Pi Network submitted an application to the EU MiCA, and Pi Coin rose against the trend with a market capitalization exceeding 2 billion USD.

Gate News Bot news, on November 24, according to CoinMarketCap data, as of the time of writing, PI (Pi) is currently priced at $0.24, with a rise of 1.09% in the last 24 hours, peaking at $0.26 and dipping to a low of $0.22. The current market capitalization is approximately $2.012 billion, an increase of $21.7 million compared to yesterday.

Recent important news about PI:

1️⃣ EU MiCA compliance applications boost market confidence Pi Network has officially submitted an application to the European Union's regulatory framework for crypto assets (MiCA), marking an important step for Pi coin to enter the European market. If the application is successful, Pi coin is expected to gain full legal status in Europe, which will help expand its usage and market recognition. This move demonstrates Pi Network's determination to actively embrace regulation and promote compliance, which is expected to enhance investor confidence.

2️⃣ The continuous improvement of the ecosystem drives value rise Pi Network has recently made significant updates to the Pi App Studio, adding code download and upload features, and optimizing the application management interface and user experience. These improvements make the application creation process more convenient and intuitive, which is expected to attract more developers to participate in the construction of the Pi ecosystem, promote the diversified development of platform applications, and enhance the practical value of Pi.

3️⃣ Energy efficiency advantages highlighted The annual energy consumption of the Pi Network is approximately 0.0024 terawatt-hours, which is a 99.9% reduction compared to Bitcoin's 185 terawatt-hours. This positions the Pi Network as one of the most environmentally sustainable blockchains, with its low resource consumption model highly aligned with the decarbonization goals proposed by the United Nations, potentially attracting more investors focused on environmentally friendly projects.

From a technical perspective, the PI price has found some support around $0.24. On the fundamental side, the Pi Network continues to advance its ecosystem development and compliance processes, but it is still in the development stage, and its long-term value needs further validation by the market. Investors should closely monitor the project's technical progress and market reactions, and assess investment risks reasonably.

This message is not intended as investment advice; investors should be aware of market volatility risks.