- Binance recently decided to exclude Pi Network from its listing vote which creates doubts about its upcoming approval process.
- The value of Pi Network has fallen to $0.6472 as market forces devastated it’s worth which produced substantial price declines.
- The incomplete transparency about token locking and Pi Network burning procedures by the PiCoreTeam remains a major obstacle for Pi Network to gain trust from both Binance and its investors.
The newly-launched Vote to List program from Binance once more excluded the Pi token from its choices. The leading cryptocurrency exchange has declined to list Pi Network for a second time thus ending possibilities of near-term listing. The recent exchange announcement demonstrates Binance’s ongoing doubt about recognizing Pi Network while Pi supporters continue increasing their demand for better exchange options. Pi Network has experienced a major price deterioration which now stands as the most significant reduction recorded over the past month.
Pi Network Dips as Trading Volume Soars
Following Binance’s decision to exclude Pi Network from its listing vote,the token price has reached its lowest point since February 25 at $0.6325. The current downturn extends the broader price decrease for Pi Network that reduced its value by 6.56% since reaching its highest point.
When Pi Network experienced this setback the market responded dramatically through a 6.48% reduction in its market capitalization which currently stands at $4.39 billion. Trading activity rose significantly based on increased volume which reached $289.6 million at a 103.51% increase showing investor speculation about their future actions.
Pi Network Faces Listing Setback
Binance’s continued exclusion of Pi Network from its listing initiatives signals lingering concerns about the token. The exchange has yet to provide official reasons for halting PiCoreTeam token trading, but regulatory challenges, uncertainties surrounding the Mainnet launch, and liquidity concerns may be contributing factors. Additionally, the PiCoreTeam (PCT) has faced criticism for a lack of transparency regarding the locking and burning practices of Pi tokens.
Binance is seeking clearer disclosures before considering a listing, but so far, the PCT has yet to provide sufficient details. Without support from major exchanges like Binance, Pi Network faces an uphill battle in gaining wider adoption and boosting market confidence.
Binance’s Pi Controversy: Fear or Profit Play?
According to analyst MrSpockApe,he says that Binance is afraid of the demand Pi will bring thus, Citing the “enclosed network” excuse, they ignore the fact that Pi’s Open Network has already launched. Meanwhile, meme coins with zero real-world adoption get listed with ease.
Is Binance afraid of Pi’s real utility, or are they just waiting to maximize profits before listing? Many believe they’re stalling to position themselves advantageously while pretending to be “carefully considering” the decision. Either way, their hesitation is raising questions about their true motives and eroding trust within the crypto community.
