📢 Gate廣場 #MBG任务挑战# 發帖贏大獎活動火熱開啓!
想要瓜分1,000枚MBG?現在就來參與,展示你的洞察與實操,成爲MBG推廣達人!
💰️ 本期將評選出20位優質發帖用戶,每人可輕鬆獲得50枚MBG!
如何參與:
1️⃣ 調研MBG項目
對MBG的基本面、社區治理、發展目標、代幣經濟模型等方面進行研究,分享你對項目的深度研究。
2️⃣ 參與並分享真實體驗
參與MBG相關活動(包括CandyDrop、Launchpool或現貨交易),並曬出你的參與截圖、收益圖或實用教程。可以是收益展示、簡明易懂的新手攻略、小竅門,也可以是現貨行情點位分析,內容詳實優先。
3️⃣ 鼓勵帶新互動
如果你的帖子吸引到他人參與活動,或者有好友評論“已參與/已交易”,將大幅提升你的獲獎概率!
MBG熱門活動(帖文需附下列活動連結):
Gate第287期Launchpool:MBG — 質押ETH、MBG即可免費瓜分112,500 MBG,每小時領取獎勵!參與攻略見公告:https://www.gate.com/announcements/article/46230
Gate CandyDrop第55期:CandyDrop x MBG — 通過首次交易、交易MBG、邀請好友註冊交易即可分187,500 MBG!參與攻略見公告:https://www.gate.com/announcements
Why Is Pi Network Price Down Despite Migration Milestone
The Pi Network has reached a significant milestone with the successful progression of its migration phase, marked by an impressive surge in activity. However, this major development has been overshadowed by a notable decline in the Pi Coin price. What’s behind this downturn?
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Pi Network Migration Success Fails to Lift Pi Coin Price
The Pi Network’s smooth transition of its migration till today has caught the crypto community’s attention. Despite this crucial update, the Pi Coin price has dipped into the red, fueling traders’ anxiety and concerns. The token again failed to rally, this time despite migration progress, similar to its muted response on Pi2Day.
As revealed by the Pi Network in an X post, the migration phase began on July 1. On the Pi2Day, the network announced that the 6-month Grace Period, which is crucial for preparing the platform for the Open Network, would commence on July 1.
Reportedly, the platform continues to make steady progress toward its full Mainnet integration. Over 16.8 million Pi were migrated on July 8 alone, with a value exceeding $7.9 million. As per the latest report, more than 75 million Pi were migrated since July 1, with an estimated value of over $37 million. This significant migration surge indicates that Pioneers are preparing for full utility, including trading and ecosystem dApp usage.
Moreover, the Pi Network advised Pioneers to update their Pi Wallets, complete their KYC, and stay ready for the next steps. The network emphasized that every update is crucial in this decentralised revolution, and the path to global utility is being built block by block, wallet by wallet.
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Pi Network Price Underperforms Other Altcoins
Currently, the Pi Coin price is experiencing a negative trend despite the platform’s significant developments. It is noteworthy that the token is nearing its all-time low at $0.4, while the global crypto market is showing a major resurgence with Bitcoin hitting a new ATH of $122.2K. At press time, the Pi network is marked at $0.4695, up by a marginal 0.77%. Despite a 2% dip over the past week, the token has seen a major plummet of 19% over the last 30 days.
As CoinGape reported recently, the Pi Coin’s bearish trend is driven mainly by its expanding supply. The network’s mobile mining feature has increased token circulation, putting downward pressure on the token price. Expert Zoe reportedly highlighted that the lack of deflationary mechanisms, such as token burns, further escalates the negative momentum.
Source: PiScan; Pi Coin Token UnlockAnother major factor to which the Pi Coin price dip could be attributed is the massive token unlock in July. As per reports, over 200 million Pi network tokens will be unleashed this month. A whopping 10.1 million tokens are expected to be released on a single day. This influx often leads to increased selling pressure, as large holders liquidate their assets, outweighing buyer demand and driving prices down.
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