HTX Exchange Lists Pi Network, a Mobile Mining Project – How is the Price of Pi Coin Performing?
Pi Network, a mobile mining project, was listed on the HTX Exchange on the 29th of December, marking its one-year anniversary. How is the price of Pi Coin performing now? Has Pi Network’s mainnet been launched? This article aims to provide readers with a summary.
(Previous Update: Pi Coin’s Wealth Myth Goes Viral in Southeast Asia? Vietnamese Police Launch Pi Network Investigation: Hidden Risks Uncovered)
(Background Information: Bank Allows “Pi Coin to RMB Exchange” in China? Chinese Official Media Dispels Rumors)
Table of Contents:
Price Performance of Pi Coin
Frequently Asked Questions Regarding HTX Listing of Pi Coin
Why Do Some People Say that Trading Pi Coin on HTX is Trading Air?
Has Pi Network’s Mainnet Been Launched?
What is Pi Coin?
Community-Driven Application Scenarios
On December 29, 2022, at 17:00, HTX Exchange officially listed the mobile mining project Pi Coin for trading. The enthusiasm of investors at the time caused the token to skyrocket from an opening price of $0.01, reaching nearly $62 within half an hour and continuously breaking the record with a peak increase of 30,000 times.
However, after a year, how is the price of Pi Coin performing? Has the ecological development been progressing? Let’s summarize.
Firstly, in terms of price, Pi has been fluctuating between $30 to $35 for the past three months. At the time of writing, the price is currently at $30.8. Compared to the booming cryptocurrency market, its performance is relatively subdued. The trading volume in the past 24 hours is only 39,000 USDT, indicating shallow market depth.
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Image Source: HTX
Frequently Asked Questions Regarding HTX Listing of Pi Coin
After Pi Coin was listed on HTX, it surged more than a hundred times in one day. Why do some people say that it is trading air?
Currently, the main way for investors to obtain Pi Coin is by participating in mining through their mobile phones. However, HTX has not yet opened deposits and withdrawals for Pi Coin. In other words, no one can transfer their Pi Coins to the exchange for sale. The tokens that users currently buy are not spot trading in a strict sense but more like a type of Pi Coin “futures” without a delivery date. Some individuals can easily manipulate the token price with small capital.
The Pi Network official has also released a statement, stating that they have not authorized any exchange to list Pi Coin. The official website also clearly indicates that all pre-sale activities of Pi Coin are unauthorized and illegal. Users are warned not to purchase tokens from third parties, otherwise, they will bear the consequences.
Therefore, some people say that trading Pi Coin on HTX is essentially “trading air” and has no real value.
Has Pi Network’s Mainnet Been Launched?
Pi Network was established in March 2019. Originally, in December 2021, the official announced that they were preparing for the launch of the mainnet, which would be divided into two phases:
The first phase is a closed mainnet with a firewall (already launched in the middle of this year), temporarily supporting basic operations such as accessing the Pi Wallet and Pi Browser.
The second phase is an open mainnet, which is expected to launch in March or June 2022.
However, after two years, there is still no definite update on the launch of Pi Network’s mainnet, and the official has not publicly released any related source code.
What is Pi Coin?
Pi Coin emphasizes that users can continuously earn tokens simply by downloading the official app and interacting daily. Its goal is to create a low-threshold, low-cost cryptocurrency network. According to data from the Google Play Store, the application has accumulated over 50 million downloads to date.
However, unlike traditional Bitcoin mining, Pi Network does not undergo the basic “verification” process. Instead, it is more like developing an app where users can receive tokens for free by logging in and interacting daily. Currently, the rewards obtained after logging in are not actually recorded on the chain but stored in the client’s mobile phone.
In simple terms, the current Pi Coin application can still be considered a centralized product. The so-called Pi Coin transactions (which can be conducted between users through KYC) only involve transferring transaction records and interacting with centralized servers, with little fundamental difference from traditional internet operations.
Although participating in this project does not require a large capital investment, investors still need to be cautious about potential risks such as personal information leaks and the possibility of malicious viruses embedded in the application.
Community-Driven Application Scenarios
Despite the controversies surrounding Pi Coin, it cannot be denied that there are indeed many users who are actively mining Pi Coins. The vast community has also connected with numerous businesses in Taiwan, allowing Pi Coin to be used for full or partial transactions in various fields such as food, clothing, shelter, and transportation, creating tangible application scenarios.
When will Pi Coin be launched on the mainnet? How will the ecosystem develop in the future? These questions still await further verification with time.
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Related Reports:
Community Buzz! Pi Coin Users Explain the “Abnormal Profit” – 3 Exchange Accounts Blocked
What is Pi Network? Is Mining Pi Coin on Mobile a Scam? The Mainnet Continuously Delayed – KYC and Risk Summary to be Noted
Chinese Official Media Criticizes Pi Coin Together! Warning: “Mobile Mining” Air Coin Harvests Investors – Supporters: Similar Treatment to Bitcoin in the Past
Tags:
HTX
Pi
Pi Network
Pi Coin
HTX Exchange