PIPE (Pipe Network) fell 36.56% in 24 hours.

Gate News Bot News, October 9, according to CoinMarketCap data, PIPE (Pipe Network) is currently priced at $0.23, a fall of 36.56% in the last 24 hours, with a high of $0.36 and a low of $0.20. The current market capitalization is approximately $22.629 million, a decrease of $13.0432 million compared to yesterday.

Pipe Network is a super-localized CDN and storage network. It can transform any virtual machine or cluster into a super-localized POP (Point of Presence) for CDN and storage. Pipe Network requires no hardware or tickets and provides proof-based performance. The platform allows users to quickly deploy internet infrastructure where needed, routing traffic and caching important content through real-time measurements. Each response comes with proof, ensuring that service level objectives are publicly verified. Features of Pipe Network include local priority, elastic scalability, provable performance, and simple S3 and HTTP interfaces.

Recent important news about PIP:

1️⃣ Gate launches PIPE token for the first time The Gate platform will officially launch Pipe Network on October 8, 2025, at 23:00 ( UTC+8, with PIPE) spot trading. This marks the official entry of PIPE into mainstream trading platforms, providing important support for its liquidity and market acceptance.

2️⃣ Launchpool Project Launch Gate has synchronously launched the 329th phase of the Launchpool project, distributing 500,000 PIPE tokens from October 7, 2025, 14:00 to October 12, 14:00. Users can participate in the airdrop event by staking GUSD or ETH, which will bring more attention and potential investors to PIPE.

3️⃣ Token Distribution and Project Background The Pipe Network is developed based on the Solana chain, with a total token supply of 1 billion. The community accounts for 33%, venture capital 20%, core contributors 17%, and the ecosystem, node operators, and angel investors each account for 10%. This distribution reflects the project's emphasis on long-term development and community involvement.

The price of PIPE experienced significant volatility on its first trading day, falling by 36.56% within 24 hours. This may be related to the initial lack of liquidity and fluctuations in investor sentiment following the listing of the new token. As the market gradually digests new information, the price and trading volume of PIPE may stabilize.

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