One reason why the Pi Network price has plummeted since its mainnet launch is that tier-1 exchange listings have remained elusive. It is only listed by the exchanges like BitMart, OKX, MEXC, and Gate. This article explores why top exchanges like Coinbase, Upbit, and Binance have not listed it.
Why Top Exchanges Have Not Listed Pi Network
In theory, Pi Network is one of the best cryptocurrencies to list. It is a highly popular cryptocurrency with millions of users globally. At its peak, it had over 60 million pioneers actively “mining” it from its native mobile app. Currently, over 14 million users have already migrated to the mainnet.
Also, Pi Network is one of the biggest cryptocurrencies in the industry. It has a market capitalization of over $3 billion, ranking as the 38th largest coin, and a fully diluted valuation of nearly $40 billion.
There are three main possible reasons why big exchanges have not listed the Pi Network token. First, they are likely concerned about Pi Network’s centralization since it is controlled by an obscure organization known as Pi Foundation.
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Not much is known about the foundation, which now holds over 90 billion tokens and is not audited. As such, listing it carries a risk of market manipulation or a hack.
However, it is worth noting that these exchanges have also listed other centralized tokens before, like Official Trump (TRUMP), which is controlled by Donald Trump and his entities.
Another possible reason why the Pi Network is not listed is that the developers may have opted not to pay listing fees to exchanges. It is estimated that top-tier 1 exchanges charge as much as $1 million to list tokens, while tier-2 exchanges charge between $50k and $250k.
Additionally, there is the lingering concern that Pi Network is a scam. While these concerns have been there for years, they were magnified by Ben Zhou, Bybit’s CEO, in February.
Will the Pi Coin Ever be Listed?
Recent predictions on when the Pi Network will be listed have not worked out well, as exchanges have avoided it. However, it is clear that there is a possibility of a listing happening either this year or in the future.
Historically, crypto exchanges don’t announce in advance when they will list a token. In most cases, the announcement and the listing happen on the same day.
The Pi Network price would likely surge by over 100% when it is listed by a major cryptocurrency exchange. For example, less popular tokens like Succinct and Orca jumped sharply after their listings. Some of these listings tend to be short-lived.
What Next for the Pi Network Price?
The daily chart shows that the Pi coin price has been in a strong downtrend in the past few months.
It formed a double-bottom pattern at $0.40 and a falling wedge, which often leads to a breakout. The two lines of this pattern have neared their confluence, meaning that a bullish breakout is about to happen.
The next key resistance level to watch will be at $1, which is up by 155% from the current level. A move below the support at $0.3198 will invalidate the bullish Pi forecast.
