HTX, one of the leading cryptocurrency exchanges in the world, has made a significant announcement regarding the long-awaited launch of the Pi Network (PI) mainnet. The exchange revealed that it will be supporting the mainnet launch by delisting its IOU-based PI token and exchanging user holdings for USDT at a rate of 1:61.28. This move comes as a major development in the cryptocurrency world, as it marks a significant step towards the transition of Pi Network from a closed ecosystem to a fully operational blockchain.
According to sources, HTX will cease all PI IOU coin trading on February 13 at 08:00 UTC. Any open orders will be automatically canceled, and user spot accounts will be credited with the converted assets. This decision by HTX has been driven by the growing interest among retail investors in Pi Network’s potential shift to a fully operational blockchain.
In a statement, HTX confirmed that the new PI token will be listed on the exchange after the mainnet launch. The exchange stated, “Once the mainnet launches successfully, HTX will quickly list the new token PI and open spot trading services.” Users have been advised to stay tuned for further updates on this development.
The delisting of PI coin by HTX has also addressed a gap in Pi IOU trading, as the coin recently experienced a significant 21% drop in value within a single day. Pi Network, a blockchain project that focuses on mobile devices, has garnered a large user base due to its unique mining system that does not require any initial investment.
This announcement by HTX comes shortly after Bitget announced the listing of Pi Network Token (PI) on February 20, further solidifying the growing interest and support for the project within the cryptocurrency community. As the mainnet launch of Pi Network approaches, all eyes will be on the developments surrounding the new PI token and its potential impact on the cryptocurrency market.