major cryptocurrencies
Expert explains why Pi Network is not listed on major cryptocurrency exchanges
The decision of major cryptocurrency trading platforms to postpone the listing of Pi Network has caused astonishment, but one analyst analyzed the matter.
Members of the Pi Network community are perplexed by the decision of major cryptocurrency trading platforms not to list this coin. However, a cryptocurrency expert stepped in to explain the delay behind the potential listing, pointing to a severe lack of transparency on the part of the Pi Network core team.
Pi Network requires a high level of transparency
Cryptocurrency analyst, Dr. Altcoin, who operates under a pseudonym, explained the absence of Pi Network from major cryptocurrency trading platforms. According to a post on X, Dr. Altcoin indicated that the reason could be a lack of transparency on the part of the Pi Network core team.
Dr. Altcoin pointed out that the transparency issue revolves around the token economy in Pi Network. According to the analyst, information regarding the Pi Network locking mechanism remains shrouded in mystery. "It is likely that the Pi Core team has not been transparent enough about the lock and burn mechanism involving billions of Pi coins currently owned by PCT," the post stated.
Currently, Pi Network is not listed on centralized exchanges like Binance and Coinbase. While whispers of an imminent listing are increasing, Binance has excluded the asset from its listing vote program.
The decrease in circulating supply leaves the community puzzled
A closer look at the token economy in the Pi Network reveals a decrease in the circulating supply to 6.77 billion. The Pi Core team removed 10 million coins from circulation in what Dr. Altcoin described as an attempt to control prices ahead of the token's opening.
"Without transparency, this can easily be interpreted as potential market manipulation plans, as we have seen indications of this in recent days," said Dr. Altcoin. The previous token opening led to prices dropping to new lows, but there is a burning roadmap under development for the network. Experts say that burning Pi Network tokens will prevent a sharp drop in prices. However, some community members disagree with Dr. Altcoin's theory regarding the lack of transparency behind the delays in listing Pi Network. The cross-section of community members states that the delay stems from the Pi Core team's refusal to pay exchanges for the listing. They argue that the Pi Core team is seeking free listings from exchanges, taking the longer route. Pi is trading at $1 and has dropped 66% from its all-time high of $2.98 recorded in February.
