The cryptocurrency exchange Binance recently held a vote to determine which tokens would be listed on their platform. Out of the 12 selected tokens, Pi Network (PI) was not among them, despite previously receiving strong community support with 86% of the votes in Binance's "Vote to List" campaign.

Reasons for Rejection

Several reasons are suspected to be behind Binance's rejection of Pi Network:

  1. Lack of Transparency: Pi Network is considered to lack transparency in token management, particularly regarding token locking and burning.

  2. Not Based on BNB Smart Chain: Pi Network does not meet Binance's criteria, which requires projects to run on the BNB Smart Chain network.

  3. Lack of Clear Roadmap: Pi Network still lacks a clear roadmap regarding its mainnet and global launch.

Impact of Rejection on Pi Coin Price

Binance's rejection of Pi Network had a significant impact on the price of Pi Coin, which dropped over 80% from its all-time high and reached a new low of $0.53. This price decline is also influenced by investors' lack of confidence in the Pi Network project.

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