Pi Network Announces It Is Involved With No Exchange For Listing Its Pi Token

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Pi Network, a cryptocurrency project that has been around for more than a couple of years has recently made an announcement about its listing.

The network has made the announcement through its official page where it has provided clarification on a matter involving its native token “Pi”.

It is being rumored for a while that the Pi Network is in talks with multiple cryptocurrency exchanges for the listing of its token.

However, the network is currently denying such rumors to clear out any confusion. The network has confirmed that it is undergoing no discussions to get its token enlisted through an exchange.

Pi Network is Operating in an Enclosed Network

The teams behind the development of the Pi Network have revealed that their entire protocol is still within its enclosed form.

They prefer to let their network operate in the same enclosed manner. Until they see an opportunity to launch the network, they will not be making the move of coming out and going for the public offering.

Therefore, it is completely false to suggest that the Pi Network is involved in any kind of discussions with any exchanges.

At the moment, they have no interest in making a public debut so they do not want to get enlisted through any exchange. Similarly, their token is not available for the purpose of trading.

Pi Network has Called Out Third-Party Exchanges

In addition to releasing an official statement about having no ties or discussions with any exchanges, the teams have also called out the third-party exchanges.

According to the Pi Network, multiple third-party exchanges have tried to list their token in recent instances. They have even claimed that they have launched the Pi token through their platforms.

However, what they have attempted is trying to mislead the investors into thinking that they are actually investing in the Pi tokens. In reality, they cannot do it because the Pi token has not been publicly issued from their end.

The users can neither buy, sell, nor trade with the Pi token. For now, the token is only available in its mining state and any exchange listing its token is doing it without the consent of the Pi Network.

The network has advised the users to be very careful and not fall for such claims made by third-party exchanges.

These exchanges are unauthorized, which means they are not legally bound to comply with any kind of listing rules. They may come up with a fake token only to lure people and steal their funds.

The Pi Network is currently taking care of internal matters and they have no plans to make a public debut. They will go live when they think their network is prepared to handle the customer demand.

Announcement Made by Huobi

The confusion began when one of the largest cryptocurrency exchanges in the entire world made an announcement involving the Pi Network.

The exchange announced on December 29 that they were going to list the Pi token. Just as the exchange made the announcement, the trading price of the asset shot up.

In a matter of 24-hours, the trading price of the Pi token rose to a high of $232.97 per Pi. Prior to the pump, the trading price of the token was at a low of $44.03.

The data shows that in a matter of 24 hours, the trading price of the Pi token surged by 461.3%.

Later, the Pi Network confirmed that they had been under no discussions with the Huobi exchange. Therefore, it is not correct that their token is to be enlisted through the particular exchange.

The Pi Network teams have made it clear that they were completely unaware that the Huobi exchange would make such a claim.

They are trying to get to the bottom of the matter and solve the confusion with the Huobi exchange.


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