Pi Network, the popular mobile mining project, has made significant strides including winning a vote for listing on Binance. However, this vote does not guarantee a listing on the world's largest crypto exchange.
Pi Network's Big Month
The last few weeks have been momentous for Pi Network, a project that allows people to mine cryptocurrency using their mobile phones and has built a large community of users nicknamed 'Pioneers'. On February 20th, Pi Network launched its Open Network, transitioning away from the previous Closed Network stage. Following this step, the PI token was listed on major crypto exchanges such as OKX and MEXC.
Not everything has been positive, though. Ben Zhou, CEO of the Bybit exchange, made harsh comments about Pi Network, to which the project's team quickly responded in defense.
The Binance Community Vote
Just before Pi launched its Open Network, Binance conducted a community vote, asking, 'Should Pi Be Launched on Binance?' The vote took place from February 17th to February 27th, sparking much debate. In the end, over 200,000 people voted in favor of listing PI on Binance.
Will Binance List Pi Network?
Winning the vote does not guarantee PI's listing on Binance. The exchange considers multiple factors such as potential trading volume, project reputation, technical strength, and community support. Strong community backing often indicates significant trading volume, important for exchanges for revenue and market share. PI's current success on other exchanges like OKX, where trading volume exceeded $530 million in the last 24 hours, is also noteworthy.
It's still uncertain if Binance will list Pi Network, but the project shows solid growth and community support. Such a listing would mark a significant milestone for a project that started as a simple mobile mining app.
