Pi Coin price is soaring in Huobi: What could go wrong?

• Pi Network is one of the world’s largest blockchains.

• Huobi has listed Pi/USDT, a coin disowned by Pi Network.

Global cryptocurrency exchange Huobi made the controversial decision to list Paicoin last week. Since then, the PI/USDT price has surged from a low of $0.0096 to a high of $89. This rebound makes him one of the best performing cryptocurrencies in the world. But Huobi has a big problem with his Pi Network list.

What is Picoin?

Pi Network is one of the biggest players in blockchain in the world. A blockchain project started by two Stanford University graduates in 2018.

For example, Pi Network’s Android app has over 50 million downloads and their Twitter account has over 2 million followers. Pi Browser has more than 10 million users worldwide. This network has over 35 million users worldwide.

The developers aim to create a mainstream cryptocurrency to solve the problems of existing cryptocurrencies. For example, anyone with a smartphone can use it to mine his Pi coins instead of relying on complicated mining hardware.

Pi Network also aims to create a complete ecosystem including games and other platforms that use Pi Coins. However, at this time Pi coins cannot be converted into cash as the coins are not listed on any exchange.

Pi Coin denies Huobi’s Pi/USDT

Huobi has made the controversial decision to list the Pi/USDT pair, a financial derivative intended to track the performance of Pi. Press He said in a release that Pi did not approve of its unauthorized decision to list tokens without permission. The company has no affiliation or relationship with Huobi or other related exchanges, adding that Pi/USDT is not a real coin. The statement added:

During this interim Enclosed Mainnet period, the Pi Mainnet is operational, although there are firewalls preventing unwanted external connections. We guarantee that there is no connection between you and any chain or crypto exchange.

So, is Huobi’s Pi Coin a good buy?

PIUSDT chart by TradingView

We believe that the Pi Coin listed by Huobi is not a real token to invest or trade.as written in this article If developers can list fake coins, what can’t they do?