Analyst Claims Transparency Issues May Block Pi Networks Major Exchange Listings
- Crypto analyst suggests Pi Networks opaque coin management prevents Binance and Coinbase listings.
- Recent circulating supply decrease of 10 million coins raises questions about supply manipulation.
- Despite strong community support, Pi Network faces continued listing challenges ahead of April token unlock.
A cryptocurrency analyst has proposed a theory explaining why Pi Network (PI) remains notably absent from major exchanges like Binance and Coinbase, despite significant community demand for such listings.
According to the analyst, transparency concerns regarding Pi Networks coin management practices may be the primary obstacle preventing these high-profile exchange partnerships.
Dr. Altcoin, a crypto analyst on X, attributes Pis listing delays to what he describes as inadequate transparency from the Pi Core Team (PCT), particularly regarding how they handle the locking and burning of billions of Pi coins currently under their control.
I now better understand why Pi is not listed on major exchanges such as Binance and Coinbase. Likely, the Pi Core Team has not been transparent enough about the locking and burning mechanism involving the billions of Pi coins currently owned by the PCT, Dr. Altcoin stated in his analysis.
The analyst previously observed that Pis circulating supply had decreased by 10 million coins to approximately 6.77 billion, suggesting that the core team might be adjusting supply levels to influence price stability. This practice, while potentially beneficial for maintaining price equilibrium, raises questions about centralized control over the tokens economics.
The last time a large number of Pi coins were unlocked, it sent the wrong signal and caused panic selling. However, the PCT still needs to be transparent about the Pi burning mechanism and its plans for locking the majority of Pi coins owned by the PCT, he added, highlighting the market volatility that followed previous token unlocks.
Pi Network could secure major exchange listings
According to Dr. Altcoin, this lack of transparency creates an environment where outside observers might interpret these actions as potential market manipulation strategies. He suggested that Pi Network might eventually secure listings on major exchanges once the core team improves its transparency practices and after most community-held coins are traded at prices below $1.
These transparency concerns align with previously reported issues regarding Pi Networks centralization, particularly related to its SuperNodes system. BeInCrypt recently reported on questions surrounding network control and governance transparency, factors that could further complicate Pis acceptance by prominent cryptocurrency exchanges with strict listing criteria.
Despite these challenges, Pi Network continues to show community strength, recently surpassing 4 million followers across its social media channels. The projects popular support was further evidenced by a Binance survey that revealed 86% of participants wanted Pi listed on the exchange.
However, this strong community backing has not yet translated into listing action from Binance, creating frustration among Pi supporters. The disconnect between community desire and exchange response is particularly notable given Binances recent initiatives to incorporate community input into listing decisions.
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
