Why Haven't Crypto Exchanges Listed Pi Network Yet?

With over 47 million users, Pi Network intrigues as much as it divides. Driven by a mobile-first ambition, this crypto, despite being massively adopted, remains absent from major exchanges like Binance or Bybit. This absence raises questions about the transparency of the project and its strategic choices, contrary to the standards required by centralized exchanges and institutional investors.

A tokenomics deemed opaque by analysts

One of the main obstacles to the listing of Pi Network on Binance or Bybit lies in a lack of clarity deemed critical by some experts.

Thus, analyst Dr. Altcoin claims on the social network X (formerly Twitter) on March 22, 2025, that “the core team has still not clearly defined the locking or burning mechanisms of tokens,” elements that are essential for the credibility of a blockchain project.

This opacity prevents platforms from accurately assessing the risks associated with the circulating supply, a criterion that has become essential in the era of increased regulation in the sector.

Such mistrust has intensified with a recent decision that surprised observers: the removal of 10 million tokens from the network has reduced the circulating supply to 6.77 billion.

This complete lack of official justification has raised doubts about the intentions of the project team, as some suggest a manipulation of supply ahead of a potential token release.

Exchange platforms, in search of solid and transparent projects, are cautious regarding this governance deemed too unilateral.

Here are the main points of friction highlighted by analysts:

• A lack of transparency regarding tokenomics: the rules for distribution, blocking, and destruction of tokens remain vague.
• The unexplained reduction of circulating supply: no official announcement accompanied the withdrawal of millions of tokens.
• Concerns regarding governance: strategic decisions made without consultation or public communication.
• The perceived risk by exchanges: such opacity goes against the standards required for listings on major platforms.

A strategic refusal of the entry standards of exchanges

Beyond economic uncertainties, the absence of Pi Network on Binance or Bybit could also be explained by a strategic choice of the project team. According to several sources, Pi Network would have declined the idea of paying the listing fees required by certain platforms.

This decision would be motivated by the desire to preserve the independence of the project in relation to traditional business logics.

“The refusal to comply with the financial demands of exchanges can be seen as an ethical position,” observes Dr. Altcoin. He reminds us that this stance is difficult to maintain in the face of the imperatives of transparency and crypto regulation.

Thus, this non-conformist attitude, while appealing to some members of the community, complicates the prospects for listing on major platforms.

In the absence of listing on a recognized centralized exchange, the liquidity of the token remains limited, hindering any massive adoption or institutional speculation. Without integration into traditional trading circuits, can Pi Network surpass the experimental stage?

The evolution of the project will likely depend on its ability to clarify its economic structure and to establish a more constructive dialogue with crypto exchange platforms such as Binance and ByBit. Otherwise, Pi could remain a promising yet marginal community project, on the periphery of a market where the demand for transparency has become the norm.