The eagerly anticipated “Vote to List” event by Binance has left the Pi Network once again off the list, creating uncertainty and disappointment among cryptocurrency followers and participants.
According to Binance’s announcement, a total of 12 different tokens were presented for community voting, but Pi Network was notably absent from this list. This development has reignited questions regarding Pi Network’s transparency and Binance’s listing criteria.
Critical Criteria Used by Binance for Token Selection
When determining which tokens to present for community voting in the Vote to List program, Binance considers essential factors like trading volume, risk assessment, and regulatory compliance. Among the tokens put up for voting were VIRTUAL, BIGTIME, UXLINK, MORPHO, GRASS, ATH, WAL, SAFE, ZETA, IP, ONDO, and PLUME. Projects that succeed in the voting process will move directly into the listing phase and trade on Binance.
Due to criteria like trading volume and risk assessment, some projects may not pass Binance’s evaluation process, even if they are popular among the community. Officials from Binance emphasize in their statements that listing decisions are made after meticulous reviews.
Transparency Debates Intensify Regarding Pi Network
Pi Network’s exclusion has resurfaced allegations about its long-debated lack of transparency. Experts from the cryptocurrency sector argue that Pi Network’s failure to provide adequate information about its locking and burning mechanisms is a significant shortcoming. It is believed that Binance’s decision to exclude Pi Network stems from this uncertainty.
On the other hand, Pi Network seems to be progressing with a different strategy. Recently, its token was successfully listed on the BTCC Exchange, which may be viewed as a positive step for future listings on Binance or other major platforms.
Notable Decline in Pi Network Price
The absence of Pi Network from Binance’s listing event has also impacted its price performance. Over the last 24 hours, Pi Network’s token has decreased by about 5%, falling below the $0.70 mark. This decline indicates a shift in market dynamics and a decrease in investor interest.