- Binance’s new listing rules emphasize transparency and community support.
- Pi Network resolves KYB issues, resuming trading on BitMart.
With its new token listing framework in place, Binance has stoked fresh rumours regarding a possible entry of Pi Coin in its portfolio. Recently announced, the updated guidelines highlight transparency, regulatory compliance, as well as community support – all of which are criteria that Pi Coin has been pursuing. However, the crypto community can’t help but hype up as Pi Coin’s price consolidates around $0.65.
The renewed interest in Pi Coin, the native token of the Pi Network, comes after Binance’s rule changes on which tokens to list. The new framework defines clear benchmarks for projects planning to be listed on the Alpha, Futures, or Spot Trading platform on the exchange. Examples of these are team credibility, liquidity, and observing regulatory standards. Such requirements have been met by Pi Coin’s team, thus increasing its chances.
Pi Coin’s Momentum Propelled Through Community Support.
Over two hundred and ninety-five percent of the more than 295,000 people who participated in a February poll on Binance’s Square platform wanted Pi Coin listed. Binance also noted in a recent announcement that the community’s voice is a key factor in its listing decision, as it also highlights the community’s demand. The strong support of Pi Coin indeed gives it an edge under the revised criteria of the exchange.
This has further added to Pi Network’s case, given its focus on compliance. Know Your Business (KYB) issues were recently resolved by the project, and trading has resumed on exchanges such as BitMart following a brief suspension. In line with Binance’s focus on projects that have legal and operational transparency, this sets the stage towards regulatory compliance.
Currently, the price of Pi Coin has stabilized at around $0.65 above a rising trendline since early April. According to market data from CoinMarketCap, the token is undergoing consolidation with breakout potential, as per listing speculations and community participation, the source added. Yet, trading is restricted to smaller platforms such as OKX and HTX, where its prices are speculative IOU contracts rather than transferable coins.
Listing Challenges and Future Prospects
However, there are still hurdles for Pi Coin’s Binance listing. The mainnet of the token is not fully open, which gives rise to decentralization concerns. According to Binance’s requirements, projects must have solid liquidity and trading volume, both of which Pi Coin lacks, because it is still being traded in a closed environment. Furthermore, the Pi Core Team’s reduction ofthe 10 million token supply, without an adequate explanation, has raised some transparency issues.
Binance has not confirmed a Pi Coin listing, stating that decisions hinge on meeting “stringent standards for safety and quality.” The new listing process of the exchange is designed to be fair, while there are three separate paths for projects to qualify for approval. Pi Coin has the community support and is making compliance efforts to be a serious contender, but it must tackle the issues of centralization and liquidity to find a place.
