The Pi Network project created a huge buzz when it launched its open mainnet in February 2025. Many early supporters had high hopes that the PI coin would finally get listed on major exchanges like Binance and Coinbase. For a while, it looked promising. The PI price jumped by 35% shortly after the mainnet launch, and the coin managed to appear on several popular exchanges like OKX, HTX, Bybit, and MEXC.
But months have passed, and PI still hasn’t landed on Binance or Coinbase. While users continue to trade it on smaller platforms, those waiting for a full listing on the biggest crypto exchanges are beginning to lose hope. Here’s a closer look at why a PI coin listing on Binance and Coinbase might not happen as soon as some people expect.
What you'll learn 👉
Why Pi Network Gained Early Momentum
After the mainnet went live, the excitement around Pi was undeniable. The PI coin price reacted positively, and the community saw it as a sign that listings on top-tier platforms were just around the corner. Even Binance acknowledged the buzz by putting out a community poll to measure interest in the project.
Pi seemed to be on track. The user base had crossed 60 million, the project had its own blockchain, and people were eager to see PI finally become a tradable crypto asset on global markets.
But underneath all the hype, there were technical and structural problems that kept some of the biggest players in the space from fully embracing it.
Why Binance and Coinbase Are Still Holding Back on Listing Pi
One of the main issues is the closed nature of Pi’s mainnet. Even though the blockchain is technically live, it’s not completely open to the public. That limits real trading and makes it hard for exchanges to verify the coin’s actual market value. Without natural price discovery, it’s tough for platforms like Binance and Coinbase to know how to handle PI.
Another major roadblock is that PI still operates on a fairly isolated blockchain. It doesn’t yet support smart contracts and isn’t compatible with many of the systems used by large exchanges. This creates extra work and risk for any platform that wants to list it.
Binance especially has become more cautious since its $4.3 billion regulatory settlement in 2023. It now applies strict listing rules and wants proof of real trading volume, technical compatibility, and legal clarity. PI doesn’t meet all those expectations yet, and that’s likely a big reason why Binance is staying on the sidelines.
Trust Issues Are Growing as New Problems Appear
Several recent events have shaken community confidence in Pi even more. In May 2025, around 12 million PI tokens were suddenly moved from a wallet suspected to belong to the Core Team. The PI coin price crashed nearly 50% afterward. The team claimed it was part of a mainnet migration, but the lack of a clear explanation only deepened mistrust.
Then in June, users began reporting widespread wallet balance problems. Many saw their balances drop to zero after completing KYC. Others said their tokens never appeared after migration. These issues are still being resolved, but the damage to user trust is already visible.
There have also been a wave of phishing scams targeting Pi users. Fake wallet interfaces and passphrase theft attempts have put many accounts at risk, raising security concerns across the board.
Some researchers have even pointed to suspicious activity on the Banxa platform, suggesting possible price manipulation involving small-balance accounts trading in strange patterns.
Read Also: Uniswap Volumes Near ATHs: Is This the Catalyst for a UNI Price Rally?
The PI Coin Price Keeps Falling
At its peak in February 2025, the PI coin price looked strong. But things have changed fast. As of now, PI has dropped nearly 80% from its highest price. And as more technical issues, delays, and trust problems stack up, users are starting to lose faith.
While some community members still believe Pi could be listed by Pi2Day on June 28, 2025, there’s no confirmation. Price predictions still float around but none of that matters if the coin doesn’t get the trust of many.
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