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Crypto

Pi Network Soars as Market Stabilizes Amid Macroeconomic Pressures

Guavy AI Editorial Team
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BTC
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The Pi Network cryptocurrency has continued its upward trend, trading above $0.095 on Friday after the Core Team rolled out an update to the SoloHost app, introducing a new ranking system and other developer features.

This move comes as the broader cryptocurrency market shows signs of stability, with Bitcoin (BTC) hovering above $77,000 despite institutional demand weakening due to spot BTC Exchange Traded Funds (ETFs) recording nearly $500 million in net outflows through Thursday.

The US Producer Price Index (PPI) data has also added to the pressure on Bitcoin, as hotter-than-expected numbers have strengthened expectations for a September rate hike.

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