The highly anticipated cryptocurrency project in 2023 (Pi Network) has apparently received a CC rating and a negative outlook from TokenInsight, a data-driven blockchain institution.
Pi Network is a decentralized network based on the Stellar Consensus Protocol that allows users to use mobile devices to validate and earn rewards.#TokenInsight gives Pi a rating of CC and a negative outlook.
— TokenInsight (@TokenInsight) January 5, 2023
But what does the CC rating actually mean? Well, according to Alexa Answers , “A CC rating is a non-investment rating, applying that the company’s bonds are very high risk.” It’s unfortunate that Pi Network had such a low rating, but TokenInsight attributed the poor evaluation to Core Team.
Although TokenInsight did not make it clear why it blamed the Core Team for the negative outlook, it might be related to the quick response the team issued after Pi token was listed on exchanges, even though it was an IOU listing. If the Core Team asks exchanges to delist the token after it has been listed, pioneers who are eagerly awaiting the launch of the mainnet will never be excited no matter how legal the decision may be.
What is TokenInsight?
TokenInsight is a data-driven blockchain institution, which is committed to providing market intelligence: ratings, industry research, and data through comprehensive blockchain industry classification system and proprietary rating research mechanisms, by helping investors find value in blockchain and navigate uncertainties in the digital assets market.
What is Pi Network?
Pi Network is a decentralized network based on the Stellar Consensus Protocol that allows users to use mobile devices to validate and earn rewards.