Pi Network made fresh headlines this week as the cryptocurrency trended on social media platforms like Twitter and Reddit. Pi Coin holders expect the cryptocurrency to be listed on crypto exchanges after the upcoming mainnet launch.
After that, it will be possible to buy and sell Pi Coins. One of the largest crypto exchanges, Huobi, has already announced its interest. In this article, we look at the prospects for Pi Network in 2023.
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Will Pi Coin be listed on Huobi?
Pi Network and its associated cryptocurrency Pi Coin is a crypto project that has recently gained notoriety. His Twitter account has over 2 million followers and more than 50 million people have downloaded Pi Network’s app. The project also has its own web browser – the Pi Browser. This has been downloaded about 10 million times. The two apps have remarkable user reviews.
Pi Network promises a future where anyone with a smartphone can mine cryptocurrencies. For now, it is reserved for only advanced users who mine cryptocurrencies like Bitcoin (BTC) with powerful hardware.
In addition, the developers hope that the ecosystem will be dynamic enough to build new blockchain applications and games in its ecosystem.
Pi Network has been around since 2018. During that time, Pi Coin holders have accumulated the tokens in their wallets. Since he wasn’t listed on any stock exchange, they couldn’t do anything with him. The only benefit is to participate in its ecosystem and make payments.
That could change in 2023 if developers manage to list the coin on major exchanges. In a statement this week, Huobi said it is currently investigating the coin and considering whether to list it:Huobi will closely follow Pi Network’s updates regarding the upcoming main network launch. Once the main network is successfully upgraded, Pi will be audited for listing as soon as possible.
Pi Network Price Prediction 2023
If the Huobi listing actually goes ahead, it means Pi Coin holders will be able to sell their tokens for fiat currencies such as euros or US dollars. It will also be one of the biggest crypto news stories of the year. The altcoin’s listing price is still unclear.
However, based on the lessons of 2022, it will not be recommended to buy Pi Network right after this cryptocurrency is listed. In the past, for example, we have seen the price of Step’N’s GMT token crash after the initial listing, despite being one of the most anticipated tokens in 2022.
Similarly, the native token of Aptos, a crypto platform backed by Binance and Andressen Horowitz, plunged to its lowest level ever. Sweatcoin also crashed to an all-time low.
Even in this case, it is safe to assume that most Pi Coin holders will rush to exit and flood the market with supply. This will then push the price down sharply.
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First published in CRYPTO MONDAY, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
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