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Pi Network (PI) News Today: September 3rd

From worth swings to main bulletins, the Pi Network went via every week crammed with developments.

Shaky Week

The community’s native token skilled some fluctuations over the past 7 days, beginning within the pink final Wednesday. By Saturday, it managed to shut the day at $0.39, earlier than tumbling again right down to $0.34 on the finish of the Monday buying and selling session, in keeping with information from TradingView. At the time of writing, the buying and selling worth continues to be throughout the latter vary.

Recall that the asset marked a brand new all-time low final week at $0.33 earlier than recovering barely.

Source: TradingView

New OS Capabilities

To shake off the tough begin of the week, the core staff behind Pi Network made a long-awaited announcement to the neighborhood, making it potential for Linux customers to run nodes on their machines, which ignited a brand new rally that may be seen within the above chart.

Parallel to this information, it was additionally disclosed that the protocol can be transferring from model 19 to 23, tailored from Stellar. The improve will even improve the KYC move by embedding it instantly into the sensible contract, together with an fascinating function.

“While the native Pi KYC answer continues to confirm Pioneers, the protocol will enable the KYC authority to be assigned to different trusted entities sooner or later. This provides a extra distributed, community-driven KYC course of whereas sustaining compliance on the protocol stage.”

ETP Product on the Nordic Market

Adding additional gasoline to the flame, the Pi Network staff continued with the novel function publications, sharing the information that the native token is now accessible on the Spotlight Stock Market, which is headquartered in Stockholm and provides publicity to 140 corporations and 66 ETPs.

This permits for it to be traded as an exchange-traded product in Europe through conventional brokers, below the Valour PI ETP.

Global Event Sponsor

As announced yesterday on the social media platform X, Pi Network can be a gold sponsor at Token 2049, the world’s largest crypto occasion, which can be held in Singapore this yr.

Part of the sponsor line-up contains trade heavyweights Circle, Coinbase, and Bitget, together with quite a few different establishments. This won’t solely enable the neighborhood to fulfill with the staff but additionally be part of an occasion that includes 1000’s of corporations and lots of of exhibitors, showcasing the latest developments within the crypto ecosystem.

More Unlocks

As per custom, there can be one other wave of Pi token unlocks immediately, round 5.3 million, which can be valued at roughly $1.8M. The highest quantity that can be dispersed this month can be on Saturday, the sixth, which is able to see over 12 million tokens being launched, with an estimated worth of over $4M.

Still, that is removed from the largest-ever unlock, which occurred on July 4th, with over 19 million tokens issued in circulation. Overall, for the subsequent 30 days, we are going to see over 153 million in token unlocks.

Source: PiScan.io

The submit Pi Network (PI) News Today: September 3rd appeared first on CryptoPotato.

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