Pi Network Community Members Are Puzzled by the Decision of Top Cryptocurrency Exchanges Not to List the Asset

Pi Network's community members are puzzled by the decision of top cryptocurrency exchanges not to list the asset. However, one crypto expert has waded in to explain the delay

Crypto traders and investors are used to seeing new tokens launch with a frenzy of activity, but Pi Network has taken a more leisurely pace, leaving some community members perplexed.

Crypto traders and investors are used to seeing new tokens launch with a frenzy of activity, but Pi Network has taken a more leisurely pace, leaving some community members perplexed.

Now, one crypto expert has waded in to explain the delay behind a potential listing, citing a dire lack of transparency by the Pi Core Team.

Pseudonymous crypto analyst Dr. Altcoin has explained the reason behind Pi Network’s absence on top cryptocurrency exchanges. According to a post on X, Dr Altcoin noted that the reason may be a lack of transparency by the Pi Core Team.

The transparency issue stems from Pi Network’s tokenomics, highlighting a deficiency in information regarding the locking and burning mechanism for the billions of Pi coins currently held by the PCT.

“It is likely that the Pi Core Team has not been transparent enough about the locking and burning mechanism involving the billions of Pi coins currently owned by the PCT,” read the post.

At the moment, Pi Network is not listed on centralized exchanges like Binance, Coinbase (NASDAQ:COIN), and Coinbase Global (NASDAQ:COIN). While rumors of an imminent listing are swirling, Binance excluded the asset from its Vote To List program.

A closer look at Pi Network’s tokenomics shows that its circulating supply has decreased to 6.77 billion. The Pi Core Team removed 10 million coins from circulation in what Dr. Altcoin described as an attempt at price control ahead of a token unlock.

“Without transparency, this could easily be misconstrued as potential plans for market manipulation, as we have seen indications of this in recent days,” said Dr Altcoin.

A previous token unlock saw prices plummet to new lows but a burn roadmap is in development for the network. Experts say burning Pi Network tokens will prevent a steep drop in prices.

However, some community members disagree with Dr Altcoin’s theory of a lack of transparency. They say the delay stems from the Pi Core Team refusing to pay exchanges for a listing. According to these members, the Pi Core Team is seeking a free listing from exchanges, taking the longer route.

Pi is currently trading at $1 and is down 66% from its all-time high of $2.98 that it set in February.