儘管嗡嗡作響，但Pi Network的令牌學仍然不透明

Altcoin博士在對X的分析中指出，PI Network的標記學仍然不透明。他強調了平台的鎖定和燃燒機制的擔憂，說

Dr. Altcoin, a crypto analyst known for his X (formerly Twitter) analysis, has weighed in on why Pi Network's token has still not been listed on major exchanges despite its widespread popularity.

Altcoin博士是一位以其X（以前是Twitter）分析而聞名的加密分析師，他一直在考慮為什麼Pi Network的代幣仍未在主要交流中列出，儘管它廣泛流行。

In his analysis, Dr. Altcoin pointed out that the lack of transparency on the locking and burning mechanism for the billions of Pi coins owned by the Pi Core Team (PCT) is a key concern.

Altcoin博士在分析中指出，PI Core Team（PCT）擁有數十億個PI硬幣的鎖定和燃燒機制缺乏透明度是一個關鍵問題。

"I think the Pi Core Team has not been transparent enough about the locking and burning mechanism of the billions of Pi coins owned by the PCT," Dr. Altcoin stated.

Altcoin博士說：“我認為PI核心團隊對PCT擁有數十億個PI硬幣的鎖定和燃燒機制的鎖定和燃燒機制還不夠透明。”

This lack of clarity is crucial as regulatory concerns and investor protection are top priority for platforms like Binance and Bybit, two leading exchanges that have yet to list Pi.

缺乏明確性至關重要，因為監管問題和投資者的保護是Binance和Bybit等平台的重中之重，Binance和Bybit是兩個尚未列出PI的領先交易所。

"This lack of transparency is a key concern for exchange listing, especially with regulatory bodies increasing their focus on crypto in 2025," Dr. Altcoin added.

Altcoin博士補充說：“缺乏透明度是交換上市的關鍵問題，尤其是隨著監管機構在2025年增加對加密貨幣的關注。”

Another issue that’s hampering Pi Network’s listing is the recent decrease in its circulating supply. Currently, the total circulating supply of Pi is 6.77 billion, after removing 10 million coins. Dr. Altcoin thinks this might be price control before the upcoming token unlock.

妨礙PI網絡列表的另一個問題是其循環供應最近的下降。目前，刪除1000萬個硬幣後，PI的總循環供應為67.7億。 Altcoin博士認為，這可能是即將到來的令牌解鎖之前的價格控制。

Industry experts warns that without clear communication from the Pi Core Team, this move will be perceived as market manipulation.

行業專家警告說，如果沒有PI核心團隊的明確溝通，此舉將被視為市場操縱。

"The Pi Core Team should have communicated this move more effectively to avoid any ambiguity," an expert said.

一位專家說：“ PI Core團隊應該更有效地傳達這一舉動以避免任何歧義。”

Moreover, historical data shows that previous token unlocks triggered a price drop, and everyone is concerned about Pi’s stability as a tradable asset.

此外，歷史數據表明，以前的令牌解鎖觸發了價格下跌，每個人都擔心PI作為可交易資產的穩定性。

Key Observations:

關鍵觀察：

* Total Pi Supply: 6.77 billion (after recent removal of 10 million coins)

* PI總供應：67.7億（最近清除1000萬枚硬幣）

* Current Pi Price: $1 (down 66% from its all-time high of $2.98 in February)

*當前的PI價格：$ 1（比2月的2.98美元的歷史高處下跌66％）

* Previous Token Unlock Impact: Triggered a sharp decline in Pi’s market value

*以前的令牌解鎖影響：PI的市場價值急劇下降

Some investors support the supply reduction as a way to maintain price stability, while others argue that transparency is the issue preventing exchange listings.

一些投資者支持減少供應，以維持價格穩定性，而另一些投資者則認為透明度是阻止交換清單的問題。