Pi Network Update, What’s Next for Investors as Pi Price Plummets?

Andrew Chen
Pi-network (PI)

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Pi Network supporters have been dealt another blow as Binance once again skipped the token in its latest Vote to List initiative. This marks the second time the world’s largest crypto exchange has overlooked Pi, dashing hopes for an imminent listing. As a result, Pi’s price has plummeted to its lowest level in over a month, fueling concerns about its future.

Pi Network Price Tumbles Amid Binance’s Rejection

Following Binance’s exclusion, Pi Network’s price has plunged to $0.7012, marking its lowest point since February 25. The token has now lost 76% of its all-time high value, wiping out nearly $14 billion from its market capitalization. Once valued at approximately $20 billion, Pi’s valuation has now shrunk to just $4.76 billion, raising investor anxiety over its long-term prospects.

Why Binance Keeps Ignoring Pi

Binance recently launched Phase 2 of its Vote to List program, featuring 12 tokens such as Virtual, BigTime, Ondo, and UXLink. Binance selects tokens based on community votes, trading demand, risk assessments, and compliance checks.

However, Pi Network failed to make the cut due to two major reasons:

  1. Ineligibility for Binance’s Listing Criteria: Binance’s voting program is restricted to BNB-based projects, automatically disqualifying Pi, which does not operate on Binance’s blockchain.
  2. Lack of Transparency: Binance has raised concerns about how Pi tokens are locked and burned, stating that clear disclosures are necessary before considering a listing. So far, the PiCoreTeam has failed to provide sufficient details to satisfy these requirements.

Can Pi Still Get Listed on Binance?

Despite this setback, Pi Network still has a chance of securing a listing through a direct application process. However, Binance has not provided any timeline, leaving the Pi community in limbo.

On a positive note, Pi Network has recently been listed on BTCC Exchange, marking a step toward broader adoption. Additionally, its domain auction event has seen over 200,000 bids, demonstrating continued engagement from its supporters.

Crypto researcher Selçuk Topal, Ph.D., has criticized Binance for promoting meme coins while ignoring research-driven projects like Pi Network. He questioned Binance’s commitment to community-driven innovation, stating:

“If Binance cared about community, it would’ve listed Pi Network. If it valued innovation, it wouldn’t back meme coins with liquidity gifts.”

Additionally, Topal raised concerns about Binance’s SAFU fund, suggesting inconsistencies in its investor protection policies.

Pi’s price has dropped another 5% in the past 24 hours, now struggling to stay above $0.6646. With Binance remaining hesitant and Pi’s value declining, the pressure is mounting on the PiCoreTeam to enhance transparency and push for listings on top-tier exchanges.

Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.

Also Read: Pi Network Under Fire: Is Pi Coin Price on a Crash Course to Zero?

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