Binance's "Vote to List" Event Excludes Pi Network (PI) Token for a Second Time

Binance's second Vote to List event features 12 tokens focused on utility across gaming, finance, and Web3 – a shift from the earlier edition's memecoin focus. Despite this change, Pi Network was again omitted, frustrating its community.

Disappointment struck again as Binance’s latest "Vote to List" initiative excluded Pi Network for a second consecutive time. This instance saw 12 tokens, including AnChain.CC and Arise, being included in the initiative. However, despite widespread discussion of Pi Network within grassroots crypto communities, its absence raised concerns about the project’s visibility and progress as other projects gained traction.

While Binance had previously stated in March that only projects accepting BNB would be included, already excluding Pi, the exchange is now reportedly considering not just votes but also trading volume, risk assessments, and compliance clarity. This aligns with the exchange’s focus on sustainable projects and its efforts to navigate a complex regulatory landscape.

However, this time around, broader concerns about the project’s communication with exchanges and regulators were highlighted. Moreover, Binance expressed skepticism towards explanations regarding token locking and burning mechanisms within Pi’s tokenomics.

This follows Pi Network’s listing on platforms like BTCC Exchange. However, its absence from Binance, one of the largest cryptocurrency exchanges, continues to impact its perceived credibility. The silence from the PiCoreTeam on these matters further fuels skepticism, with community members demanding more transparency and clearer timelines.

The market reacted swiftly to the Binance news. Pi’s price dropped to around $0.6285, an 8.01% decrease in 24 hours. This follows a brief rally that saw Pi’s price peak near $0.6833 after failing to hold support levels around $0.6700 and $0.6600.

Current support appears between $0.6200 and $0.6250, with a break below this level potentially triggering further losses. Notably, 24-hour trading volume spiked over 112% to reach approximately $303 million, suggesting either panic selling or significant buying interest at lower levels. The coin’s market cap also saw a 7.83% drop, reflecting the broader investor caution.