Pi Network (PI) News Today: November 24th
PI is among the best-performing top 100 cryptocurrencies over the past week.
The positive performance coincides with recent developments surrounding the controversial project behind the token.
PI Remains in Green Territory
The last seven days have been unpleasant (to say the least) for the broader cryptocurrency market, with Bitcoin (BTC) briefly tumbling to almost $80,000 and Ethereum (ETH) temporarily crashing to approximately $2,600.
While Pi Network’s PI also felt the effect of the pullback, it managed to withstand much of the negative pressure from the overall bearish environment.
As of this writing, the asset trades at around $0.23 (per CoinGecko’s data), representing a 6% increase on a weekly scale. In comparison, BTC has posted a 10% decline within the same period.
The Bullish Catalysts
Perhaps the most evident reason for PI’s surge over the past several days is the growing belief that Pi Network has achieved full compliance with the European Union’s Markets in Crypto-Assets Regulation (MiCA).
Certain X users recently speculated that the asset could expand even further across Europe. The one using the moniker Pi OpenMainnet 2025 claimed that some of the leading countries that will support PI as a global payment include Germany, France, the Netherlands, Spain, Italy, Sweden, and many more.
You may also like:
Another factor that may have also contributed to the coin’s recent rally is the update focused on the AI-powered platform, Pi App Studio. The improvements aim to make the app more useful for technical developers and also for newbies. They can download their own applications, refine the code on local devices, and reupload them for deployment or further changes.
In a subsequent video highlighting the benefits of the new updates, the Core Team provided detailed information on how users can download and upload videos from their respective Pi App Studio accounts. Both options are available in the Settings menu, right under the “Customize App With Pi AI” tab.
Price Drop on the Way?
The upcoming token unlocks, though, suggest that PI may head south soon. Data shows that more than 175 million coins will be released in the next 30 days, which could increase the selling pressure.
In addition, the amount of assets stored on crypto exchanges has surged by approximately 1.6 million in the past 24 hours alone. The total figure has surpassed 432 million, with more than half of that situated on Gate.io.
This development signals that investors have been moving their holdings from self-custody to centralized platforms, often seen as the step before selling.
Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.
About the author
