PI (Pi) fell 0.67% in the last 24 hours.

Gate News Bot message, October 23rd, according to CoinMarketCap data, as of the time of writing, PI (Pi) is currently priced at 0.20 USD, down 0.67% in the last 24 hours, with a high of 0.21 USD and a low of 0.19 USD. The current market capitalization is approximately 1.675 billion USD, a decrease of 11.29 million USD from yesterday. It currently ranks 50th in the Crypto Assets market capitalization leaderboard.

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 goal of the PI network is to establish a decentralized, secure, immutable, and interoperable digital currency system. The project emphasizes mobile-first, user-friendly, and environmentally friendly features, aiming to involve more people in the Crypto Assets revolution.

Important news about PI recently:

1️⃣ Testnet DeFi functionality expands ecosystem

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. The introduction of these new features indicates that Pi Network is actively expanding its ecosystem, laying the groundwork for future DeFi applications on the mainnet.

2️⃣ Focus on practical development strategies

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 short-term performance

Recently, the overall volatility in the crypto assets market has been significant, and PI, as an emerging project, is more susceptible to market sentiment. The 0.67% fall within 24 hours reflects a lack of confidence among short-term investors, but the long-term development prospects still require further observation.

From a technical perspective, the PI price has certain 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 remains to be further validated by the market.

This message is not an investment advice, and investors should pay attention to market volatility risks.