Pi Coin is under the spotlight due to an impending Binance listing, raising speculations on its future, especially with the Pi Network mainnet launch coming soon.
Binance has recently opened voting in the community on whether Pi Coin should be listed on the platform or not. The vote will be conducted until February 27, 2025, with 85% of voters already voting for their listing. However, this vote is not a guarantee that it will be listed.
Binance took a community vote on the Pi Coin listing on its platform. To track the latest on the Pi Coin Binance vote, visit the official Binance Square post at Binance Vote Link.
Critical timing ahead of the Open Mainnet launch of the Pi Network on February 20, 2025. Users who have their Pi Coin will finally be able to exchange them into fiat currencies.
This is an important milestone for this project that built momentum for this method of Pi Coin mining, which allows users to mine directly from their smartphones, for years.
There are even more questions regarding the future of Pi Coin and its trading potential beyond this role. OKX exchanges have already prepared for the trading debut of the token, as a PI/USDT trading pair on February 20. This news sent Pi Coin's price soaring, with value gains exceeding 100% as it touched the $100 ceiling.
But with their mining, because finally reaching the sales platform, Pi Coin probably will ensure huge selling pressure due to long-time miners.
It would be transformative for Pi Coins. The listing on the mega crypto exchange will undoubtedly present the Pi Network as an unprecedented global platform, tremendously scaling its user base and exposure.
The listing might also trigger positive market sentiments, especially for those inclined to the decentralized cryptocurrencies of the future. The excitement in the countdown to the Pi mainnet launch increases with the involvement of exchanges such as Gate.io, MEXC, and Bitget.
Despite all the growing excitement, however, skepticism lingers. Critics have triaged it as being too late in the launch of the Pi Network. Others further question the legitimacy of the business model under which it operates. The referral-based mining system has been termed close to a pyramid scheme.
However, some analysts like Kim Wong have defended the platform saying Pi Network is one of the few projects offering "instantaneous cross-border bartering and transactions."
These months will be defining for many as to whether Pi Coin lives up to any potential or can be dubbed a big joke. Traders and users alike are awaiting the awaited transition to a fully decentralized network just as Pi Network updates unfold.