PI (Pi) down 1.30% in the past 24 hours

Gate News Bot Message, December 30th, according to CoinMarketCap data, as of press time, PI (Pi) is currently priced at $0.20, down 1.30% in the past 24 hours, with a high of $0.21 and a low of $0.20. The current market cap is approximately $1.693 billion.

Pi is the first digital currency that can be mined on a mobile phone, utilizing groundbreaking technology that allows mining without draining battery life. Pi Network features decentralization, mobile-first design, and eco-friendliness, providing a secure, tamper-proof, and interoperable digital currency aimed at enabling more users to easily participate in the cryptocurrency ecosystem. Users can start mining by downloading the Pi app and obtaining an invitation code from existing trusted members.

Important recent news about PI:

1️⃣ Testnet DEX Structure Upgrade Enhances Liquidity Concentration Pi Network has made structural adjustments to the testnet decentralized exchange, migrating from multi-token liquidity pools to Pi-denominated liquidity trading pairs. The core goal of this upgrade is to concentrate on-chain liquidity within Pi itself, reducing liquidity dispersion caused by different token pairs, thereby improving overall trading efficiency and stability. Under the new structure, most exchange activities are completed using Pi as the base asset, eliminating the need for multi-hop conversions through intermediate tokens. This design aligns more closely with mainstream asset-pegged models common in mature DeFi markets, helping to form deeper liquidity pools and effectively reduce trading slippage.

2️⃣ Large Token Unlocks in December Create Ongoing Supply Pressure In December, approximately 54.7 million PI tokens entered circulation, with a market value exceeding $11 million. Notably, about 8.7 million tokens were unlocked on December 25 alone, worth approximately $1.76 million at current prices. The significant increase in supply weakens token scarcity, exerting continuous downward pressure on price due to insufficient buy-side support. Although no obvious price disturbances occurred after the testnet unlocks, reflecting the project’s focus on infrastructure efficiency rather than short-term scale expansion, the cumulative unlock volume still poses medium-term price pressure.

3️⃣ Mainnet Launch Preparation Accelerates, Signaling Long-term Development Pi Network has initiated domain claiming and distribution processes, allowing ecosystem application developers and institutions to pre-claim dedicated digital domains, with an upgraded domain management interface. Additionally, system upgrades have unlocked over 1.2 million previously restricted users, and about 250,000 users have resubmitted KYC applications. The first Open Network Hackathon received 215 mainnet application submissions, covering areas such as privacy social, merchant loyalty, gaming, and entertainment. These infrastructure upgrades and application ecosystem developments provide substantial support as Pi Network approaches its next growth phase.

4️⃣ Practical Ecosystem Applications Continue to Advance During the holiday period, Pi Network promoted large-scale merchant participation, with over 220 global merchants involved in festive trading scenarios and more than 125,000 merchants participating in holiday commercial plans. Over 215 mainnet applications remain active within the ecosystem, covering business, services, and community interaction scenarios. The expansion of these applications and real-world use cases underpin the project’s fundamentals, although short-term token unlocks still pose challenges to price stability.

This message is not investment advice; investors should be aware of market volatility risks.