On December 29, the cryptocurrency exchange Huobi Global announced A list of Pi that are the native tokens of the Pi network. According to CoinGecko, in his 24 hours after the announcement, the Pi token price jumped 461.3% from $44.03 to $232.97 at the time of writing. dataFurthermore, according to data from CoinGecko, the token price reached an all-time high of $307.49 on December 30th.
However, Pi Network warned against listing its token on Huobi and other exchanges on December 29. According to CoinGecko dataPi is now also available for trading on the centralized exchange XT.COM.
According to Pi Network’s statement, its Pi tokens were listed “without the consent, authority or involvement of Pi Network.” Pi added that it has not been approved for trading or listing on exchanges by the network.
The Pi Network has asked Pi miners, known as Pioneers, not to engage in unauthorized listed tokens, stating that it is not involved in any listings.
Pi Network has revealed that its token is in an “enclosed network” period. During this period, trading Pi on exchanges is “explicitly prohibited”. Therefore, the statement warns that trading Pi tokens on exchanges violates the policies of the Pi Network.
According to the network, the “enclosed network” period is a strategic choice to focus on building ecosystem utility and achieving KYC/migration at scale. This is essential to building a viable ecosystem prior to the launch of an open mainnet, the network said.
The Pi Network has also requested the removal of the Pi listing, saying it is “evaluating additional actions regarding third parties and exchanges.”
A Reddit user called Huobi’s Pi listing a “scam.” Said Failed to deposit Pi tokens from wallet to exchange. Tokens are therefore equivalent to promissory notes claimed by users, which may or may not be fulfilled.
“PI’s actual price is in cents,” wrote a Reddit user, adding, “It’s a real shame that Houbi would do something like this.”
Unlicensed Pi Token Hits $46.8 Million Trading Volume On Huobi, Becomes Exchange’s Most Traded Token In Last 24 Hours, CoinGecko Data indicatesFake Pi tokens have also seen a trading volume of $2.17 million in the last 24 hours on XT.COM. coin gecko.
While Huobi and other exchanges will likely be forced to delist Pi, thousands of investors have accumulated millions of dollars by listing this allegedly fake token. will lose
