Pi Coin Huobi listing
Pi Network is an extremely well-known crypto worldwide. More than 50 million individuals have downloaded the app, and it has more than 2 million followers on Twitter. More than 10 million users have downloaded the Pi Browser globally. According to Pi Network, in the future, everyone can mine bitcoins using a smartphone. As opposed to coins like Bitcoin and Ravencoin which can only be mined by sophisticated users.
Additionally, the developers predict that the ecosystem will have enough activity. The creation of games and applications for its environment is indicated by this.
Since 2018, Pi Network has been operational. Pi Coin owners kept adding money to their wallets during this period. They were powerless to do anything with it because it was not listed on any exchange. The sole benefit is to take part in the ecosystem and pay for it.
This might change in 2023 if the creators are successful in having it listed on significant exchanges. Huobi stated this week that it was researching the coin and debating whether to list it.
Unauthorized Pi token listing?
The listing of Pi, the native token of the Pi Network, was announced by cryptocurrency exchange Huobi Global on December 29. According to CoinGecko data, the price of the Pi token increased by 461.3% in the 24 hours following the announcement, from $44.03 to $232.97 at the time of writing. Additionally, according to data from CoinGecko, the token price rose to an all-time high of $307.49 on December 30.
On December 29, the Pi Network issued a warning to its investors about this listing on Huobi and other marketplaces. Pi is now tradeable on the centralized exchange XT.COM, according to CoinGecko statistics. Pi may also be traded on the cryptocurrency exchanges Hotcoin Global, BitMart, and SuperEx, according to CMC.
The Pi Network's official statement mentions that the listing of its Pi token occurred "without the approval, authority, or involvement of Pi Network." Pi is not authorized by the network for trade or listing on any exchange, it was further said.
The network requested that Pi miners, known as ‘Pioneers’, refrain from dealing with the illegally advertised coins, stating that Pi Network was not associated with any listings.
The trading of Pi on exchanges is "explicitly restricted" while its token is in an "Enclosed Network" period, according to Pi Network. Pi Network thus warned that trading Pi tokens on exchanges would be against its rules.
The network claims that the "Enclosed Network" era was strategically chosen to concentrate on attaining widespread KYC/migration and establishing ecosystem services. According to the network, this is crucial to creating a strong ecosystem prior to the introduction of the open mainnet.
Additionally, Pi Network stated that it has asked for the removal of the Pi listings and is "considering further actions regarding the third parties and exchanges."
A Reddit member claimed that Huobi's Pi listing was a "scam" and that the wallet could not be used to deposit Pi tokens into exchanges. The tokens are therefore comparable to an IOU that the user may or may not be paid.
Pi Network price prediction 2023
Pi Coin owners will be able to exchange their coins for fiat money after this listing takes place. It will rank among the biggest cryptocurrency stories of the year. The coin's listing price is still unknown.
However, when Pi Network is listed, it won't be advised to buy based on the lessons of 2022. One of the most anticipated tokens in 2022, Step'N's GMT, for instance, plummeted to an all-time low.
In a similar vein, Aptos, which is supported by Binance and Andressen Horowitz, fell to its lowest point ever. Sweatcoin, a cryptocurrency with genuine utility, fell to an all-time low.
Therefore, we anticipate that a massive exodus of Pi Coin owners will flood the market with supplies. After then, the price of the Pi Network would crash. This, in my opinion, is the major deterrent for Pi developers from listing the coin.
