• The Pi Network warned against listing its token on Huobi and other exchanges on Dec. 29th.
• The Pi token price surged 461.3% from $44.03 to $232.97 within 24 hours of being listed on Huobi Global.
• Pi Network clarified that its token is in an ‚Enclosed Network‘ period, during which the trading of Pi on exchanges is „explicitly prohibited.“
On December 29th, Huobi Global announced the listing of Pi, the native token of the Pi Network. This announcement caused a huge surge in the token’s price, soaring 461.3% from $44.03 to $232.97 within the 24 hours of being listed. This massive increase in price caused the fake Pi token to become the most traded token on Huobi Global over the past 24 hours, reaching a trading volume of $46.8 million.
However, the Pi Network was quick to respond and warned against listing its token on Huobi and other exchanges. In a statement released on December 29th, it clarified that its Pi token was listed “without the consent, authority or involvement of Pi Network”. It further stated that the trading of Pi on exchanges during the ‘Enclosed Network’ period is “explicitly prohibited” and that any trading of its token on exchanges would violate Pi Network’s policies.
The token is also currently available for trading on the centralized exchange XT.COM and on other platforms, such as Hotcoin Global, BitMart, and SuperEx crypto exchanges. Pi Network asked Pi miners, called Pioneers, not to engage with the unauthorized listed tokens and stated that it was not involved with any listings.
It is important to note that, while the Pi Network has not authorized the listing of its token on exchanges, it is possible that the token could be listed on other exchanges in the future. For the time being, however, it is important to practice caution and take all necessary precautions when trading Pi tokens on exchanges.