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Three Reasons Why Binance Did Not List the Pi Network
The cryptocurrency community has been eagerly awaiting the listing of the Pi Network token on major exchanges like Binance. However, recent news suggests that this may not happen anytime soon. The Pi Network’s failure to be listed by Binance or Coinbase is attributed to three significant reasons.
Firstly, the lack of transparency regarding the blockchain code is a major concern for Binance and other reputable exchanges. The Pi Network’s secrecy surrounding its blockchain technology has raised eyebrows among experts, casting doubts on the project’s legitimacy. As a result, Binance may be hesitant to list a token that does not provide sufficient information about its underlying technology.
Secondly, the criticism of the Pi Network as an MLM (multi-level marketing) scheme by prominent figures in the industry has also contributed to the lack of listing. Cyber Capital founder Justin Bons had previously criticized the project, stating that it is designed solely to deceive users and make profits. This negative publicity may have deterred Binance from considering the token’s listing.
Lastly, the token’s plummeting value over the past few weeks may be a major factor in the decision not to list it on Binance. According to CoinMarketCap data, the PI token has dropped by 26.17% in just one month, and this sharp decline in value raises significant concerns about the project’s sustainability.
It is essential to note that these reasons are not necessarily mutually exclusive, and their combination may have ultimately led to Binance’s decision not to list the Pi Network token.
In conclusion, while the Pi Network has the potential to be a game-changer in the cryptocurrency space, its lack of transparency, criticisms from industry leaders, and sharp decline in value have likely contributed to the inability to secure a listing on major exchanges like Binance.
Source: www.bitcoinbazis.hu
