Pi Coin price is soaring in Huobi: What could go wrong?

2023-1-9 15:08

Pi Network is one of the biggest blockchains in the world.

Huobi listed Pi/USDT, a coin that has been disowned by Pi Network.

Huobi, the global cryptocurrency exchange, made the controversial decision to list Pi Coin last week. Since then, PI/USDT price has surged from a low of $0.0096 to a high of $89. This rebound makes it one of the top-performing cryptocurrencies in the world. But there is a big problem about Huobi’s Pi Network listing.

What is Pi Coin?

Pi Network is one of the biggest players in the blockchain in the world. It is a blockchain project that was started by two Stanford University alumni in 2018. Since its founding, it has thrived as the number of users have grown rapidly.

For example, Pi Network’s Android app has over 50 million downloads while its Twitter account has over 2 million followers. Pi Browser has over 10 million users around the world. The network has over 35 million users globally.

The developers aim to create a cryptocurrency that will be mainstream as it solves the challenges that existing cryptocurrencies have. For example, instead of relying on complex mining hardware, anyone with a smartphone can mine their Pi coins using their smartphones.

Pi Network also aims to create a full ecosystem that will include games and other platforms that will be powered using the Pi coin. However, for now, it is impossible to transform Pi Coins into cash since the coin has not been listed in exchanges.

Pi Coin disowns Huobi’s Pi/USDT

Huobi made the controversial decision to list the Pi/USDT pair, a financial derivative that aims to track the performance of Pi. In a press release, Pi said that it had disapproved the unauthorized decision to list its token without authorization. The company added that it had no affiliation or relationship with Huobi and other related exchanges and that Pi/USDT was not the real coin. The statement added that:

“Throughout this interim Enclosed Mainnet period, the Pi Mainnet is live, albeit with a firewall that prevents any unwanted external connectivity. The firewall ensures there is no connectivity between Pi and other blockchains or crypto exchanges without the explicit authorization of the network.”

So, is Huobi’s Pi Coin a good buy?

PIUSDT chart by TradingView

We believe that the Pi Coin listed by Huobi is not a genuine token to invest in or even trade. As we wrote in this article on Friday, we believe that Huobi is a significantly risky crypto exchange to invest in. If the developers can list a fake coin, what can’t they do?

The post Pi Coin price is soaring in Huobi: What could go wrong? appeared first on CoinJournal.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

PiCoin (PI) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 PI

huobi coin network cryptocurrency global disowned exchange

Источник: coinjournal.net

huobi coin → Результатов: 101


Разработчики Zcash раскритиковали решение Huobi о делистинге анонимных криптовалют

Стоящая за разработкой криптовалюты Zcash компания Electric Coin Company (ECC) раскритиковала решение биржи Huobi о делистинге семи анонимных криптовалют. Today it was announced that Huobi Global delisted $ZEC, along with other currencies.

2022-9-13 16:57


Фото:

Investors Sitting On 63% Gains As Gnox (GNOX) Presale Phase Two Comes To A Close, Potential To Join Top 100 Crypto Alongside Huobi (HT) And Enjin Coin (ENJ)

The top 100 crypto projects ranked by market capitalization; obtaining a spot on this list solidifies a project’s existence and marks it as a serious contender. However, this list is constantly in flux, and a ranking on this list is only guaranteed to crypto projects that provide tangible value to the ecosystem. As one project […]

2022-7-15 17:42


Фото:

The FTX Token, Huobi Token and Crypto.com Coin have all seen growth, but is it the right time to invest in them? Let’s find out.

The prices of the FTX Token FTT/USD, The Huobi Token HT/USD and Crypto. com Coin CRO/USD have seen a steady increase within the last 24 hours with no signs of stopping. Ever since Bitcoin briefly topped $40,000 after six weeks, investors have really hopped back into the cryptocurrency exchanges to make the most out of their […] The post The FTX Token, Huobi Token and Crypto.

2021-7-30 23:59


TokenInsight назвали недооцененные биржевые токены

Эксперты аналитического стартапа Tokeninsight пришли к выводу, что биржевые токены Binance Coin, OKEx Token и Huobi Token оценены ниже своей справедливой стоимости, тогда как их аналоги от KuCoin и Bitfinex, напротив, переоценены.

2020-6-8 16:50


TokenInsight: биржевые токены Binance, OKEx и Huobi недооценены

Эксперты аналитического стартапа Tokeninsight пришли к выводу, что биржевые токены Binance Coin, OKEx Token и Huobi Token оценены ниже своей справедливой стоимости, тогда как их аналоги от KuCoin и Bitfinex, напротив, переоценены.

2020-6-8 14:36


Exchange-Related Tokens Dominate Crypto ROI Last Year

While most crypto assets suffered throughout 2019, Bitcoin, and a handful of other altcoins – almost entirely comprised of exchange-related tokens – offered crypto investors the best ROI in 2019. Binance Coin, Huobi Token, and OKB Top Crypto’s Best Return in 2019 The crypto industry is a fast-moving, ever-changing industry that is driven by wild... The post appeared first on NewsBTC.

2020-1-3 20:00


Binance Coin, Huobi Token и другие цифровые монеты от криптовалютных бирж

Практически все крупнейшие торговые площадки уже запустили свои цифровые деньги, по свойствам они больше напоминают ценные бумаги, но при этом могут использоваться в практических целях. Об этом пишет РБК Крипто.

2019-11-14 17:57


Биржевые токены — главные победители 2019 года

Нет сомнений, что биткоин, который в 2019 году вырос на 192%, переживает хороший год. Но есть еще один класс криптоактивов, для которого наступили ещё более хорошие времени – это биржевые токены.

2019-7-29 14:49


дальше еще 52 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Traders dump Cardano and IOTA as they move to Vantard

Cardano and IOTA, two of the best-known players in the crypto industry, have underperformed the market over time as they evolved into ghost chains. A ghost chain is a blockchain whose coin is popular, but one that lacks a supportive ecosystem.

Crypto fear and greed index dive as focus shifts to Vantard

The crypto fear and greed index continued falling, reaching its neutral zone of 56, as most coins retreated.   Bitcoin moved to $68,000, much lower than this month’s high of $73,500. Similarly, Ethereum token fell to $2,400, while the total market cap of all cryptocurrencies dropped to $2.

Why experts are backing cryptos like Vantard, MEW, and Popcat

Cryptocurrency prices are doing well this year, with most of them outperforming traditional assets like the S&P 500, Nasdaq 100, and the Dow Jones. These indices have all jumped by over 15%, while Bitcoin has risen by almost 60%, and is hovering near its all-time high.

Growing number of Solana and Cardano investors are investing heavily in this utility token under $0.08

A growing number of smart money crypto investors are shifting their focus from Solana (SOL) and Cardano (ADA) to an emerging utility token priced under $0.08. The Rexas Finance token offers a unique value proposition with strong use cases in decentralized finance (DeFi) and real-world asset tokenization, making it an attractive alternative to more volatile […] The post Growing number of Solana and Cardano investors are investing heavily in this utility token under $0.08 appeared first on CoinJournal.