PI (Pi) fell 1.35% in the last 24 hours.

Gate News Bot news, on October 17, according to CoinMarketCap data, as of the time of writing, PI (Pi) is currently priced at $0.21, down 1.35% in the last 24 hours, with a high of $0.24 and a low of $0.16. The current market capitalization is approximately $1.713 billion, a decrease of $23.4499 million compared to yesterday.

Pi is a digital currency that can be mined through mobile phones. Its groundbreaking technology allows users to mine on their phones without draining the battery. The goal of the Pi network is to create a decentralized, secure, tamper-proof, and interoperable digital currency system while maintaining user- and earth-friendly characteristics. Pi adopts a mobile-first approach, is easy to use, and remains secure at scale, avoiding significant energy waste.

Important news about PI recently:

1️⃣ Testnet DeFi functionality expands ecosystem

Pi Network has launched new features on its test network, including a decentralized exchange (DEX), an automated market maker (AMM) liquidity pool, and a token creation tool. Users can use Test-Pi for token swapping, 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 it 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 cryptocurrency market.

3️⃣ Market sentiment fluctuations affect short-term performance

The cryptocurrency market has been quite volatile recently, and as an emerging project, PI may be more susceptible to market sentiment. A 1.35% 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 certain support around $0.21. 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 to be considered as investment advice; investors should be aware of market volatility risks.