Transparency Issues Delay Pi Network's Listing on Binance and Bybit

Despite its popularity, Pi remains absent from top-tier platforms like Binance and Bybit.

Crypto analyst Dr. Altcoin has weighed in on the ongoing saga of Pi Network's lack of listing on major exchanges despite its massive user base and anticipation among the community.

While discussing the absence of the token on top-tier platforms like Binance and Bybit, the analyst pointed to a major reason for the delay—transparency issues within the Pi Core Team.

I now better understand why Pi is not listed on major exchanges such as Binance and Coinbase. It is likely that 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. Without…

Lack of Transparency Delays Pi’s Listing

According to Dr. Altcoin, the biggest hurdle preventing Pi Network from securing a place on major exchanges is the project's lack of transparency, particularly concerning its tokenomics.

The analyst claimed that the Pi Core Team hasn’t been forthcoming about the locking and burning mechanisms for billions of Pi tokens still held by the team. Without a clear framework, exchanges may view Pi as carrying too much risk.

Recently, the circulating supply of Pi dropped to 6.77 billion after 10 million coins were removed, which Dr. Altcoin believes was an attempt to control prices ahead of a token unlock.

However, without transparency, such actions could invite scrutiny and rumors of price manipulation, which may be deterring Binance and other exchanges from listing Pi.

Refusing to Pay for Listings?

On the other hand, some Pi Network supporters believe that the delay isn't about transparency but rather the team's refusal to pay listing fees.

Many projects spend millions of dollars to secure a spot on major exchanges, but Pi's developers are reportedly unwilling to pay, which naturally slows down the listing process.

Currently, Pi Network is trading at $1, having plummeted 66% from its all-time high of $2.98 in February. It also dropped 34% over the past week and fell to 25th place on CoinGecko amid concerns arising from Bybit's CEO labeling it a scam.

As rumors swirl about Binance preparing to list Pi Network, which could push prices higher, the lack of transparency from the Pi Core Team is hindering the process.

Unless the team improves communication or considers paying for a listing, the wait for mainstream exchange support may continue.

In an attempt to regain stability, Pi Network announced a partnership with PiDaoSwap, a community-driven project that aims to foster transparency and cooperation in the DeFi ecosystem. This move briefly propelled PI's price up by 7%.

However, despite this collaboration, PI faces an uphill battle to change market sentiment, especially given Bybit's CEO, Ben Zhou, openly refused to list the token due to its controversial nature and the potential for investor backlash.

While Zhou went as far as to call Pi a scam, its legitimacy remains a subject of debate. Transparency issues and delays in exchange listings have fueled skepticism among investors.