PI (Pi) fell 13.88% in the last 24 hours.

Gate News Bot news, on October 11, according to CoinMarketCap data, as of the time of publication, PI (Pi) is currently priced at $0.20, falling 13.88% in the last 24 hours, with a high of $0.27 and a low of $0.16. The current market capitalization is approximately $1.622 billion, a decrease of $262 million from yesterday. PI is currently ranked 48th in the global Crypto Assets market capitalization.

PI is a type of digital currency that can be mined on mobile phones. Its groundbreaking technology allows users to mine PI on their phones without draining the battery. The PI network aims to create a decentralized, secure, immutable, and interoperable digital currency while remaining friendly to users and the planet. PI mining is free and can be started with an invitation from existing trusted network members.

Important news about PI recently:

1️⃣ The testnet launches multiple DeFi features Pi Network has launched new features on the testnet, including a decentralized exchange (DEX), automated market maker (AMM) liquidity pools, and token creation tools. Users can use Test-Pi for token swaps, liquidity mining, and other DeFi operations. This initiative indicates that Pi Network is actively expanding its ecosystem, laying the groundwork for future DeFi applications on the mainnet.

2️⃣ Focus on Practicality First Development Strategy In the development of new features, Pi Network emphasizes that token creation will require real application scenarios to distinguish itself from speculative meme coins. This strategy reflects the project's emphasis on building practical value, which is expected to enhance Pi's long-term competitiveness in the crypto assets market.

3️⃣ Market sentiment fluctuations affect prices Recently, the overall volatility of the Crypto Assets market has been significant, and as an emerging project, PI may be more susceptible to market sentiment. The 13.88% fall within 24 hours reflects a lack of confidence among short-term investors, but the long-term development prospects still need further observation.

From a technical perspective, the PI price has accelerated its fall after breaking through the support level of $0.27, and there is currently some support around $0.20. On the fundamental side, Pi Network continues to promote the construction of its ecosystem, but it is still in the early stages of development, and its long-term value needs further validation from the market.

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