Banxa Freezes Pi Coin Transactions – Binance Listing Hopes Rise
Pi Coin continues to stabilize at $0.60 to $0.65 levels after reaching oversold levels, exhibiting lower volatility but no convincing signs of a breakthrough yet. In the meantime, new data on Banxa and Binance have sparked hope and fear among Pi investors.
Banxa Suspends Pi Coin Transactions Temporarily
Crypto payment platform Banxa has suspended transactions for Pi Coin temporarily. Reports indicate that the suspension is because of pending "Know Your Business" (KYB) approval processes.
The platform, which had witnessed a rush of purchases of millions of Pi tokens at relatively low prices, might resume Pi services once KYB approvals are complete and improved pricing is attained.
This action has created confusion among Pi users, particularly soon after Pi Network had updated its mining protocols.
Hopes for Binance Listing Revive
Two months prior, Pi Network had won a major battle in a Binance community poll, reviving hopes for a possible listing. Binance, however, has not yet listed Pi Coin.
On April 25, Binance published new listing guidelines, which created new speculation. The new framework highlights:
- Solid project fundamentals
- User adoption rates
- Tokenomics
- Team credibility
- Regulatory compliance
For already-circulating tokens, trading volume, liquidity, and general market performance will have even more weight.
Blockchain Integration is a Serious Problem
Among the biggest challenges facing Pi Network is that Pi Coin is still not live on any of the major blockchains supported by Binance — BNB Chain, Solana, Base, or Ethereum.
Short of porting over to a supported network or issuing a definite timeline for integration, Binance listing is still in doubt.
Technical integration and strong on-chain activity are seen as vital requirements for achieving a listing place on top exchanges.
Conclusion
While having reached some key milestones in recent months, Pi Network still has to deal with enormous market volatility and tech hurdles.
Banxa's temporary delisting and Binance's tighter new policies introduce new obstacles for Pi Coin.
