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In a whirlwind of activity within the cryptocurrency market, Pi (Pi Network) has surged to prominence with a reported trading volume of $35.9 million on CoinMarketCap within a 24-hour period.
ADULAWO News reports that the significant uptick in trading activity has captured the attention of investors and enthusiasts alike, highlighting the growing interest in Pi Network’s native cryptocurrency.
According to data from CoinMarketCap, Pi’s price has experienced a notable increase, soaring by 45.50% to reach $116.17 at the time of writing this post. However, it’s essential to note that this price is currently represented as an IOU and cannot be transferred to exchanges until the launch of the mainnet.
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Despite the apparent validation of Pi’s listing by CoinMarketCap, cautionary notes have been issued regarding the trading of Pi Coin while the mainnet remains in an enclosed stage.
CoinMarketCap, in alignment with the decision of the Pi Network Core Team, has issued warnings to users regarding the legitimacy of Pi Network and the status of its token.
In a statement, CoinMarketCap emphasized that the price displayed for Pi on certain exchanges reflects the value of IOUs and may not be transferable across platforms. This warning underscores the need for users to exercise caution and diligence when engaging in Pi trading activities.
The Pi Network Core Team has reiterated its stance on the unauthorized listing of Pi tokens, affirming that Pi is not authorized for trade or listing on any exchange without the network’s approval or involvement. Furthermore, Pi Network has urged its miners, known as Pioneers, to refrain from engaging with illegally advertised coins and cautioned against trading Pi tokens on exchanges during the Enclosed Network period.
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As Pi Network continues to navigate the complexities of the cryptocurrency market, its trading volume on CoinMarketCap serves as a testament to the growing interest and participation in the project. With ongoing developments and the impending launch of the mainnet, the future trajectory of Pi and its impact on the broader cryptocurrency landscape remain subjects of keen observation and speculation. Read Similar Story