- Pi Network excluded from Binance ‘Vote to List’ for second time on transparency concerns
- Binance criteria shift, opaque Pi tokenomics cited as reasons for latest snub
- Pi price drops ~8% on news, volume spikes >100% amid investor uncertainty
Pi Network faced disappointment again as Binance’s latest “Vote to List” event excluded the token for a second consecutive time, raising concerns about the PiCoreTeam’s visibility and progress as other projects gained traction.
While Pi Network remains widely discussed within grassroots crypto communities, its continued absence from Binance’s listing initiatives signals the exchange’s ongoing concerns regarding the project’s compliance and transparency.
Binance Criteria, Pi Tokenomics Cited as Hurdles
Binance’s second Vote to List event features 12 tokens focused on utility across gaming, finance, and Web3 – a shift from the earlier edition’s memecoin focus. Despite this change, Pi Network was again omitted, frustrating its community. Binance now reportedly considers not just votes but also trading volume, risk assessments, and compliance clarity.
Related: Pi Network Price Plunge: What’s With the Pi Coin’s Wild Price Swings?
Pi Network’s exclusion reportedly stems partly from its opaque tokenomics, with Binance remaining unconvinced by explanations regarding token locking and burning mechanisms. Binance had previously stated in March that only projects accepting BNB would be included (already excluding Pi), but this time, broader concerns about the project’s communication with exchanges and regulators were highlighted.
While Pi has achieved listing on platforms like BTCC Exchange, its absence from Binance continues to impact perceived credibility. The silence from the PiCoreTeam on these matters further fuels skepticism, with community members demanding more transparency and clearer timelines.
Market Reacts Negatively to Pi Coin Exclusion
The market reacted swiftly to the Binance news. Pi’s price dropped to around $0.6285, an 8.01% decline in 24 hours, following a brief rally that peaked near $0.6833. The asset subsequently failed to hold support levels around $0.6700 and $0.6600.
Related: Pi Network (PI) Price Crash: Token Unlock and Binance Uncertainty Weigh Heavy
Current support appears between $0.6200 and $0.6250; a break below this level could trigger further losses. Notably, 24-hour trading volume spiked over 112% to reach approximately $303 million, suggesting either panic selling or significant buying interest at lower levels. The concurrent 7.83% drop in market cap mirrors the price decline, revealing broader investor caution.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
