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Pi Network to launch on OKX, traders raise concerns

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The Pi Network’s native token is set to list on OKX starting from Feb. 20, however users have raised concerns regarding potential trading risks.

In a recent announcement, the crypto exchange OKX declared that it will be adding PI to its platform’s spot trading markets. Users can start depositing PI as early as Feb. 12 at 2:45 UTC. Spot trading will officially begin on Feb. 20 at 8:00 UTC, while withdrawals for PI will start on Feb. 21 at 8:00 UTC.

The Pi Network is a platform that enables users to mine Pi coins using a mobile app. The project’s goal is to make cryptocurrency mining more accessible and reduce its environmental impact. It claims to be a “decentralized peer-to-peer ecosystem” which draws from a referral-driven growth model.

According to the platform’s site, the Pi Network’s mainnet will officially launch on Feb. 20, 2025 at 8:00 UTC, transitioning into what it calls the “Open Network period of Mainnet.”

“The Pi community is taking the enormous next step in achieving the Pi vision of the world’s most inclusive peer-to-peer ecosystem and online experience, fueled by Pi, the native token of Pi Network,” wrote the project.

Even though the Pi Network’s mainnet has not been launched yet, some exchanges are already showcasing IoU prices for PI. An IoU crypto token serves as a debt lending token between two parties that is transferable through the same crypto exchange platform, similar to a traditional IoU document.

Shortly after the OKX notice was published, the IoU price for PI surged to nearly 80% in the past 24 hours, according to data from CoinGecko. PI’s IoU price currently stands at $86. In the past week, the IoU price for the Pi Network token has skyrocketed by 112% in the past week. PI’s 24-hour trading volume sits at $770,718.

Pi Network to launch on OKX, traders raise concerns - 1
Price chart for PI’s IOU price on the market, February 12, 2025 | Source: CoinGecko

Potential Pi Network concerns

However, traders on X have expressed concerns regarding potential risks that could arise from OKX’s decision to list PI. One user named @Asenup4 admitted in a post that he was surprised that PI was being listed on OKX, suggesting it could indicate a shift to a more centralized model.

He describes the Pi Network as a “zero-cost mining project” it which allows users to mine crypto via a mobile phone without significant barriers.

The user highlighted the risk regarding the Pi Network’s user referral mechanism, stating that the approach has the makings of a potential pyramid scheme.

According to Pi Network’s official statement, users who wish to participate in Mainnet blockchain activities will need to complete a Know Your Customer verification process for individuals, and Know Your Business verification for businesses.

“Overall, Pi intends to be a safe web3 space where Pioneers can have external connections with the Pi they hold,” said the protocol.

However, @Asenup4 claimed that Chinese traders have faced difficulties in completing the KYC verification process due to limited slots or other systemic problems. Even if users begin the verification process now, they might not be approved in time for the token’s listing.

As previously reported by crypto.news, the first grace period for KYC verification was delayed from Nov. 31 to Dec. 31. It was delayed a second time in December 2024 to Jan. 31, stating that millions of users had not migrated their tokens to the mainnet.

Furthermore, @Asenup4 noted how the project has been in development for six years, which means a lot of its users migrated from Web2 to the Web3 ecosystem especially older users.

“If you want to attract new OKXs [users], please act with caution. Don’t defraud the elderly of their private keys,” said the user.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.



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JTO soars nearly 30% after Upbit announces listing

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JTO, the native token of Jito, has spiked 30% since Upbit announced it will be listing the Solana-based coin on Feb. 21 at 14:30 KST.

According to a recent notice, Upbit will be adding trading support for the Jito native token starting from Feb. 21 at 14:30 KST. The token will be available for trading on the Korean won market.

Shortly after Upbit announced its listing the Jito (JTO) native token spiked as high as 28%, reaching a price of $3.49 according to data from crypto.news. At press time, the token is trading hands at $3.17, having gone down by 3.5% in the past hour.

In the past few days, the token has not seen much movement in its price, only rising slightly by 0.92% in the past week and 5.48% in the past month. According to the Upbit notice, the previous day’s closing price for JTO was 4,136 Korean won or equal to $2.88.

JTO soars nearly 30% after Upbit announces listing - 1
Price chart for Jito shows a spike in trading price after its Upbit’s listing, February 21, 2025 | Source: crypto.news

Jito’s trading volume also saw a significant boost in the past 24 hours, rising by 425.5% compared to the previous trading day. This indicates that more traders are now buying and selling the token. JTO has a market cap of $925 million, just shy of reaching a billion. Meanwhile, its fully diluted valuations stands at $3.2 billion and a circulating supply of 296 million tokens.

Buy orders for JTO will be restricted to around five minutes after trading support begins. While all types of orders, with the exception of limit orders, will be restricted for one hour after the exchange begins trading support. Sell order prices are capped at a minimum of 10% less than the previous day’s closing price.

Jito is known as the biggest liquid staking project on Solana, with a TVL of 15.12 million SOL or equal to $2.6 billion according to its website. As previously reported on Jan. 29, Jito rose to become the third largest crypto project by fees with $63 million, falling only behind Tether (USDT) and Tron (TRX).

Jito launched its native token, JTO, in November 2023 as a governing token and to develop liquidity for the Solana-based protocol.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.



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Bittensor spikes 20% after Coinbase announces TAO listing

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Bittensor price rose sharply on Feb. 19 after crypto exchange Coinbase announced the listing of the native token of the decentralized artificial intelligence network.

As most altcoins registered notable gains in the past 24 hour period, Bittensor (TAO) spiked 20% to hit intraday highs of $420. These gains were modest compared to outperformers in the top 100 coins by market cap such as Story, Sonic, Aptos and Floki. However, with double digit gains, Bittensor ranked among the top performers. 

The performance saw TAO recoup losses it suffered in the past few days as alts mirrored Bitcoin’s struggles. With 20% upside, bulls wiped most of the accrued losses in the month-to-date period, returning to levels seen when Bittensor price reacted positively to AI news around DeepSeek.

Coinbase to list TAO

A dose of volatility saw Bitcoin rebound above $96,000 and XRP rise 6% amid news of Hashdex’s spot XRP exchange-traded fund approval in Brazil. Cryptocurrencies traded slightly higher as investors awaited the Federal Open Market Committee meeting minutes.

This, along with Coinbase’s upcoming listing of Bittensor on Feb. 20, helped push TAO higher.

In an announcement, the U.S.-based crypto exchange confirmed it would add trading support for TAO on the Bittensor network. The phased launch will offer trading with the TAO/USD pair.

“Trading will begin on or after 9AM PT on February 20 2025 if liquidity conditions are met. Once sufficient supply of this asset is established trading on our TAO-USD trading pair will launch in phases,” Coinbase wrote on X.

Bittensor’s price also soared earlier this month after the project released its Dynamic TAO whitepaper, outlining a major upgrade.

Does TAO listing on Coinbase matter?

Bittensor is a top AI token by market cap, currently the second-largest behind NEAR.  Notably, the native token is already listed on Binance, Kraken and other top exchanges. Coinbase listing is nonetheless key as it could give Bittensor further traction.

Besides, the project that launched in 2019 has received investment backing from some of the top venture capital players in the market, including Pantera Capital, Digital Currency Group and Lyrik Ventures.

Grayscale recently noted Bittensor is a crucial project in the AI space as its decentralized model can help increase transparency and democratize access.

According to Grayscale, this is key in the wake of projects such as DeepSeek. While these initiatives highlight the power and potential of open-source AI, the fact that they are centralized companies means there could be risks such as data security and embedded biases. A lack of transparency is another major concern.



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Dogwifhat spikes 37% as Coinbase announces WIF listing

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Dogwifhat has surged more than 37% in the past 24 hours, with the meme coin’s price rising sharply after token listing news from crypto exchange Coinbase.

Coinbase announced on Nov. 13 that it had added Dogwifhat (WIF) to its listing roadmap. The announcement saw the price of the Solana (SOL) meme coin spike to highs of $4.21 – WIF’s highest price level since March when bulls reached the all-time high of $4.83.

The news excited the Dogwifhat market, with this seeing WIF join Pepe (PEPE) and Dogecoin (DOGE) as the day’s hottest top meme coins. As crypto.news highlighted earlier in the day, Pepe price spiked amid listing news on Coinbase and Robinhood.

Meanwhile, DOGE broke above $0.41 as the ecosystem cheered U.S. president-elect Donald Trump’s announcement that Elon Musk and Vivek Ramaswamy would head the Department of Government Efficiency effort.

In WIF’s case, the latest news from Coinbase has reinvigorated the upside potential that engulfed the token in April. This was when the U.S.-based crypto exchange first announced support for Dogwifhat perpetual futures on Coinbase International and Coinbase Advanced.

In a post on X, Coinbase chief legal officer Paul Grewal confirmed the listing of WIF. According to Grewal, the exchange has added the meme coin to its roadmap amid plans to list it.

With traders largely bullish on listing events, particularly on top exchanges like Coinbase and Binance, the latest news about such an action for Dogwifhat has led to bullish bets. As the market anticipates greater visibility and demand for the meme coin, WIF’s open interest has increased more than 40% to over $729 million.

The token traded at $4.14 at the time of writing, about 14% off its all-time high.



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