Despite Community Demand, Pi Network (PI) Remains Unlisted on Binance and Coinbase

A crypto analyst has proposed a theory explaining why Pi Network (PI) remains unlisted on major exchanges such as Binance and Coinbase.

A crypto analyst has offered an interesting theory as to why Pi Network (PI) is yet to be listed on major exchanges such as Binance and Coinbase.

As reported by BeInCrypto, there has been huge demand for Pi listing on these exchanges, especially Binance. However, it remains unlisted on any of the top exchanges.

Analyst: Transparency Gaps Could Be Hindering Binance Listing

Dr. Altcoin, an analyst on X, suggests that the delayed listing of Pi coin could be attributed to a lack of transparency from the Pi Core Team.

Specifically, the opaque nature of Pi Network’s locking and burning mechanisms of billions of Pi coins may be the primary reason for the continued absence of a listing.

“I now better understand why Pi is not listed on major exchanges such as Binance and Coinbase. Likely, the Pi Core Team has not been transparent enough about the locking and burning mechanism involving the billions of Pi coins currently owned by the PCT,” Dr Altcoin opined.

The analyst had previously noted that the circulating supply of Pi coins decreased by another 10 million to 6.77 billion. In their view, this suggests that the Pi Network core team could be adjusting the supply to stabilize prices.

“The last time a large number of Pi coins were unlocked, it sent the wrong signal and caused panic selling. However, the PCT [Pi Core Team] still needs to be transparent about the Pi burning mechanism and its plans for locking the majority of Pi coins owned by the PCT,” he added.

According to Dr. Altcoin, the lack of transparency makes it easy to misconstrue this as potential plans for market manipulation.

He further suggested that Pi Network could gain listings once the Pi Core team improves transparency and most community-held coins are traded for under $1.

This speculation comes amid recent concerns about Pi Network’s centralization issues, particularly concerning SuperNodes. As reported by BeInCrypto, there are worries about network control and governance transparency. These factors could further delay Pi’s acceptance by top-tier exchanges like Binance and Coinbase.

Pi Network Community Demand Faces Roadblock

Despite these concerns, Pi Network continues to enjoy massive community support.

The project recently surpassed 4 million followers on social media, showcasing the strength of its user base.

Moreover, a Binance survey saw 86% of participants voting for Pi to be listed on the exchange. However, Binance has yet to take any action, sparking controversy.

Despite the vote to list Pi Network on Binance receiving massive support, it remains unlisted, leading to frustration among its supporters.

The vote to list Pi Network on Binance comes amid the exchange’s move to involve the community more in its listing and delisting actions.

Additionally, Pi Network is preparing for another token unlock in April, following the release of 188 million tokens in March. These unlocks have sparked fears of price manipulation, especially with the lack of clarity on how PCT handles locked and burned coins.

According to data on ExplorerPi, Pi Network will unlock over 91.9 million Pi tokens in April. At press time prices on CoinGecko, this volume of Pi coins is valued at approximately $83 million.

Citing Keyrock research, BeInCrypto recently noted that 90% of token unlocks drive prices down. Therefore, for Pi Network, a token unlock of this magnitude could impact the price of the Pi coin.