PI (Pi) fell 1.44% in the last 24 hours.

Gate News Bot news, on July 8, according to CoinMarketCap data, as of the time of writing, PI (Pi) is currently priced at $0.46, down 1.44% in the last 24 hours, with a high of $0.51 and a low of $0.45. The current market capitalization is approximately $3.485 billion, a decrease of $50.8016 million compared to yesterday.

Pi is a digital currency that can be mined on mobile phones through a mobile application without draining the battery. The project aims to make cryptocurrency mining simple, allowing more people to participate in the cryptocurrency revolution. Pi utilizes groundbreaking technology to achieve decentralization, mobile-first, user-friendly, and environmentally friendly characteristics. It is a secure, immutable, forgery-proof, and interoperable digital currency.

Important news about PI recently:

1️⃣ Pi Network launches no-code application building platform Pi Network launched the Pi App Studio during the annual Pi2Day event, which is an AI-driven no-code application builder. This tool aims to simplify the development process, allowing more users to create applications within the Pi ecosystem. This initiative is expected to promote the expansion and diversification of the Pi ecosystem.

2️⃣ The staking feature of the ecosystem directory has sparked controversy Pi Network has simultaneously launched the ecosystem directory staking feature, allowing users to enhance the ranking of applications within the ecosystem by staking Pi tokens. However, this mechanism does not provide staking rewards, leading to dissatisfaction and skepticism among community members. This could affect user participation and have a negative impact on Pi's short-term price performance.

3️⃣ Large-scale token unlocks pressure prices Starting from July 4, Pi Network will release a total of 304.7 million Pi tokens over a period of 30 days, with an estimated market capitalization of approximately 151.9 million USD. The maximum unlocking amount in a single day is 19.39 million tokens, occurring on July 4. This large-scale unlocking may increase market supply, putting continuous downward pressure on the PI price.

From a technical perspective, the PI price is currently in a downward trend, with the MACD indicator showing bearish signals. If it cannot break through the resistance level of $0.55, it may continue to face pressure in the short term. However, market attention remains high, and if there are positive developments in the ecosystem, a rebound cannot be ruled out.

This message does not constitute investment advice, and investors should be aware of market volatility risks.