Speculation about Pi Network’s potential listing on Binance has intensified after wallet activity was spotted. Analyst reports show Pi Coin transactions on Binance’s Stellar deposit wallet. No official confirmation from either party has come yet. Meanwhile, a major announcement is expected on May 14, with official channels hinting at ecosystem updates. Pi’s recent price rises and challenges with token unlocks add complexity.
Speculation is brewing as the potential listing of Pi Network on Binance stirs interest. Recent wallet activity linked to Binance has increased chatter in the crypto community. Analyst Moon Jeff, on May 7, posted about movements of Pi Coin (PI) through Binance’s Stellar deposit wallet, raising eyebrows about possible integration.
What’s noteworthy is that the wallet has been associated with previous Binance transactions, implying that it may be conducting testing of sorts. Yet, it’s important to mention that both Binance and the Pi Network team have yet to confirm anything officially. Notably, May 14 is marked for a significant update from the Pi Network team, which many are hoping could shed light on new exchange listings.
On May 8, the Pi Core Team hinted at upcoming updates on social media but were rather vague on the details. This leaves us with lots of questions and expectations as the countdown to their announcement continues. The wallet in question, necessary for processing Stellar-based assets, was previously used during Pi Network’s early testnet phase, hinting at a certain continuity that could mean compatibility for future operations on Binance.
Currently, Pi Coin is listed on smaller exchanges like OKX and Bitget, but it hasn’t made its debut on major platforms like Binance and Coinbase. A community vote reflecting that a whopping 86% supported a PI listing helps bolster hopes. Interest appears to be on the rise, with PI witnessing an 8% increase over the past day, trading close to $0.63.
Market data showcases a notable surge in trading volume—up by 119% to $117.5 million. Technical indicators, including short-term moving averages, suggest bullish signals. If the price can eclipse $0.68, it might make a play for $0.75. However, it’s crucial to remain cautious.
Pi Network is not without its challenges; more than 1.4 billion PI tokens—worth over $850 million, will be unlocked this year. This includes a significant 231 million being released this month alone. Should new listings or increasing demand not materialise to balance this influx, potential price pressure is anticipated. There’s risk involved; if key support levels crumble, a downturn toward $0.59 or below could be on the horizon.
