Crypto News: Here are the most popular stories from across the cryptosphere as featured on BeInCrypto this first week of the new year.
False Pi Listings
Reports that Huobi and XT.com were listing the Pi token sent its valuation soaring. However, the crypto community became skeptical of the listing, as there had been no official announcement from the Pi Network. Some even went as far as calling out Huobi for attempting to scam investors.
The Pi network team announced that they had not been involved with any purported listings. They warned that investors could sustain substantial losses by participating in unauthorized listings. According to the announcement, “Pi is currently in the Enclosed Network and is not approved by Pi Network for listing on any exchange or for trading.”
Trump tokens down
Non-fungible tokens recently launched by former US President Donald Trump have already fallen 80% below their peak value. The floor price of the collection dropped to 0.19 ETH from a peak of 0.84 ETH in less than two weeks.
In addition to the drop in floor prices, daily sales are also down 99% from their peak. This indicates a significant loss of momentum. CryptoSlam data showed one week’s sales volume had declined by 94% amounting to just over $386,170.
Schiff tries trolling Saylor
Bitcoin skeptic Peter Schiff said that 2023 would test the staying power of Bitcoin hodlers after Michael Saylor sold 700 BTC for tax relief. Schiff emphasized that Bitcoin had lost 65% of its value over the course of 2022. He created a poll asking how long Bitcoin would have to go before investors would sell. Defiantly, some 61% of respondents said they would hold until zero.
MicroStrategy had indeed sold 704 BTC for roughly $12 million but proceeded to repurchase 810 BTC a few days later. MicroStrategy founder Saylor admitted that selling…
