The Pi Network (PI) token is maintaining its position above $1.50, fueled by growing speculation about a potential Binance listing. Since its official launch on February 20, Pi’s price has seen extreme volatility, but recent stability suggests investor confidence is strengthening.
Pi Network’s Volatile Market Debut
Following its mainnet launch, Pi Network was quickly listed on several major centralized exchanges, including OKX, HTX, Bybit, MEXC, Gate.io, BitMart, and Bitget. These listings triggered an initial price surge of 36.8%, pushing PI to $1.97 within the first hour, according to CoinGecko data.
However, this rally was short-lived, as early adopters liquidated their holdings, causing Pi to crash from its all-time high of $1.97 to a low of $0.61 on the same day. Adding to the uncertainty, Bybit CEO Ben Zhou referenced a Chinese report accusing Pi Network of fraud, specifically targeting elderly investors. Pi Network dismissed these allegations, emphasizing its legitimacy as a project that has been in development for six years.
Price Recovery and Binance Listing Speculation
Despite its turbulent launch, PI has shown signs of stability and recovery, trading between $1.35 and $1.69 in the last 24 hours. At the time of writing, PI is trading at $1.58, with a 24-hour trading volume of $1.02 billion, down 42% from the previous day.
Much of this resilience is attributed to speculation about a Binance listing. On February 22, a community vote on Binance gathered over 212,000 responses, with 86% of participants favoring PI’s listing. Investors believe that if Binance adds PI to its platform, the token’s price trajectory could shift dramatically.
Criticism Over Binance’s Potential Listing
While Binance’s listing poll has fueled optimism, some industry figures have questioned the decision. Colin Wu, founder of Wu Blockchain, criticized Binance’s revival of community-driven listings after seven years, specifically pointing to Pi Network as a controversial choice.
Wu suggested that Binance is prioritizing traffic and user registrations over security and industry reputation, raising concerns about whether PI meets the exchange’s listing standards.
What’s Next for Pi Network?
With Binance’s poll nearing its conclusion, investors are closely watching whether Pi will secure a listing. If successful, the increased liquidity and exposure could drive further price appreciation. However, if Binance chooses not to list PI, the token could face renewed selling pressure.
For now, Pi Network continues to hold above $1.50, as the market awaits Binance’s final decision.
