TLDR
- Binance-linked wallets are testing PI on mainnet, sparking listing speculation
- Over 668 million PI tokens will unlock between May and July 2025
- Trading volume has dropped 96% from $1.3B to just $45M
- Founder Dr. Nicolas Kokkalis is scheduled to speak at Consensus 2025 event
- PI currently trades at around $0.58 with minimal recent price movement
Pi Network’s cryptocurrency has become the center of attention as wallet activity suggests major exchange Binance may be testing the token. This comes at a critical time with hundreds of millions of tokens set to enter circulation and a major crypto conference on the horizon.
Recent analysis from crypto researcher CRYPTOAD00 indicates that Binance may be exploring Pi Network integration. The researcher noted on May 7 that a Binance Stellar deposit wallet matches a Pi Network wallet now showing activity on the Pi mainnet.
Is $PI finally coming to Binance?
The Binance stellar deposit wallet which is the same as their $PI wallet has started testing transactions on the $PI chain.
The wallet (GABFQIK63R2NETJM7T673EAMZN4RJLLGP3OFUEJU5SZVTGWUKULZJNL6) is testing the transactions. #PiNetwork pic.twitter.com/2lUqPy5Ivi— MOON JEFF 🪐 (@CRYPTOAD00) May 7, 2025
This wallet was created approximately two months ago, according to the report. A second wallet has also been observed sending 1 PI token in what appears to be verification testing.
While neither Binance nor the Pi Network core team has made any official statement about a potential listing, the activity has sparked optimism among PI holders.
Adding to the speculation, Pi Barter Mall claimed on May 1 that Pi Network and Binance were in the “final stage” of negotiations. This claim remains unverified by either party.
Token Unlock Pressure
The timing of these rumors is particularly interesting as Pi Network faces pressure from a substantial increase in circulating tokens.
Blockchain data from PiScan shows that more than 668 million Pi tokens are scheduled to unlock between May and July 2025. The unlock schedule breaks down to 212.2 million in May, 222.6 million in June, and 233.4 million in July.
This influx of tokens comes as trading volume has fallen dramatically. CoinMarketCap data reveals that daily volume has dropped from $1.3 billion to just $45 million – a 96% decrease.
The shrinking volume suggests fewer buyers are entering the market even as token supply grows.
At the same time, centralized exchanges have been accumulating PI tokens. Bitget now holds over 95 million PI, while OKX has approximately 154 million. Exchange reserves have more than doubled since February 2025.
Binance has maintained silence regarding Pi Network. Some crypto analysts suggest the exchange’s hesitation may stem from concerns about Pi’s liquidity, unlock mechanism, and the project’s centralized aspects.
Consensus 2025 Expectations
Despite market challenges, Pi Network supporters are looking forward to Consensus 2025, where founder Dr. Nicolas Kokkalis is scheduled to speak.
The conference, taking place May 14-16 in Toronto, will bring together over 6,800 companies, 400 startups, and leaders from 100 countries.
Many in the Pi community expect new announcements or partnerships to be revealed during the event. Some supporters believe the token price could approach $1 during the conference.
Pi Network has recently secured several partnerships. Chainlink has teamed up with the network, and Telegram has begun supporting Pi in its crypto wallet.
As of this writing, Pi trades at approximately $0.58, showing little price movement since early May.
Stay Ahead of the Market with Benzinga Pro!
Want to trade like a pro? Benzinga Pro gives you the edge you need in today's fast-paced markets. Get real-time news, exclusive insights, and powerful tools trusted by professional traders:
- Breaking market-moving stories before they hit mainstream media
- Live audio squawk for hands-free market updates
- Advanced stock scanner to spot promising trades
- Expert trade ideas and on-demand support
