- Pi Network trended in social media after Huobi hinted about a listing.
- The exchange will list it after the upcoming mainnet launch.
Pi Network made headlines this week as it trended in key social media platforms like Twitter and Reddit. The Pi Coin trended as the token’s holders anticipated the upcoming mainnet launch and exchange listings. So, what is the outlook of Pi in 2023?
Pi Coin Huobi listing
For starters, Pi Network is one of the most popular cryptocurrencies in the world. It has over 2 million followers on Twitter while over 50 million people have downloaded its application. Its Pi Browser has been downloaded by more than 10 million users around the world. The two apps have remarkable user ratings.
Pi Network promises a future where anyone with a smartphone can mine cryptocurrencies. This is in contrast to what exists now where only advanced users can mine coins like Bitcoin and Ravencoin.
In addition, the developers hope that the ecosystem will be vibrant enough. This means that developers can build applications and games in its ecosystem.
Pi Network has been in existence since 2018. During this time, Pi Coin holders continued accumulating the coin in their wallets. Since it was not listed in any exchange, they could not do anything with it. The only utility is to participate and make payments in its ecosystem.
This could change in 2023 if the developers manage to list it in key exchanges. In a statement this week, Huobi said that it was studying the coin and considering whether to list it. The statement added:
“Huobi will follow up closely with Pi Network's updates regarding the upcoming mainnet launch. Once the main network is upgraded successfully, Pi will be reviewed for listing at the soonest.”
Pi Network price prediction 2023
If this listing happens, it means that Pi Coin holders will be able to sell them for fiat currency. It will also be one of the biggest crypto news of the year. It is still unclear the listing price of the coin.
However, based on the lessons of 2022, it will not be recommended to buy Pi Network when it gets listed. For example, Step’N’s GMT token, which was one of the most anticipated in 2022 crashed to an all-time low.
Similarly, Aptos, which is backed by Binance and Andressen Horowitz plunged to the lowest level on record. Sweatcoin, which has real utility, plunged to an all-time low.
Therefore, we expect that millions of Pi Coin holders will rush to the exit and flood the market with supply. This will then crash the Pi Network price. In my view, this is the main reason why Pi developers are yet to list the coin.
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