On June 11, PayPal announced plans to launch its U.S. dollar-backed stablecoin, PayPal USD (PYUSD), on the Stellar blockchain network, pending regulatory approval from the New York State Department of Financial Services. If approved, the move would mark the expansion of PYUSD beyond its current availability on Ethereum and Solana.

PayPal described Stellar as a blockchain tailored for low-cost, high-speed payments with strong real-world utility. By adding support for Stellar, the company aims to improve the accessibility and usability of PYUSD for payments, cross-border transfers, and financial services. The integration is expected to enhance daily payment options and provide users with expanded access to financing tools such as working capital and small business loans—areas where Stellar is already active.

The press release emphasized Stellar’s existing global infrastructure, including a broad network of on- and off-ramps, local payment systems, and digital wallets, which could help bring PYUSD to users in over 170 countries. PayPal also highlighted potential benefits for liquidity and settlement through PayFi, an emerging digital financing mechanism that would allow businesses to access real-time capital disbursed in PYUSD on Stellar.

May Zabaneh, PayPal’s vice president for digital currencies, said the partnership would help advance the use of blockchain in cross-border payments. Denelle Dixon, CEO of the Stellar Development Foundation, said the collaboration could help bring practical stablecoin use to emerging markets and small businesses globally.

PYUSD is issued by Paxos Trust Company and is fully backed by cash and cash-equivalent reserves, with a fixed redemption value of $1.00 per token.

Earlier this in a short video released by Stellar Foundation, Ian Burrill, a Senior Director at PayPal who manages the crypto engineering team, explained why his firm was excited about the launch of PYUSD on Stellar. Burrill said that Stellar is a fast, low-cost network and it extends PYUSD’s reach to 180 plus countries. He went on to say that enabling merchants to use PYUSD on Stellar lets them send money in real-time, which makes for more efficient capital management.

Technical Analysis

• Stellar’s XLM token recorded significant price appreciation during a 24-hour trading period from July 11 at 17:00 UTC to July 12 at 16:00 UTC, with shares moving within a $0.071 range representing approximately 20.59% volatility between a session low of $0.345 and high of $0.416, according to CoinDesk Research’s technical analysis model.
• The most notable trading activity occurred during early morning hours on July 12 at 01:00, UTC when XLM shares advanced from $0.354 to $0.393 on substantial volume of 551.38 million units, significantly exceeding the 24-hour average of 234.19 million and establishing technical support near the $0.354 price level.
• The upward momentum persisted through July 12 at 11:00 UTC, reaching a session high of $0.416, before encountering resistance in the $0.400-$0.403 range where institutional profit-taking appeared to limit further advances.
• In the final hour of trading from July 12 at 15:47 UTC to 16:46 UTC, XLM demonstrated renewed strength with a 3.89% advance from $0.37 to $0.39, extending the session’s positive momentum.
• The most significant price movement occurred between 16:03-16:08 UTC when shares climbed from $0.374 to $0.385 on elevated volume of 13.16 million and 17.14 million respectively, well above the hourly average of 3.2 million units.
• This activity established technical support around $0.385-$0.387 where shares consolidated through the session’s final 30 minutes, with market participants eyeing potential continuation toward the $0.39-$0.40 resistance levels identified in broader technical analysis.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.

Despite the bounce, Pi remains below the 50-period Exponential Moving Average (EMA), currently at $1.2213. Technical resistance is forming at $1.10, and a breakout above $1.1089 is needed to confirm bullish continuation.

If successful, the next upside targets sit at $1.22 and $1.35. Failure to sustain this momentum could lead the price back toward $0.86—or even lower to $0.64.

PI’s Binance Listing Delays Continue to Cloud Sentiment

Much of the recent volatility can be traced to Binance’s decision not to include Pi in its latest community vote, despite 86% of voters supporting its listing. This omission led to investor disappointment and fresh selling pressure, especially amid already fragile sentiment.

Analysts suggest Binance’s hesitation may be linked to concerns over the network’s maturity and infrastructure readiness. Until these issues are addressed, listing delays may continue to weigh on Pi’s price action.

Volatility Triggers at a Glance:

• Binance listing uncertainty despite strong user support
• Unconfirmed token burn rumors adding confusion
• Hawkish macro conditions tied to Fed policy
• User frustrations tied to migration-related token losses

With price action increasingly driven by sentiment, Pi’s lack of clear milestones adds to its speculative profile.

Pi Coin Price Levels and Outlook: What to Watch Now

From a technical standpoint, Pi must break above $1.1089 and hold above $1.20 to signal a trend reversal. Beyond that, the $1.35 and $1.51 levels present intermediate targets.

On the downside, support is found at $0.8627, with $0.6441 and $0.4414 as deeper levels of risk.

Market performance will likely remain sensitive to macro factors such as the Federal Reserve’s interest rate policy and broader crypto sentiment.

Key Technical Levels

• Resistance: $1.1089, $1.2213 (EMA), $1.3536
• Support: $0.8627, $0.6441, $0.4414

A break above $1.20 with volume confirmation could mark the start of a broader trend shift, but until then, caution remains warranted.

What Caused the Previous Sell-Off in PI?

Before the recent bounce, Pi saw sustained losses. Here’s what drove the downtrend:

1. Macroeconomic Pressure: The Federal Reserve’s rate pause at 4.50% failed to calm markets. Uncertainty around future cuts is weighing on speculative assets, including crypto.
2. Token Supply Concerns: Circulating supply stands at 6.84 billion, with a total cap of 100 billion. Rumors of a token burn were never confirmed, heightening inflation concerns among investors.
3. Exchange Listing Disappointments: A widely expected Binance listing around March 14 did not materialize, leading to a sharp drop as expectations were abruptly reset.
4. Migration-Related Losses: Operational issues, including lost tokens due to grace period lapses, further eroded user trust during Pi’s network transition.

Final Thoughts: Short-Term Optimism, Long-Term Uncertainty

While Pi Coin’s 7.8% jump signals renewed interest, it has yet to break through key resistance levels or resolve its structural issues. Without confirmation of exchange listings, a transparent tokenomics roadmap, and consistent network performance, Pi remains a speculative asset navigating a volatile environment.

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