The price of Pi Coin has certainly been a wild ride! We’ve seen it surge to a high of $2.98, only to dramatically fall back to around $0.50, which definitely surprised quite a few people. Currently, Pi is experiencing another dip, down over 11% and trading at $0.63. A significant factor weighing on Pi Coin seems to be its absence from major cryptocurrency exchanges like Binance and Coinbase. This lack of listing severely restricts how visible it is and how easily it can be traded.

As reported by Bao Moi, Nguyễn Hà Minh Thông, the founder of Cabo Capital located in Ho Chi Minh City, has offered some insights into why Binance hasn’t listed Pi Token yet. This expert points out that while the Pi community might believe they don’t necessarily need Binance, the reality is that without the validation from these big-name exchanges, Pi is likely to continue facing skepticism and struggle to establish genuine value in the market.

Limited Open Market Activity:

Even though Pi Network’s mainnet has been up and running since late 2024, it’s still operating in what’s called an “enclosed” state. Essentially, this means transactions are restricted to within the Pi Network itself. Binance, on the other hand, typically prefers projects with blockchains that are completely open and publicly accessible. This preference is all about ensuring transparency and overall market stability.

Unclear Tokenomics:

The total supply of Pi tokens is said to be a massive 100 billion, but only around 6.8 billion are actually circulating right now. Adding to the confusion, the Pi Core Team apparently reduced the supply by 10 million tokens, and they didn’t really explain why very clearly. This kind of action raises red flags about potential price manipulation. Binance, understandably, needs clear and solid data on how tokens are distributed to minimize any potential risks.

Regulatory Concerns:

It’s no secret that Binance is under a lot of scrutiny from regulators worldwide, particularly in places like the U.S., where issues around money laundering and staying compliant with financial regulations are taken very seriously. Pi Network hasn’t received official recognition from any regulatory bodies so far. Furthermore, in Vietnam, cryptocurrencies in general aren’t legally recognized, and in China, Pi was actually flagged as a “multi-level marketing project.” Listing Pi under these circumstances could expose Binance to significant legal headaches.

Lack of Liquidity and Market Activity:

For Binance to consider listing a token, it needs to see strong liquidity and active trading happening on major exchanges. Currently, Pi is mainly traded through less formal channels like Telegram and smaller exchanges (such as OKX and HTX), where prices can be quite unstable. Binance prefers tokens that have already demonstrated real price discovery through trading on truly open markets.

Centralization Issues:

Pi Network has faced criticism because it seems quite centralized. The Pi Core Team has control over all the mainnet nodes, which goes against the principle of decentralization that major exchanges like Binance usually prioritize. This focus on decentralization is something they value, as we’ve seen with established cryptocurrencies like Bitcoin and Ethereum.