- Pi Network users have overwhelmingly rejected a potential Binance listing, citing unresolved KYC issues, locked tokens, and migration delays as major concerns.
- Experts warn that upcoming token unlocks and weak technical indicators could trigger further price declines unless the project delivers meaningful utility and stability.
A recent poll by a Pi Network community account on X stirred controversy after asking, “Do you want to see $Pi listed on Binance?” The result surprised many: the majority of respondents said no. For a project with over 50 million users globally, this community pushback against a Binance listing signals deeper internal frustration and uncertainty over Pi’s readiness for prime time.
Many Pi Network users, self-described as “Pioneers” argue that listing Pi on major exchanges like Binance would be premature. A common concern is the project’s broken KYC (Know Your Customer) system, which is critical for users to unlock and migrate their mined tokens.
Some users report waiting months, or even years, for verification. Worse, a bug in the system ties token unlocking to other users’ KYC status within one’s “security circle,” creating bottlenecks.
Not until my KYC gets approved, still waiting… four months and counting,
one frustrated user wrote.
Even more troubling are allegations that Pi’s moderators mute users who question these delays. Several early adopters claim they lost thousands of Pi tokens due to unclear migration rules or missing migration deadlines. “I lost 2,500 PI,” one early user stated. Compounding the issue, the Pi wallet system has also faced criticism, with reports of balances not appearing post-mainnet migration.
Price Woe & Volatile Outlook
Pi Network recently set a hard deadline: users must complete KYC and migrate their tokens by March 14, 2025, or forfeit access. This announcement, alongside ongoing technical issues, has contributed to bearish pressure. The price of Pi has dropped over 10% in the past week, currently trading at $0.6526, well below its $3 February peak.
Experts warn of a volatile path ahead. Over 280 million PI tokens—worth approximately $176 million—are set to unlock in June 2025. Without significant ecosystem demand or utility to absorb this supply, a price slump is likely. Pi’s technical indicators also flash red: a bearish MACD, RSI at 41, and patterns such as an inverse cup-and-handle suggest continued weakness. A drop below $0.55 could trigger panic selling toward $0.40.
Community Division and Unrealistic Valuations
While some users remain hopeful, citing rumors of Phase 2 migration and the Wyckoff accumulation pattern, the majority sentiment is bearish. A vocal minority continues to promote a speculative “$314K Global Consensus Value” (GCV) for Pi—a narrative not supported by fundamentals and dismissed by experts as fantasy.
Joe Swanson, a crypto analyst, commented, “A break below $0.55 risks a drop to April’s $0.40 low,” while Dr. Altcoin criticized the GCV narrative, saying it distracts from real concerns like migration chaos and token centralization.
Pi’s future will depend on whether its team can fix KYC bottlenecks, complete migration phases, and develop real utility within its ecosystem. Until then, listing on Binance may remain out of reach—not because the exchange won’t allow it, but because the community itself believes Pi simply isn’t ready.