TLDR
- Binance excluded Pi Network (PI) from its second “Vote to List” initiative, focusing instead on 12 utility tokens
- Pi Network’s price dropped below $0.70, falling to $0.6646 with a nearly 5% decline
- Trading volume has significantly decreased within the Pi ecosystem
- The Pi Core Team faces criticism for communication issues and predictable updates
- Despite hosting PiFest with 125,000 sellers and 1.8 million Pioneers, community sentiment remains negative
Pi Network (PI) has been excluded from Binance’s second “Vote to List” initiative, marking another setback for the cryptocurrency as its price dropped below $0.70. This comes amid growing criticism from the Pi community regarding transparency and communication from the project’s leadership team.
Binance announced its second iteration of the Vote to List program, which allows community members to vote on which tokens should be listed on the exchange. Despite hopes from Pi Network supporters, the cryptocurrency was not included among the 12 tokens selected for the voting process.
The tokens that made the cut include VIRTUAL, BIGTIME, UXLINK, MORPHO, GRASS, ATH, WAL, SAFE, ZETA, IP, ONDO, and PLUME. According to Binance, this second round focuses on utility tokens across various sectors, in contrast to the first edition which centered on memecoins.
Declining Price and Trading Activity
Pi Network’s price has dropped to $0.6646, representing a nearly 5% decline over the last day. This is the first time the token has fallen below the $0.7 mark in over a month.
The price drop coincides with dwindling trading activity within the Pi ecosystem. Despite the project hosting PiFest with over 125,000 registered sellers and 1.8 million Pioneers participating, market performance continues to lag.
Dr. Altcoin, a well-known figure in the crypto space, pointed out that “Since PiFest began, trading activity in the ecosystem has hit a new low, with the primary transactions being selling Pi for cash.”
All cryptos are down and Pi is down too! This is normal in the crypto world.
You need a higher threshold for patience and stress in crypto than in the normal world. pic.twitter.com/TAvo1vjd7c
— Dr Altcoin (@Dr_Picoin) March 31, 2025
This negative price action has intensified bearish sentiment among traders and investors, raising questions about the token’s future prospects.
Community Criticism of Leadership
The Pi Core Team (PCT) faces mounting criticism from community members regarding their communication strategy and leadership approach.
Many investors have expressed frustration with the PCT’s monthly updates, describing them as too predictable and lacking substance. Critics argue that these updates fail to address key concerns or stimulate interest in the project.
One critic, Dao World, suggested that the Pi Core Team has maintained the same strategy since the enclosed mainnet phase, failing to adapt to changing market conditions.
Other community members have called for leadership that better understands the modern dynamics of cryptocurrency and community management.
Listing Challenges Continue
The absence of Pi Network from Binance’s Vote to List program represents another hurdle in the project’s quest for mainstream exchange listings.
Binance has clarified that only BNB-based projects are eligible to participate in the Vote to List initiative, effectively excluding Pi Network from consideration. Experts suggest that a lack of transparency regarding Pi Network’s locking and burning mechanism may be a factor in Binance’s reluctance to list the token.
Despite these challenges, Pi Network did secure a listing on BTCC Exchange, which some see as a step toward eventual listings on larger platforms. Additionally, the PCT’s domain auction has reportedly received over 200,000 bids.
However, without a clear timeline for a Binance listing, many Pi Network supporters remain in limbo.
The growing frustration within the Pi community points to a need for the project to address transparency concerns and improve communication strategies to rebuild investor confidence and reenergize engagement.
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