Key Notes
- Pi Network remains absent for the second consecutive round of Binance’s Vote to List program.
- The 12 selected tokens will undergo a review based on community votes, trading demand, and compliance.
- PI has dropped 6.5% in 24 hours, but showed signs of a potential bullish reversal.
Binance has once again overlooked Pi Network in its latest round of “Vote to List” initiative. The program, which allows Binance users to vote for cryptocurrencies to be listed on the platform, has selected 12 tokens this time, spanning various utility-driven sectors.
However, Pi Network
PI
$0.63
24h volatility:
8.1%
Market cap:
$4.27 B
Vol. 24h:
$305.38 M
remains absent for the second consecutive round.
The selected tokens, VIRTUAL, BIGTIME, UXLINK, MORPHO, GRASS, ATH, WAL, SAFE, ZETA, IP, ONDO, and PLUME, will undergo a final review process that considers community votes and factors like trading demand, compliance, and risk assessments.
Pi Network was also excluded from Binance’s first Vote to List event in March. The exchange has since clarified that it will only consider BNB-based projects for the initiative, effectively ruling out Pi Network from participation.
This has put an end to a possible listing via the new program. However, the Pi community members are still hopeful that the 26th largest digital asset could see a direct Binance listing in the near future.
One major reason experts cite for Binance’s reluctance is Pi Network’s lack of transparency. The PiCoreTeam (PCT) has faced criticism for not providing sufficient disclosures on the network’s tokenomics, particularly regarding its locking and burning mechanisms.
Bybit CEO, Ben Zhou, has even called the project a scam. PI is down by over 75% from its all-time high of $2.98, achieved on February 22, soon after its launch.
Binance has made it clear that projects seeking a listing must meet its stringent transparency and compliance standards. As a result, Pi Network remains in limbo for now as traders await further exchange listings.
PI Price Analysis
At the time of writing, PI is trading at around $0.64, recording a 6.5% drop in the past day. The token is trading 25% below in the past week. Its market cap has also fallen by 6% to stand at around $4.4 billion.
Despite the drop in value, PI appears to be forming a bullish reversal pattern on the two-hour price chart. Interestingly, the price is currently locked within a falling wedge pattern.
$PI locked inside a falling wedge in 2hr chart — a classic pattern known for potential bullish breakouts!
Price is hugging the lower boundary of the wedge, showing signs of possible exhaustion in the downtrend. If bulls step in and break above the wedge resistance, we could see… pic.twitter.com/tTLL1ViRJr
— Crypto Sat (@cryptosatred) April 3, 2025
Price action is pressing against the lower boundary of the wedge, suggesting that bearish momentum may be waning.
If bulls step in and push the price above $0.68, a breakout could trigger an upward move. However, traders should wait for confirmation through volume and a sustainable close above resistance.
Meanwhile, on the four-hour chart, the Relative Strength Index (RSI) sits at 29.40, nearing oversold territory. This suggests that traders could see a price recovery soon if buyers regain control. However, if the RSI remains weak, PI may continue to decline.
Source: TradingView
Bollinger Bands indicate increased volatility, with the price hovering near the lower band at $0.64, hinting at a potential bounce. A break below support could target lower levels, while holding support may lead to a rebound.
The middle band (20 SMA close at $0.69) acts as resistance, while the upper band (0.74) is a key resistance for bullish momentum.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.
