Binance's listing guidelines provide optimism for Pi Coin's potential inclusion on the platform.
Binance's New Rules Boost Pi Coin's Chances
Binance, the popular cryptocurrency exchange, has updated its token listing rules, potentially increasing the likelihood of Pi Coin landing a spot on the platform. These new guidelines aim to ensure the listing of reliable, measurable, and secure tokens.
The updated process divides listings into three main categories: Alpha, Futures, and Spot. Each category has distinct requirements, with user adoption, token economics, technical security, and trading history being the key factors. Let's break it down:
Alpha CategoryThe Alpha pathway is designed for projects in the development stage. To qualify, projects should have:- A clear, practical use case- An active and engaged community- Continuous development efforts- The ability to distribute tokens effectively- No excessive insider holdings
Futures and Spot ListingsBoth Spot and Futures listings require assets to meet criteria such as:- Sufficient trading volume- Substantial market cap for stability- Relatively stable prices- Compliance with regulatory and technical standards
The process hopes to create a more predictable listing experience for developers and communities.
Community Backing and Regulatory StepsPi Coin received approximately 86% support in Binance's community poll, demonstrating strong community interest. Posting a current value of $0.6470 on CoinMarketCap, Pi Coin has been reinstated on BitMart following a month-long absence due to regulatory compliance issues.
Potential for GrowthWith the Pi Network team buying over 48 million Pi Coins from exchanges to reduce selling pressure and the approval of FruityPi, a decentralized application, Pi Coin’s ecosystem is strengthening. Analyst Moon Jeff predicts that Pi Coin’s price could rise to $5 and reach a new record high2.
So, while Pi Coin faces additional challenges due to not operating on Binance's supported blockchains, the updated listing requirements may still provide a pathway for it to join the roster on the platform3.
Related:- Pi Network Price Rises from Dip: Is Recovery Coming?- Binance Reveals Four Altcoins It May Delist- Binance Offers $600 Gift (Exclusive to Our Website)
- In light of the new rules implemented by Binance, it is possible that Pi Coin, a crypto project with potential, could meet the requirements for a Futures listing on the exchange, given its necessary features such as sufficient trading volume, substantial market cap, and regulatory compliance.
- As Pi Coin has demonstrated strong community backing and recently met regulatory standards to reinstate its listing on BitMart, it might be strategically significant for the project to campaign for compliance with Binance's tech standards to evaluate its chances for a Spot listing on the popular cryptocurrency exchange.
- With the Pi Network's efforts in reducing selling pressure and the creation of a decentralized application (FruityPi), the token's presence on platforms such as Binance could contribute to increased stability in the finance sector, potentially capitalizing on the exchange's popularity to drive token adoption and enhance its reputation in the web3 ecosystem.
