An expert explains why Pay Network is not listed on major cryptocurrency exchanges
The decision of major cryptocurrency trading platforms to postpone the listing of Pay Network has raised eyebrows, but an analyst has analyzed the matter.
Members of the Pay Network community are puzzled by the decision of major cryptocurrency trading platforms not to list this coin. However, a cryptocurrency expert stepped in to explain the reason behind the delay for potential listing, pointing to a severe lack of transparency from the Pay Network core team.
Pay Network requires a high level of transparency
The explanation from cryptocurrency analyst, Dr. Altcoin, who operates under a pseudonym, regarding the absence of Pay Network from major cryptocurrency trading platforms. According to a post on X, Dr. Altcoin indicated that the reason may be a lack of transparency from the Pay Network core team.
Dr. Altcoin pointed out that the transparency issue revolves around the token economy in Pay Network. According to the analyst, information related to Pay Network's locking mechanism remains shrouded in mystery. "The Pi Core team likely has not been transparent enough regarding the locking and burning mechanism involving billions of Pi coins currently owned by PCT," the post stated.
Currently, the Pi Network is not listed on central exchanges like Binance and Coinbase. While whispers of an imminent listing are increasing, Binance excluded the asset from its listing vote program.
The decline in circulating supply leaves the community puzzled
A closer look at the token economy in the Pi Network reveals a decrease in 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 before the token opens.
"Without transparency, this can easily be interpreted as potential market manipulation plans, as we have seen indicators of this in recent days," said Dr. Altcoin. The previous opening of the token led to price drops to new lows, but there is a burning roadmap under development for the network. Experts say that burning Pi Network tokens will prevent sharp price declines. However, some community members disagree with Dr. Altcoin's theory regarding the lack of transparency behind the delays in Pi Network's listing. A cross-section of community members argues that the delays stem from the Pi Core team's refusal to pay exchanges for listing. They argue that the Pi Core team seeks free listings from exchanges, taking the longer route. Pi is trading at $1 and has declined by 66% from its all-time high of $2.98 recorded in February.