Pi Coin (PI) Listing Guidelines by Binance Could Open Doors for the Token's Listing

Leading digital asset exchange Binance recently released listing guidelines that have stirred the crypto community, especially supporters of Pi Coin.

Leading digital asset exchange Binance recently released its listing guidelines, which has stirrred the crypto community, especially supporters of Pi Coin.

Following the exchange outlining more straightforward criteria for future listings on its platform, market participants are speculating on a potential onboarding of PI coin on the world’s biggest crypto platform.

Binance Reveals New Listing Standards

In its most recent statement, Binance announced changes to how it lists new tokens. The exchange explained that it will use a more structured process to carefully evaluate the quality of each project and monitor the token’s performance in the market. It will also factor in community preference in its new listing strategy.

According to the update, the digital asset exchange broke down its listing process into three main paths: Alpha, Futures, and Spot listings. Each path includes several stages of evaluation, focusing on aspects such as user adoption and tokenomics, technical security, and trading volume.

For new projects, Binance Alpha offers early exposure to promising projects before a complete listing. The projects must showcase strong fundamentals, including a defined user base, real-world use cases, and a sound business model.

The crypto exchange will also be checking the token distribution to ensure that a large portion of the tokens are not held mainly by insiders. It will also be scrutinizing the project team's background and financial health.

Meanwhile, circulating projects that already trade on other platforms will be assessed based on healthy trading volume and stable price movements. Binance will also be considering the liquidity, market cap, and overall investor interest in making the final decision to move such tokens into Futures or Spot listings.

These straightforward guidelines now make it easier for projects to prepare and aim for listing on the platform.

Does Pi Coin Have A Chance Now?

It is worth noting that earlier this year, Binance held a community vote where 86% of nearly 295,000 participants voted in favour of having Pi listed on the exchange.

This vote was part of a broader initiative by Binance to engage its users in the decision-making process regarding new tokens to be listed. The community vote on Pi Coin's listing was particularly interesting due to the strong support it received.

The vote was conducted through the Binance “Vote to List” platform, which allows users to express their preference for new tokens to be included on the Binance exchange.

To participate in the vote, users were required to hold at least 1000 BNB, Binance's native token, in their Binance account during the voting period. Each voter had one vote, and the token with the highest vote count at the end of the voting period was to be considered for listing by Binance.

However, it is crucial to note that the community vote was not a formal listing decision by Binance. The exchange had the final say on which tokens to list, and it would still need to complete its own due diligence on each project before making a listing decision.

Also, CoinGape reported that crypto expert Dr. Altcoin shared news about Pi. Pi resumed trading on BitMart after a 1-month pause, which, according to the update, was due to KYB concerns.

Good news, folks! We're back on BitMart. They shut us down a month ago due to KYB issues, but we're up and running again. Get ready to party! ?

— Dr. Altcoin (@Crypto__Insti) March 20, 2024

This suggests that the project might be moving towards complete compliance, which is one of the criteria Binance considers.

This, along with a loyal community and interest in the token, could strengthen its case for meeting Binance’s standards. It will be interesting to see how these developments unfold and whether Pi Coin will ultimately be listed on Binance.

This will also depend on the trading activity, compliance, and user adoption of the token.

Price Outlook And Market Sentiment

CoinMarketCap data shows that Pi Coin was trading at $0.6470 at the time of writing, down 0.52% in the last 24 hours.

The coin has been struggling to stay above the $1 mark amid recent market turbulence. However, it has started showing signs of stabilization as more people are getting interested in the token now.

In line with the Binance exchange and other related updates, Grok3 believes this PI could reach $5 by 2026, with a bull case price prediction of $20 by 2030.

News data source: kdj.com

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