Binance's recent 'Vote to List' event left Pi Network off the list, causing disappointment in the crypto community. Binance announced 12 tokens available for voting, with Pi Network notably absent.
Critical Criteria: What Matters for Binance
Binance selects tokens for voting based on factors like trading volume, risk assessment, and regulatory compliance. Tokens involved in the voting included VIRTUAL, BIGTIME, UXLINK, MORPHO, GRASS, ATH, WAL, SAFE, ZETA, IP, ONDO, and PLUME. Successful projects will proceed directly to the listing phase. Due to factors like trading volume and risk assessment, some projects may not pass Binance's evaluation process, even if they are popular among the community.
Intensified Transparency Debates on Pi Network
Pi Network's exclusion has resurfaced allegations about lack of transparency. Experts argue that inadequate information about its locking and burning mechanisms is a significant flaw. It's believed Binance's decision results from this uncertainty, though Pi Network has made other strides — its token was recently listed on BTCC, a step that might favor future Binance listings.
Impact on Pi Network's Price
Being left out of Binance's listing event affected Pi Network's market performance. Over the past 24 hours, its token value declined by about 5%, dropping below $0.70, indicating shifting market dynamics and reduced investor interest.
Pi Network's exclusion from Binance's voting list highlights the importance of meeting listing criteria and transparency. Improving transparency and aligning with exchange standards is crucial for market recovery.
