Pi Network, which has hundreds of thousands of supporters in the crypto currency world, was once again ignored by Binance, the world’s largest stock market. Binance’s newly launched “Vote to List” vote was not included in the community. This also adversely affected the Token’s price; Investors now question Pi’s future.
The price is falling, concerns are increasing
The fact that Binance did not include Pi Network on the voting list led to a direct reaction in the markets. The price of Pi decreased to $ 0.62, and approached the lowest point of all time. Token, which has lost 79 %since its summit in February, has lost its market value of approximately $ 14 billion. This big decline led both individual investors and supporters who technically believed in the project.
Pi, which once attracted attention with its market value, which once approached $ 20 billion, is currently traded at only $ 4.27 billion. Binance’s indifference is seen as one of the most important factors in this decline.
Why does Pi Network ignore?
In the second stage of Binance’s Vote To List program, 12 token, including Virtual, BIGTIME and Ondo, were opened for voting. However, Pi Network was not even included in this list. The main reason for this is that the program is only open to projects working on the BNB chain. Pi is automatically outside because it does not meet this criterion.
On the other hand, Binance, Picoreteam’in token economy is not transparent as a risk is expressed. In particular, the fact that there is no clear explanations about how Pi Token is locked, how it is burned and how the supply is managed leads to abstain from the stock market.
Community pressure is increasing, the future is uncertain
There is still no clear date or direct listing signal from Binance. However, Pi Network was recently listed on the BTCC stock exchange, and this development is seen as a small step for the project to open to wider audiences. In addition, more than 200,000 proposals from Pi’s Domain auction shows that the community is still active and faithful to the project.
Academician Selçuk Topal, one of the supporters of Pi Network, criticized Binance harshly for ignoring the project. Lame, “Why does Binance support Hype projects if Binance is in favor of real innovation?”he questioned the priorities of the stock market. In addition, questions about why the SAFU fund was not used consistently came up.
Pi’s price decreased by 7.5 %in the last 24 hours to $ 0.62. In this process, the eyes once again in the decisions of Picoreteam’in. Transparency, corporate trust gain and large stock market lists seem to determine the fate of the project.
