Pi Network investors are closely tracking developments as speculation over a Binance listing gains momentum. A recent community vote on the exchange saw overwhelming support for the listing, further fueling optimism. Despite a 20% dip in Pi Coin’s price amid a broader crypto market downturn, enthusiasts remain bullish on its long-term growth. Could a Binance listing happen this week?
Pi Network Gains Massive Support in Binance Vote
Binance recently concluded a community vote on whether to list Pi on its platform. The voting window, which ran from February 17 to February 27, allowed users to express their stance on the matter. The leading exchange engaged the crypto community by stating:
“We have been listening to the vibrant discussions within our community about Pi Network. To ensure your voices are heard, participate in our Community Vote on the topic: Should PI be launched on Binance?”
The results were decisive. A staggering 86% of the total 294,958 votes supported the listing, while only 14% opposed it. The overwhelming majority has fueled speculations that Binance may soon take action on the matter. If approved, this move could significantly enhance Pi Coin’s credibility and price potential.
What’s Next For Pi Network After Binance Vote?
While the voting results are positive, Binance has yet to confirm an official listing. Typically, community votes influence decisions but do not guarantee immediate action. Binance follows a thorough due diligence process, evaluating the project’s security, liquidity, and compliance with regulatory frameworks before making a final decision.
The Pi team must also ensure that its mainnet operations align with Binance’s listing criteria. The project, which recently launched its mainnet, is still working on key developments. A listing on Binance could push Pi Coin towards wider adoption, but the final decision remains in the hands of the exchange.
Why Is This Listing Important?
A Binance listing could be a game-changer for Pi Coin. It would expose the token to a global audience, enhancing liquidity and price stability. Historically, top crypto exchange listings have triggered price surges for various cryptocurrencies. If Pi Network secures a spot on Binance, it could see an influx of new investors, potentially driving up its valuation.
However, market conditions also play a crucial role. With Pi Coin’s value facing a significant drop today amid a broader crypto market correction, a listing alone may not be enough to reverse its short-term losses. Still, long-term investors view this potential milestone as a catalyst for sustained growth.
What’s Next For Pi Coin Price?
Pi Coin value today was down nearly 20% and exchanged hands at $2.15 while its one-day trading volume fell 53% to $1.68 billion. However, despite today’s dip, the crypto has added about 230% since last week. Besides, it has also touched its ATH of $2.99 recently, indicating growing market confidence.
Having said that, it appears that the recent surge might have caused the current dip in Pi Network’s value. For context, some investors might take the recent surge as an opportunity to book profits.
However, despite that, market enthusiasts remain optimistic about the long-term trajectory of the coin. For context, market watcher Max Pavlov recently said that the crypto is likely to target its upper resistance at $3.50 if the bullish momentum holds. But, if the bears dominate, the crypto might slip to $2.05, Pavlov noted.
Despite that, with soaring rumors of Binance listing soon, the crypto might see a strong recovery soon. Notably, a recent Pi price analysis hints at a potential rally for the crypto to $5 after the Binance listing.
The post PI Network’s Binance Listing This Week: Here Are The Odds appeared first on CoinGape.
