Despite becoming popular, PI Network is still not present on major cryptocurrency exchanges like Binance, Coinbase, and Bybit. Listing on these platforms could provide a strong impetus for PI’s value, enhance its credibility, and expand its market reach.
However, the waiting process continues, primarily due to transparency issues from the Pi Core Team.
Lack of Transparency Hinders Listing Process
The biggest barrier preventing PI Network from appearing on major exchanges is the lack of transparency, particularly concerning the project’s tokenomics mechanism.
The Pi Core Team has not clearly disclosed the locking and burning mechanisms for the billions of PI tokens under their control. Without a transparent roadmap, exchanges may view PI as a high-risk asset.
Due to the lack of transparency, such actions could raise concerns about potential price manipulation, which may explain why Binance and other major exchanges remain hesitant.
Related: Pi Network Price Drops 17%: Reasons Behind the Decline of Pi Coin
Listing Fee Issues?
In addition to the lack of transparency, another reason could be the Pi Core Team’s refusal to pay listing fees.
Many cryptocurrency projects are willing to spend millions of dollars to secure a position on top exchanges. However, it is reported that the developers of PI are waiting for the opportunity for a free listing, which of course requires significantly more time.
Currently, Pi Network (PI) is trading at below $1, down nearly 70% from its historical peak of $2.98 in February. In the past week, the price has dropped by 34% and fallen to 27th place in the market capitalization rankings. The trading volume is now just over $200 million, a significant decrease from early March.
