Binance's listing guidelines offer optimism for Pi Coin's potential market inclusion
Chances soar for Pi Coin on Binance
Binance has recently updated its token listing criteria, upping Pi Coin's chances of making the cut. The exchange aims to list reliable, secure, and measurable tokens, dividing the process into three categories: Alpha, Futures, and Spot.
In the Alpha category, projects should have a clear use case, an active user base, and token distribution capabilities. Meanwhile, the Futures and Spot listings consider factors like trading volume, liquidity, market value, and price stability of assets already trading on other exchanges. Furthermore, Binance investigates teams for regulatory risk and conducts technical security checks.
Pi Coin, with roughly 86% support in Binance's community poll, showcases the community's interest in the project. Resuming trading on BitMart, after a month-long suspension due to KYB compliance issues, also bodes well for Pi Coin from a regulatory standpoint.
According to recent reports, Pi Coin is currently trading at $0.6470, losing 0.52% in the last 24 hours. Despite struggling to break above the $1 mark, the coin displays signs of stability, likely due to investor interest.
Dr. Altcoin's tweets suggest that the Pi Network team has bought over 48 million Pi Coins from exchanges to minimize selling pressure. Not only that, but FruityPi, a decentralized application, has been approved to strengthen the ecosystem. Analyst Moon Jeff predicts that Pi Coin's price could hit $5 and set a new record high.
Binance's Spot category requirements include proven market performance, high trading volume and liquidity, low volatility, transparent tokenomics, and community and regulatory compliance. Pi Coin, with its demonstrated success and strong community backing, certainly checks many of these boxes.
Related: Pi Network Price Rises from Dip: Is a Turnaround Coming?Binance Reveals Four Altcoins It May Delist
[1] Binance Listing Criteria: https://www.binance.com/en/faq/114500576314[2] Binance Futures Listing Criteria: https://www.binance.com/en/support/faq/115000532982[3] Binance Spot Listing Criteria: https://www.binance.com/en/support/faq/360013123291[4] Pi Coin Community Support: https://community.binance.com/en/discussion/945606/community-poll-pi-network[5] Pi Coin Resumes Trading on BitMart: https://www.bitmart.com/announcement/en/719
- Binance, with its stringent listing criteria, is considering Pi Coin for its Spot category due to the coin's demonstrated success, high trading volume, and strong community backing.
- Pi Coin's stability, evidenced by its price action and investor interest, aligns with one of the Spot category's requirements - low volatility.
- If Pi Coin continues to meet the requirements for listing on Binance's Spot category, it could potentially attract more investors, contributing to its price rise and potentially reaching the prediction of $5 as suggested by analyst Moon Jeff.
