Pi Network Faces Challenges Amid Trading Volatility, Banxa Pause
1min read Pi Network, a cryptocurrency project that gained significant attention for its unique mining approach, has faced a series of setbacks recently. The pi coin, which had reached a record low earlier this month, has been trading within a narrow range of $0.60 to $0.65. Despite the stabilization in price volatility, there are no clear signs of a strong recovery.
Adding to the challenges, the crypto payment platform Banxa has reportedly paused transactions involving Pi. This decision is likely due to pending Know Your Business (KYB) approval. Banxa had previously purchased millions of Pi coins at low prices and may resume transactions once approval is granted and the price of Pi improves.
Meanwhile, there has been a glimmer of hope for Pi Network. Over two months ago, Pi Network won a community vote on Binance by a wide margin, but the token remains unlisted on the exchange. However, on April 25, Binance released new listing guidelines, which has sparked fresh speculation about the possibility of Pi being listed.
Ask Aime: Is Pi Network's (PN) cryptocurrency price recovery imminent with Binance's new listing guidelines?
Binance's new evaluation framework emphasizes strong fundamentals, adoption metrics, tokenomics, team credibility, and compliance. For projects like Pi, which already have a circulating token, special attention is given to trading volume, liquidity, and market performance. This new framework could potentially pave the way for Pi's listing on Binance, provided it meets the stringent criteria.
However, significant challenges remain. Pi is not yet operating on any of the four blockchains currently supported by Binance, which include BNB Chain, Solana, Base, and Ethereum. Without integration into a supported chain or a clear timeline for expansion, Pi's path to a Binance listing remains uncertain. This lack of integration could hinder Pi's ability to meet Binance's new listing criteria, particularly in terms of trading volume and liquidity.
Crypto analyst Dr Altcoin expressed optimism about Pi's future, stating, “Pi is doing well! I am fairly confident that the price pumping of Pi might start during the Consensus Summit (May 14–16, 2025) rather than at the end of August when Pi unlocking significantly reduces.” This prediction suggests that Pi's price could see a significant boost during the Consensus Summit, which could potentially improve its chances of meeting Binance's listing criteria.
