Pi Coin’s price has been fluctuating, reaching a high of $2.98 and then dropping to $0.50. Currently, it is trading at $0.63, down over 11%. One possible reason for Pi Coin’s struggle is its absence from major exchanges like Binance and Coinbase, which limits its visibility and trading volume.
According to a report by Bao Moi, Nguyễn Hà Minh Thông, the founder of Cabo Capital in Ho Chi Minh City, shared reasons why Binance has not listed Pi Token. The expert believes that without recognition from major exchanges, Pi will continue to face skepticism and struggle to achieve real market value.
Pi Network’s mainnet has been live since late 2024 but is still in an “enclosed” state where transactions are limited to its internal ecosystem. Binance prefers projects with fully open, public blockchains to ensure transparency and market stability.
The total supply of Pi is reportedly 100 billion tokens, but only about 6.8 billion are in circulation. The Pi Core Team has also reduced the supply by removing 10 million tokens without clear explanations, raising concerns about potential price manipulation. Binance requires clear data on token distribution to avoid risks.
Binance is facing regulatory pressure globally, especially in the U.S., where legal issues involving money laundering and financial compliance are taken seriously. Pi Network has not been officially recognized by any regulatory body. In Vietnam, cryptocurrencies are not legally recognized, and in China, Pi was flagged as a “multi-level marketing project.” Listing Pi could expose Binance to legal risks.
For a token to be listed on Binance, it needs strong liquidity and trading volume on major exchanges. Pi currently trades mainly through OTC channels like Telegram and small exchanges like OKX and HTX, which have unstable prices. Binance prefers tokens that have experienced real price discovery in open markets.
Pi Network has faced criticism for its high level of centralization, with the Pi Core Team controlling all mainnet nodes. This goes against the decentralization principle that major exchanges like Binance prioritize, as seen with Bitcoin and Ethereum.
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