PI (Pi) fell 3.94% in the last 24 hours

Gate News Bot news, July 15, according to CoinMarketCap data, as of the time of writing, PI (Pi) is currently priced at 0.45 USD, down 3.94% in the last 24 hours, with a high of 0.53 USD and a low of 0.45 USD. The current market capitalization is approximately 3.457 billion USD, a decrease of 142 million USD compared to yesterday.

Pi is a digital currency that can be mined on mobile phones. Its breakthrough technology allows users to mine Pi on their phones without draining the battery. The project aims to involve more people in the cryptocurrency revolution, making cryptocurrency mining easy, and providing a decentralized, secure, tamper-proof, and interoperable digital currency.

Important news about Pi recently:

1️⃣ Pi Network launches new version of node software Pi Network officially released Pi Node v0.5.3 version, with major improvements including a more powerful node setup process and optimized blockchain explorer connection. This upgrade aims to lower the technical threshold for node operation, enhance the degree of network decentralization, and improve the efficiency and stability of the connection between nodes and the blockchain explorer.

2️⃣ Large-scale token unlocks put pressure on prices In July, Pi Network will unlock 272 million Pi tokens, with a total value of over 100 million USD based on the current market price. Such a large-scale token unlock may exceed current market demand, putting downward pressure on the price of Pi. Market analysts warn that the price of Pi may retest the April low of 0.40 USD.

3️⃣ There are differences in the community regarding token supply management As more and more Pi tokens enter circulation, some community members are calling for the introduction of a token burn mechanism to alleviate inflationary pressure. However, there is still controversy within the community regarding the need to implement deflationary policies. Pi Network has not provided a clear statement on future token supply management plans, raising concerns among investors about long-term value.

From a technical perspective, Pi currency is currently in a downtrend channel, with the RSI indicator approaching the oversold area, indicating the possibility of a short-term rebound. However, in the absence of substantial positive news, Pi currency still faces significant downside risks.

This message is not intended as investment advice, and investors should be aware of market volatility risks.