With the Huobi listing, Pi Network Gets More Support
Huobi has been instrumental in generating a lot of buzz around the Pi ecosystem by listing the $PI token.
Huobi provides a 50% APY on Pi deposits
During the past several weeks, Pi Network has been rather busy in the cryptocurrency industry. Huobi Exchange’s support is the most recent turn of events, coming on the heels of the exchange’s listing of its native Pi cryptocurrency.
On December 29th, spot trading in PI/USDT was added to the expanding markets on the premier centralized exchange with over 600 coins. Huobi included Pi in its Huobi Earn investing program a few days after IPO. On January 4th, the exchange announced via tweet that Pi token deposits will earn up to 50% yearly (APY).
— Huobi (@HuobiGlobal) January 4, 2023
Huobi Earn lets users invest a portion of their digital assets in a Fixed or Flexible deposit to earn competitive annual percentage yields (APYs).
Right after it was listed on Huobi, $PI jumped to $305, but it has since corrected and is now trading at $86.67.
Pi can be bought and sold on Huobi, but the exchange’s credibility has been called into question. Tokens priced in $Pi that are traded on exchanges are unrelated to the Pi Network, which has not yet opened its mainnet. Pi Network has also distanced itself from any $PI listing on any exchange, as the Pi Core Team has said.
Pi has not been listed on any exchange, and Pi Network has not been involved with any purported listings. You could sustain substantial loss by participating in unauthorized listings. Read more on our website: https://t.co/rbntZ7DROj pic.twitter.com/LJztPOH35c
— Pi Network (@PiCoreTeam) December 30, 2022
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What is Pi Network?
In a nutshell, Pi Network is a revolutionary cryptocurrency and developer platform that enables mobile users to mine Pi coins without significantly impacting the device’s battery life. Using a mobile meritocracy system, Pi’s blockchain not only protects monetary transactions, but also provides a full Web 3.0 experience where community developers can create decentralized applications (Dapps) for millions of users.
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