Pi pricePI

As of August 12, 2025, the cryptocurrency market is experiencing notable developments across various fronts, including market performance, regulatory actions, and significant corporate moves.

Market Performance Overview

The total cryptocurrency market capitalization has declined by 2.54%, settling at $3.96 trillion. This downturn is accompanied by an 11.01% increase in intraday trading volume, reaching $192.79 billion, indicating heightened market activity despite the overall decline. Bitcoin's dominance remains at 59.7%, while Ethereum's share has slightly increased to 13.1%. The Fear & Greed Index stands at 60, reflecting a "Greed" sentiment among investors.

Bitcoin and Ethereum Price Movements

Bitcoin (BTC) has experienced a price decline to $118,502, triggering $72 million in long liquidations. Ethereum (ETH) has also seen significant liquidations amounting to $130.02 million. These movements contribute to a total of $442.31 million in crypto liquidations over the past 24 hours. Despite positive developments such as Metaplanet's $61 million BTC purchase and ongoing inflows into BlackRock's ETH ETF, traders are engaging in profit-taking following Bitcoin's 4% weekly rise. The market is currently awaiting the U.S. Consumer Price Index (CPI) report, which could influence future market directions.

Altcoin Market Dynamics

A series of token unlocks totaling $653 million is impacting the altcoin market. Notably, Dogecoin (DOGE) has dropped 5.81% following a 95.49 million DOGE unlock valued at $22 million, compounded by significant whale movements transferring 1 billion DOGE to exchanges. Arbitrum (ARB) has declined by 6.76%, and Sui (SUI) has decreased by 6.28%. These unlocks are increasing supply, making it challenging for prices to maintain stability during bearish conditions.

Regulatory Developments

The U.S. has enacted the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act), establishing a comprehensive regulatory framework for stablecoins. The act mandates that stablecoins be backed one-to-one by U.S. dollars or other low-risk assets, setting stringent standards for reserves, audits, and transparency. This legislation marks a significant step toward dual federal and state supervision and consumer protection in the stablecoin sector.

In the European Union, the Markets in Crypto-Assets (MiCA) regulation has been fully applicable since December 2024. MiCA aims to streamline the adoption of blockchain and distributed ledger technology within the EU while ensuring user and investor protection. This regulation provides a comprehensive framework for crypto assets, enhancing legal clarity and fostering innovation in the sector.

Corporate and Legal News

World Liberty Financial, a crypto venture backed by Donald Trump and his sons, has announced a $1.5 billion crypto treasury initiative in collaboration with Nasdaq-listed ALT5 Sigma Corporation. The deal involves ALT5 selling $1.5 billion in shares, with half paid in World Liberty's cryptocurrency, $WLFI. The remaining funds will be used to purchase more $WLFI, settle litigation, pay debts, and fund other activities. This move underscores the Trump administration's strong support for the crypto industry, aiming to bridge traditional finance with digital assets.

In legal developments, Do Kwon, co-founder of Terraform Labs, is expected to plead guilty to U.S. fraud charges related to the collapse of the TerraUSD and Luna cryptocurrencies, which resulted in an estimated $40 billion in losses in 2022. A hearing is scheduled for today at 10:30 a.m. EDT in Manhattan federal court. Kwon faces a nine-count indictment, including securities fraud, wire fraud, commodities fraud, and conspiracy to commit money laundering.

Market Sentiment and Future Outlook

The current market correction follows a strong monthly rally, with profit-taking, heavy token unlocks, and macroeconomic caution contributing to the downturn. Investors are closely monitoring upcoming U.S. CPI data, which could influence Federal Reserve policies and, consequently, market liquidity. Additionally, the expiration of the 90-day tariff truce between the U.S. and China adds to market uncertainty, potentially affecting investor sentiment and market dynamics.

In summary, the cryptocurrency market on August 12, 2025, is navigating a complex landscape of market corrections, regulatory advancements, corporate initiatives, and legal proceedings. Investors are advised to stay informed and exercise caution amid these evolving developments.

Pi Network is a cryptocurrency project that aims to make digital currency mining accessible to a broader audience by utilizing mobile technology. Launched in 2019, Pi Network allows users to mine Pi tokens directly from their smartphones without the need for energy-intensive hardware, thereby democratizing the mining process.

Innovative Mobile Mining Mechanism

Traditional cryptocurrency mining often requires substantial computational power and energy consumption, which can be a barrier for many individuals. Pi Network addresses this challenge by enabling users to earn Pi tokens with a simple tap on their mobile app. This approach not only simplifies the mining process but also reduces the environmental impact associated with traditional mining methods.

Strong User Referral System

A key feature of Pi Network is its robust user referral mechanism. Users can invite others to join the network using their referral codes, and in return, they earn additional Pi tokens based on the number of successful referrals. This system has significantly contributed to the rapid growth of the Pi Network community. As of February 2025, 19 million Pioneers have successfully completed the necessary procedures, with 10 million having migrated to the mainnet.

Listing on Bitget Exchange

In February 2025, Bitget, a leading cryptocurrency exchange and Web3 company, announced the listing of Pi Network's native token, PI, on its platform. Trading for the PI/USDT pair commenced on February 20, 2025, at 8:00 (UTC), with deposits and withdrawals made available to users.

To celebrate the listing, Bitget launched the CandyBomb promotional event, offering users the opportunity to earn PI tokens through deposits and trading activities. A total of 150,000 PI tokens were allocated for this campaign, which ran from February 16 to February 27, 2025. The distribution was divided into net deposits and spot trading pools, with 50,000 PI tokens allocated based on net deposits and 100,000 PI tokens reserved exclusively for new spot traders.

Market Performance

As of August 12, 2025, Pi Network's native token, PI, is trading at $0.377839 USD, reflecting a slight decrease of 0.06828% from the previous close. The intraday high reached $0.408135 USD, while the intraday low was $0.375721 USD.

Conclusion

Pi Network's innovative approach to mobile mining and its strong referral system have contributed to its rapid growth and widespread adoption. The listing of PI on Bitget Exchange further enhances its accessibility and provides users with additional opportunities to engage with the token. As the cryptocurrency landscape continues to evolve, Pi Network's commitment to making digital currency mining more inclusive positions it as a noteworthy project in the blockchain space.