Why Binance Rejected Pi Coin Listing

Pi Coin, the cryptocurrency of Pi Network, has suffered a major setback as Binance, one of the world’s largest crypto exchanges, officially declined to list it.

This decision has sparked discussions among crypto enthusiasts, especially Pi supporters who were hoping for wider adoption.

According to Ceo Crypto25, a well-known trader and crypto analyst, Binance rejected Pi Coin for several key reasons:

Pi Network’s Mainnet Is Still Closed
Unlike Bitcoin and Ethereum, which operate on fully decentralized and open networks, Pi Network remains in a restricted phase. Transactions only take place within a controlled environment, which is a major concern for Binance.

Regulatory Compliance Issues
Binance follows strict regulatory guidelines when adding new cryptocurrencies. Pi Coin has faced legal and compliance challenges in multiple jurisdictions, making its approval difficult. Without clear regulatory backing, Binance is hesitant to support it.

Concerns Over Centralization
Pi Network’s developers still control a significant part of the project, unlike decentralized blockchain projects. This raises concerns about the coin’s independence and long-term viability. Binance prefers listing coins that are not controlled by a single entity.

Lack of Liquidity
For a cryptocurrency to be listed on Binance, it must have a strong market presence and sufficient liquidity. Since Pi Coin is still in its enclosed mainnet phase, it cannot be freely traded on decentralized exchanges. This makes it less attractive for Binance.

Large Community, But Not Enough Listing Criteria
Although Pi Network has millions of users mining Pi Coins on their mobile phones, a large user base alone is not enough to secure a Binance listing. The coin must meet specific technical and financial standards, which it currently lacks.

Despite the rejection, crypto analyst Kim H Wong believes Binance is still interested in listing Pi. He stated, “Binance is definitely losing trading volume and revenue by not listing Pi since the average 24-hour trading volume for Pi is around $500 million. Binance ran a poll, and 86% of people supported listing Pi. Binance for sure is eager to list Pi too, however, they risk losing fan trust because they can’t shake off their unmentionable problems only they know.”

For now, Pi supporters will have to wait and see if Binance reconsiders its decision in the future.
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