After recently touched a record low level, the price of PI remains stable between $ 0.60 to $ 0.65. Even though volatility has decreased, no strong recovery signs have been received so far. Meanwhile, news related to Banxa and Binance is causing both hope and concern for Pi coin investors. Let’s understand in detail.
Banxa imposed temporary ban on Pi coin transactions
Crypto payment platform Banxa has recently stopped the transaction of token Pi of Pi Community. According to reports, this step has been taken due to their “Know Your Business” (KYB) approval process. This service may be active again after KYB approval and better price level on Banxa, who bought millions of Pi coins at cheap prices. This ban has created confusion for the users of Pi Coin. Significantly, this ban has been imposed when recently Pi mining mechanisms have changed Are
Expectations on listing on binance
Two months ago, Pi Community won by a huge margin in the community vote of Binance, which raised the hope of listing. But till now Binance has not listed Pi Coin. But on 25 April, Binance issued its new listing guidelines, which again gave rise to speculation. The new rules have given special emphasis on the strong fundamentals of the project, user adoption, tokenomics, team’s credibility and regulatory compliance. Trading volume, liquidity and market performance will be given special importance for the tokens that are already present.
Blockchain integration became the biggest challenge
The biggest obstacle of Pi Community is its token Binance The four major blocks supported by BNB Chain, Solana, Bottom and Ethereum are active on any of them. Until Pi Coin does not migrate on one of these networks or declare a clear timeline, listing on Binance will remain difficult. Technical integration and strong on-chant activity will be very important for a successful listing.
Conclusion
PI Community may have achieved some major achievements in recent months, the instability and technical challenges in the market make its future uncertain. Temporary brakes of Banxa and strict new guidelines of Binance create new obstacles in front of Pi Coin. It is too early to expect a strong recovery or listing on a large exchange until Pi Crew resolves these challenges and does not prioritize blockchain integration.
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