Gate News Bot Message, February 10th, according to CoinMarketCap data, as of press time, PI (Pi) is trading at $0.14, down 4.56% in the past 24 hours, with a high of $0.16 and a low of $0.13. The 24-hour trading volume is $13.2 million. The current market cap is approximately $1.239 billion.
Pi is the first digital currency that can be mined on mobile phones, utilizing breakthrough technology to enable mining on mobile devices without draining the battery. Pi Network aims to make cryptocurrency mining simple and accessible, providing a decentralized, secure, tamper-proof, and interoperable digital currency. The project adopts a mobile-first design that is user- and environmentally friendly, requiring no large-scale electricity consumption. Users can start mining through a free mobile app and join the network simply by receiving an invitation from existing trusted members.
Recent Important News about PI:
1️⃣ Mainnet Migration Progresses but Market Confidence Remains Limited
Pi Network is advancing the mainnet migration, lifting restrictions on millions of tokens, and implementing KYC and security upgrades. These infrastructure improvements were expected to support project development, but market reactions to these updates have been underwhelming, and the price has not rebounded effectively.
2️⃣ Long-term User Dissatisfaction Builds
Since the project’s launch seven years ago, early participants have expressed dissatisfaction with the progress and fulfillment of promises. The prolonged waiting period has damaged community confidence, and users’ negative sentiment towards the core team’s management of expectations may exert ongoing pressure on market sentiment.
3️⃣ Price Continues to Decline to New Lows
Despite frequent network updates from the project team, PI’s price remains weak and has even hit new lows. This indicates limited market recognition of Pi Network’s fundamentals, and investor valuation expectations are trending downward.
This message is not investment advice. Please be aware of market volatility risks when investing.
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