PI (Pi) decreased by 2.34% in the last 24 hours

Gate News Bot Message, February 02, according to CoinMarketCap data, as of press time, PI (Pi) is trading at $0.16, down 2.34% in the past 24 hours, with a high of $0.18 and a low of $0.15. The current market capitalization is approximately $1.36 billion.

Pi is the first digital currency that can be mined on mobile phones, achieving an innovative solution to mine without draining battery life through breakthrough technology. The project adopts a decentralized architecture, providing secure, tamper-proof, and counterfeit-resistant digital assets, while also supporting interoperability. Pi Network emphasizes a mobile-first design philosophy, is easy to use, and does not require large-scale electricity consumption in mass applications, making it a user- and environmentally-friendly cryptocurrency project. Users can mine via a free mobile app, simply by being invited by existing trusted network members.

Important recent news about PI:

1️⃣ Structural supply pressure continues to weigh on the market, with limited liquidity absorption capacity

Over 4.6 million Pi enter circulation daily, and the relatively limited liquidity trading volume of about $13.1 million makes it difficult to effectively absorb the new supply. Approximately 419 million Pi are in a state ready to flow into the market at any time. This mechanical supply growth keeps potential buyers on the sidelines. Despite substantial progress in ecosystem development recently, the intense unlocking pressure remains the main downward driver for prices. Only when the unlocking speed slows and on-chain demand can genuinely absorb the new tokens will the Pi Network price have the chance to build a more solid bottom support.

2️⃣ Ecosystem applications and payment infrastructure accelerate, practical scenarios are further validated

In the past week, Pi Network has launched several important applications and upgrades. The TokPi short video social app is now officially live, supporting users to send digital gifts directly using Pi, available in 10 languages; Fixora local service marketplace has also launched, supporting payments for household cleaning, repairs, and other daily services with Pi Coin. The testnet USDT wallet is now open, with circulation approaching 59,000 USDT, allowing users to familiarize themselves with stablecoin operations risk-free. The launch of these applications and tools marks Pi’s evolution from a simple mining asset to a digital economy tool with real payment functions, creating a practical foundation for on-chain ecosystem usability and maturity.

3️⃣ Developer ecosystem entry barriers significantly lowered, ecosystem expansion momentum continues to strengthen

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 and React, as well as back-end frameworks like Next.js and Ruby on Rails. 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. In parallel, a creator incentive campaign offers 5 Pi points for the first 1,000 participants who complete surveys, specifically for App Studio. This dual approach—reducing integration barriers and providing creative rewards—further attracts developers and content creators to participate in ecosystem building, helping to expand payment scenarios.

4️⃣ European compliance layout deepens, institutional development path becomes more complete

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 legitimate operation within Europe. Meanwhile, Pi Network is advancing AI-driven KYC upgrades, with a new verification system that more efficiently reviews user identities, accelerating migration to the mainnet. These series of compliance and technical upgrades create necessary conditions for Pi’s institutional development and participation by institutional investors, helping to expand its European market coverage and boost market confidence.

5️⃣ Price faces key technical support levels, short-term rebound potential is limited

Pi Coin is currently hovering around $0.166, a level that coincides with the 23.6% Fibonacci retracement, regarded as a critical support zone in a bear market. If this support is broken, the price could further decline toward the historical low of $0.150. Recent withdrawal pace has accelerated among holders, with the Chaikin Money Flow indicator falling below zero and reaching a six-week low, reflecting significant outflows exceeding inflows. The weighted volume-based selling pressure limits the rebound potential. If sentiment recovers and new buying interest emerges, the price could rebound to around $0.176–$0.180, but only if trading volume also increases accordingly.

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