Pi Network (PI) Cryptocurrency Price Drops 28% Since Open Mainnet Launch, Dipping to a Daily Low of $0.856

Pi Network's native cryptocurrency, PI coin, has experienced significant volatility since its Open Mainnet launch on February 20, 2025.

(CoinChapter.com) – Pi Network’s native cryptocurrency, PI coin, has seen plenty of ups and downs since the Open Mainnet launch on February 20, 2025.

Initially listed at around $1.45, PI surged over 35% in the first hour of trading, reaching a peak of $2.10, before plunging to a low of $1.01 within a few hours.

This wild price action, saw PI coin lose almost all its early gains, and had investors and enthusiasts questioning what’s next for the token.

Amid this turbulence, speculation about Pi Network’s cryptocurrency being listed on major exchanges, grew rapidly, especially regarding Binance’s “Vote to List” campaign.

Pi supporters went all out, rallying behind PI coin, which secured around 86–88% approval by the time the voting window closed on Feb. 27.

To many users, this overwhelming turnout seemed to bode well for a listing on the world’s largest crypto exchange. But as results rolled out, and PI coin was notably absent from the finalist list, the backlash began in full force.

Angry posts flooded X (formerly Twitter), accusing Binance of favoritism and hypocrisy for selecting memecoins like BANANAS31 and KOMA over PI coin.

However, a closer look at the campaign’s requirements—and Pi Network’s limitations—suggests the real reason lies in a simple technicality that Pi fans chose to ignore.

Despite the evident enthusiasm among Pi Network supporters, who managed to grant PI coin an impressive 86–88% approval in Binance’s “Vote to List” campaign, the token ultimately didn’t make the cut for a listing on the exchange.

This result sparked frustration among Pi Network enthusiasts, who felt that the overwhelming support from the community should have been enough to secure a spot for PI coin.

Many users took to X (formerly Twitter) to express their disappointment and anger over Binance allegedly breaking its promise to list the token based on popular vote.

However, a closer look at the campaign’s stipulations reveals that community votes are advisory and do not override the exchange’s internal procedures.

Binance’s “Vote to List” campaign operates under specific technical requirements, chief among them being that participating projects must be built on the BNB Smart Chain (BSC).

Pi Network, however, functions on its proprietary blockchain, rendering it incompatible with this particular campaign.

Despite the token’s widespread popularity, which is evident in the high approval rate and the fact that PI coin secured the most votes among all listed projects, its fundamental incompatibility with BSC disqualified it from consideration.

The technical stipulation takes precedence over community sentiment, and the exchange has consistently maintained that the final decision to list a token is based on a comprehensive internal review process.

This assessment considers factors such as security, liquidity, regulatory compliance, and strategic alignment with Binance’s ecosystem.

Pi Network’s lack of open-source code, undeployed smart contract functionality, and referral-based mining model—which has drawn comparisons to pyramid schemes—are issues that an exchange operating under stringent regulatory scrutiny cannot easily overlock.

Moreover, the selection of tokens like BANANAS31 and KOMA, while some might perceive them as less serious contenders, highlights Binance’s focus on ecosystem compatibility.

These tokens are natively built on BSC and meet all technical requirements set forth by the campaign.

Ultimately, the decision to exclude PI coin was not a matter of bias but a straightforward adherence to predefined criteria.

Pi Network supporters’ failure to acknowledge these technicalities has led to misplaced blame on Binance for the listing outcome.

At present, Pi Network’s structural and operational shortcomings preclude its participation in certain initiatives, such as the “Vote to List” campaign.

The responsibility lies with Pi Network to address these issues and align with the broader cryptocurrency ecosystem’s evolving expectations and requirements.