After recently hitting a record low, the price of Pi has remained stable between $0.60 and $0.65. Even though volatility has decreased, there are no signs of a strong recovery so far. Meanwhile, news related to Banxa and Binance is causing both hope and concern for Pi Coin investors. Let’s understand in detail.
Banxa temporarily halts Pi Coin transactions
Crypto payment platform Banxa has recently halted the transactions of Pi Network’s Token Pi. According to reports, this step has been taken due to their “Know Your Business” (KYB) approval process. Banxa, which bought millions of Pi Coin at cheap prices, may reactivate this service after KYB approval and a better price level. This ban has created a state of confusion for Pi Coin users. It is worth noting that this ban has been imposed when there have been recent changes in the Pi Mining Mechanism.
Expectations increased regarding listing on Binance
Two months ago, Pi Network won Binance’s community vote by a huge margin, raising hopes of a listing. But so far Binance has not listed Pi Coin. But on April 25, Binance released its new listing guidelines, which have again sparked speculation. The new rules place special emphasis on the project’s strong fundamentals, user adoption, tokenomics, team credibility, and regulatory compliance. For tokens that already have circulation, special importance will be given to trading volume, liquidity, and market performance.
Blockchain integration becomes the biggest challenge
Pi Network’s biggest hurdle is that its token is not active on any of the four major blockchains supported by Binance: BNB Chain, Solana, Base, and Ethereum. Until Pi Coin migrates to one of these networks or announces a clear timeline, a listing on Binance will remain difficult. Technical integration and strong on-chain activity will be crucial for a successful listing.
While Pi Network has achieved some major milestones in recent months, market volatility and technical challenges make its future uncertain. Banxa’s temporary break and Binance’s strict new guidelines pose new hurdles for Pi Coin. Until the Pi Team addresses these challenges and prioritizes blockchain integration, it is too early to expect a strong recovery or a listing on a major exchange.