Pi Coin Binance Listing Stalls Over Centralization, Low Utility, and Slow Mainnet Progress

Pi Network’s potential listing on Binance remains stalled amid persistent concerns over centralization, slow mainnet development, and limited utility for its native token, Pi Coin. As of August 11, 2025, the project has yet to overcome critical barriers that prevent institutional and retail adoption, including the lack of a fully decentralized governance model and delayed migration from Testnet to a functional mainnet [1]. Binance, like other major exchanges, requires robust infrastructure and clear use cases before considering a listing, and Pi Network has yet to meet those standards.

Centralized governance continues to be a major point of contention. While Pi Network markets itself as a community-driven project, key decisions are still controlled by the Pi Core Team, limiting transparency and trust among users [2]. This structure contrasts sharply with the decentralized ethos that dominates the broader crypto space and is a red flag for exchanges prioritizing user autonomy and regulatory compliance.

Mainnet progress has also been sluggish, with the majority of activities still occurring on the Testnet. The Pi Core Team has urged users to complete KYC (Know Your Customer) verification to facilitate migration, but widespread delays persist, leaving the network incomplete and lacking in real-world transactional capabilities [3]. This has raised concerns that Pi Coin is more of a speculative asset than a functional currency.

Meanwhile, the token’s utility remains questionable. Unlike well-established cryptocurrencies such as Bitcoin or Ethereum, Pi Coin lacks concrete use cases beyond its mobile mining app. Validator payouts, ecosystem rewards, and broader merchant adoption have yet to materialize, further deterring institutional interest [4]. Without clear pathways for spending or staking, Pi Coin struggles to justify its value proposition to both users and investors.

The listing delay has drawn comparisons to other stalled blockchain projects, with Coindoo noting that unresolved KYB (Know Your Business) requirements and governance issues are among the main reasons Pi Coin remains unlisted on major exchanges [5]. Analysts suggest that Binance is taking a cautious approach, reflecting broader industry demands for transparency and decentralization.

Market reactions have been mixed. While Pi Coin recently saw a 10% price increase over 24 hours, pushing it back above $0.40, this has done little to quell concerns about the token’s long-term viability. Bitget noted that the token’s value has dropped from an all-time high of $2.98 to a range of $0.30–$0.40 in 2025, a decline of nearly 90% [6]. This volatility highlights the risks of investing in a project with an unclear roadmap and limited tangible utility.

For Pi Network to achieve its goal of listing on Binance, it must address these fundamental issues. Decentralizing governance, accelerating mainnet deployment, and developing real-world applications for Pi Coin are essential steps. Until these are realized, the project’s future in the competitive crypto market remains uncertain.

Sources:

[1] Inside the Pi Network Binance Listing Delay (https://coincentral.com/inside-the-pi-network-binance-listing-delay-whats-holding-pi-coin-back/)

[2] Pi Network's market performance in August 2025 is turning (https://www.facebook.com/groups/33174****8495364/posts/4131****23762495/)

[3] Pi network community awareness and strategic ... (https://www.facebook.com/groups/743880386219078/posts/177****506712389/)

[4] PROOF News Today | Latest PROOF Updates (https://www.bitget.com/price/proof/news)

[5] RSS Crypto - Cryptocurrency News feed aggregator (12541) (https://rsscrypto.com)

[6] Animecoin (ANIME) price Prediction (https://www.bitget.com/price/animecoin/price-prediction)