to almost $80,000 and Ethereum (ETH) temporarily crashing to approximately $2,600.
While Pi Network’s PI also felt the effect of the pullback, it managed to withstand much of the negative pressure from the overall bearish environment.
As of this writing, the asset trades at around $0.23 (per CoinGecko’s data), representing a 6% increase on a weekly scale. In comparison, BTC has posted a 10% decline within the same period.
PI Price, Source: CoinGecko
The Bullish Catalysts
Perhaps the most evident reason for PI’s surge over the past several days is the growing belief that Pi Network has achieved full compliance with the European U
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