HTX Delists PI Token, Converts Holdings to USDT Before Mainnet Launch
HTX has delisted the PI token, converting user holdings to USDT at a fixed rate of 1 PI = 61.28 USDT. This decision follows the upcoming mainnet launch of Pi Network on February 20, 2025.
- Trading for the PI/USDT pair was halted on February 13, 2025, at 08:00 UTC.
- The conversion will be credited to users' Spot accounts.
- All open orders for the PI/USDT pair were canceled automatically.
- HTX plans to relist the official PI token post-mainnet launch.
Mainnet Launch Details
Pi Network will transition to its Open Network on February 20, 2025, exceeding 10.14 million migrations. The platform aims to create an ecosystem for practical applications of the PI token.
- Criticism has arisen regarding the project's lengthy development since 2019.
- Bybit CEO Ben Zhou expressed skepticism about PI's future.
Market Reaction
Exchanges like OKX and Bitget are set to list PI for spot trading, which may enhance confidence in the token. The PI IOU price rose by over 2% recently, now trading at $61.29, though trading volume dropped by over 26% in the past day.