Pi Coin’s price has been on a rollercoaster—rising to $2.98 before crashing down to $0.50, leaving many surprised. As of now, Pi is down over 11% and trading at $0.63. One reason for Pi Coin’s struggle could be its absence from major exchanges like Binance and Coinbase, which limits its visibility and trading volume.
As reported by Bao Moi, Nguyễn Hà Minh Thông, founder of Cabo Capital in Ho Chi Minh City, has shared reasons on why Binance has yet to list Pi Token. The expert said that while the Pi community might believe the project doesn’t need Binance, without recognition from major exchanges, Pi will continue to face skepticism and struggle to achieve real market value.
Limited Open Market Activity:
Pi Network’s mainnet has been live since late 2024, but it remains in an “enclosed” state, meaning transactions are limited to its internal ecosystem. Binance prefers projects with fully open, public blockchains to ensure transparency and market stability.
Unclear Tokenomics:
The total supply of Pi is reportedly 100 billion tokens, but only about 6.8 billion are in circulation. The Pi Core Team has also reduced the supply by removing 10 million tokens without clear explanations, raising concerns about potential price manipulation. Binance requires clear data on token distribution to avoid risks.
Regulatory Concerns:
Binance is under regulatory pressure globally, especially in the U.S., where legal issues around money laundering and financial compliance are serious. Pi Network has not been officially recognized by any regulatory body. In Vietnam, cryptocurrencies aren’t legally recognized, and in China, Pi was flagged as a “multi-level marketing project.” Listing Pi could expose Binance to legal risks.
Lack of Liquidity and Market Activity:
For a token to be listed on Binance, it needs strong liquidity and trading volume on major exchanges. Pi currently trades mainly through OTC channels like Telegram and small exchanges (e.g., OKX, HTX) with unstable prices. Binance prefers tokens that have experienced real price discovery in open markets.
Centralization Issues:
Pi Network has faced criticism for its high level of centralization, with the Pi Core Team controlling all mainnet nodes. This contradicts the decentralization principle that major exchanges like Binance prioritize, as seen with Bitcoin and Ethereum.
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