The world’s largest cryptocurrency exchange by trading volume, Binance, triggered renewed speculations regarding Pi Coin after it updated its token listing guidelines.
The streamlined, more transparent criteria have led many to suspect that Pi is about to be listed on the world’s largest crypto trading exchange.
Binance overhauls the listing process with new structured paths for digital assets
Binance recently announced they were changing their listing process when adding digital assets. The exchange has now divided its new listing procedure into three main paths – Alpha, Futures, and Spot – each type has a different set of requirements.
This structured model heavily emphasizes factors such as user adoption, tokenomics, technical security, and trading profile. The goal is to ensure that only trusted, secure, scalable tokens are onboarded.
Binance Alpha is an early access path for projects in development. To be considered, a project needs to show proven utility and ongoing development, have an established user base, and be capable of token distribution. Red flags are raised by tokens that insiders overwhelmingly hold.
Full technical and compliance verifications are necessary as well. Binance scrutinizes project teams for regulatory red flags like sanctions or financial chicanery and carries out technical reviews to catch bugs and past security breaches.
For existing assets trading elsewhere (e.g., BitMart, other exchanges), selecting assets to add onto the Futures and Spot trading platform will also need to satisfy Binance’s standards of trading volume, liquidity, market cap, and price stability before listing.
These clearer standards are intended to create simpler, more predictable processes for developers and communities as they consider what listings should look like in the future.
Pi Coin gains momentum with strong community support and regulatory progress
Pi Coin was recently overwhelmingly voted for in a Binance community vote, with nearly 295,000 voters voting for the listing, or around 86%. While not a formal endorsement, the poll indicated how well-liked Pi is in the community.
The Pi Coin, on the other hand, has also been in the news lately as Crypto analyst Dr. Altcoin tweeted that Pi Coin has been back on trading on BitMart after a one-month suspension over Know Your Business (KYB) compliance risks. The return of the token signifies a step toward regulatory conformity, which is an integral part of Binance’s revised list of conditions.
With a powerful community and rising visibility, Pi’s moves to meet compliance might increase the possibility of it passing Binance’s review.
CoinMarketCap said Pi Coin traded at $0.6470 at press time, reflecting a 0.52% dip over the previous 24 hours. Despite ongoing market volatility and difficulty maintaining a price above $1, Pi appears to stabilize as investor interest picks up.
Dr. Altcoin revealed that the Pi Network team has been buying coins from crypto exchanges to help reduce the selling pressure on the token. So far, the team has allegedly used a sub-wallet to buy over 48 million coins from these exchanges.
Meanwhile, the team has also made progress in the ecosystem to help drive the token’s utility. The expert revealed that they recently approved the decentralized application FruityPi. He also mentioned that the team could approve other dApps soon.
Amid these developments, analysts like Moon Jeff say that the Pi coin price could rally to as high as $5, marking a new all-time high.
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