Why Pi Coin listed on the Huobi exchange?


Hi Readers,

We all well know that the unique cryptocurrency and one can mine Pi with their mobile phone without draining the batteries.

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To the surprise to everyone the Huobi Exchange listed Pi for Spot trading on Dec 29, 2022 with USDT pairs.  Huobi announced that having after the main network launched, it will enable the deposits and withdrawals for Pi. 

Though the main network for Pi is yet to launch, the listing has happened with Huobi. But the Pi Network responded it back that as PI is currently trading with the closed network and it has not approved any listings on any exchanges for trading and it has alerted its users not to engage with the listing and other follow up things. 

But, what is known from the sources that the listing does not have any formal permissions from the developers.

There are many speculations that the listing of Pi on Huobi may be because the exchange would attract the users from China which has most number of Pi miners. 

However, it is a normal advice that by calculating the circulating supply which is higher for Pi, this may go below trading 1 cent when the main network gets released.

At the point of writing this article, Pi trades at 101.63 $ in Huobi Exchange. 

So be caution on this!

In the meantime, Huobi announced layoff to 20% of its staff.  The Huobi Token which ranked 48, according to the coinmarketcap.com website, currently trades at $ 4.69. 

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