What Happened?
An analyst named Kim Wong explained why Binance hasn’t listed the PI coin despite strong community support. The listing hasn’t happened because of three main reasons: PI Network’s blockchain isn’t fully open-sourced, lacks a third-party security audit, and there may be no formal application for listing. These issues create significant barriers for the PI coin to be featured on major exchanges like Binance or Coinbase.
Who Does This Affect?
This situation affects PI Network users and potential investors who are hoping for the coin’s listing to increase its market value and accessibility. Cryptocurrency traders looking for new opportunities on major platforms like Binance are also impacted as they might have been anticipating new trading options. Exchanges like Binance and Coinbase are involved too, as they need to ensure their platforms maintain security and trust by only listing coins that meet their listing criteria.
Why Does This Matter?
Market impact arises because a Binance listing could help stabilize PI coin prices by increasing demand and balancing out token unlocks. Currently, PI coin is facing deflationary pressures due to extensive speculative trading and an average daily release of $6.48 million in tokens. Without the listing, PI coin remains vulnerable to price volatility and struggles to gain traction in the broader altcoin market.