PI (Pi) down 4.67% in the past 24 hours

Gate News Bot Message, January 29th, according to CoinMarketCap data, as of press time, PI (Pi) is currently priced at $0.17, down 4.67% in the past 24 hours, with a high of $0.19 and a low of $0.17. The current market capitalization is approximately $1.39 billion.

Pi Network is the first digital currency that can be mined on a mobile phone, achieved through breakthrough technology that allows mobile mining without draining the battery. Users can download the Pi app for free and start mining with an invitation code. Pi is a decentralized, secure, and tamper-proof digital currency with features such as mobile-first, user-friendly, and environmentally friendly, aiming to involve more people in the cryptocurrency ecosystem.

Recent Important News about PI:

1️⃣ Ecosystem Application System Expanding in Multiple Areas, Payment Scenario Usability Accelerating

Over the past week, Pi Network has launched several practical applications, further promoting the shift from concept to real-world application within the ecosystem. The TokPi short video social app has officially gone live, supporting users to send digital gifts using Pi for content incentives, available in 10 languages; Fixora local service marketplace has also launched, supporting users to pay for household cleaning, repairs, and other daily services with Pi Coin. The launch of these applications marks Pi’s evolution from a simple mining asset to a daily usable payment tool, providing concrete pathways for real circulation scenarios.

2️⃣ Developer Toolset Enhancement and Creative Incentives Running in Parallel, Ecosystem Participation Continues to Rise

Pi Network released a new SDK and API toolkit, enabling developers to integrate Pi payment functions in as little as 10 minutes without complex blockchain development experience. The tools support multiple front-end technologies such as JavaScript, React, and back-end frameworks like Next.js and Ruby on Rails. Additionally, a new “Add Pi SDK” feature allows developers to connect existing or new applications directly to Pi’s core system, including Pi payments, Pi wallet login, and mainnet conversion. Simultaneously, a creator incentive campaign offers the first 1,000 participants who complete surveys 5 Pi points dedicated to App Studio. This dual approach significantly lowers integration barriers and offers creative rewards, further attracting developers and content creators to participate in ecosystem building.

3️⃣ On-Chain Payment Infrastructure Improving, Mainnet Stablecoin Integration Nears Completion

Pi Network has officially opened support for USDT testnet wallets, allowing early participants to familiarize themselves with on-chain payments and DeFi operations in a risk-free environment. The test version of USDT circulation has approached 59,000 tokens, with users able to view balances, transaction history, and transaction paths in the wallet. Through real-world scenario simulations and accumulated operational data, the network optimizes protocols and user experience, helping to reduce technical friction when the mainnet officially launches. This practice-oriented approach, based on real usability, lays a solid technical and user foundation for Pi Network’s subsequent integration of stablecoin trading on the mainnet.

4️⃣ Deepening European Compliance Layout, Institutionalized Operational Framework Improving

Pi Network has completed registration of its white paper with the European Securities and Markets Authority (ESMA) (Registration No. 549), marking proactive adaptation to the EU MiCA regulatory framework. Valour Pi ETP has been listed on a regulated market in Sweden, providing a legal basis for Pi’s compliant operation within Europe. Meanwhile, Pi Network is advancing AI-driven KYC upgrades, with a new verification system that more efficiently reviews user identities, accelerating user migration to the mainnet. These series of compliance and technical upgrades create necessary conditions for Pi’s institutional development and participation of institutional investors, helping to expand its European market coverage and strengthen market confidence.

5️⃣ Structural Supply Pressure Continues, Market Liquidity and Demand Absorption Capacity Insufficient

Over 4.6 million Pi enter circulation daily, with about 55.8 million Pi awaiting unlock before the end of the month, and approximately 419 million Pi in a state ready to enter the market at any time. The 24-hour trading volume is about $13.1 million, with relatively limited market liquidity, making it difficult to form effective support amid intense unlock pressure and supply expansion. Although recent app launches and feature upgrades have made substantive progress in ecosystem development, this mechanical supply growth keeps potential buyers on the sidelines. Short-term rebounds are unlikely to sustain, constituting the main driver of recent price declines. Only when unlock speeds slow down, circulating supply significantly decreases, and on-chain demand can truly absorb the new tokens, will Pi Network’s price have the chance to rebuild a more stable bottom support.

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