- The Pi Network community remains hopeful as Binance announces a comprehensive update on how tokens are listed on the Alpha, Futures, and Spot markets.
- An analyst has observed that Pi Network has made significant progress in the area of compliance, coupled with its fundamentals and community strength.
Binance has unveiled the requirements for listing under three of its trading categories, rekindling speculations of a possible Pi Coin listing. As explored in our previous publication, the possible launch of the asset on Binance is not wishful thinking. Recently, the exchange organized a community vote on this effect. At that time, 85% of the participants voted “Yes”.
While Binance has not yet disclosed the exact date it would list the token, the latest update on the rules surrounding its listings has gingered the community.
Binance Alpha
Firstly, Binance described this section on the platform as a pre-listing token selection pool meant to discover and highlight crypto startups with potential. Its listing review is currently categorized into two – circulating projects and non-circulating projects.
Circulating projects are for those that have already issued tokens and are circulating in the market. According to Binance, the main requirement for listing under this category includes project performance in the secondary market. Specifically, the team assesses its liquidity depth, trading volume, historical price volatility, fully diluted valuation, and the market cap.
Under the non-circulating category, projects are evaluated based on key fundamentals and performance metrics like user adoption, business model, sector relevance, etc. Additionally, the team assesses tokenomics (token distribution and vesting schedule), technical risk assessment, and team background and compliance.
Futures Listing
The review of crypto projects listed under Futures is also categorized into two. The first has to do with projects already featured on Alpha. With this, Binance considers their trading volume over time, their stable price performance, regulatory and compliance considerations, etc.
The other category has to do with projects not yet listed on Alpha. According to Binance, considerations for listing are basically similar to those of Alpha.
Spot Listing
On the requirements that warrant a listing on the spot market, Binance highlighted that reviews are based on two categories – “projects already listed on Futures and/or featured on Alpha and circulating, and new TGE projects.”
Under the first category, the review team reportedly assesses whether the projects have maintained their fundamentals over time with no negative changes. For new TGE projects, direct listings could be earned as long as they align with the Alpha listing requirements.
Teams can consider first participating in Binance’s other listing methods, such as Launchpool, Megadrop, and HODLer Airdrops for a higher probability of securing a listing on Binance.
With all of these into play, Pi Coin is reported to stand a good chance. According to crypto analyst Dr Altcoin, the asset has made regulatory progress after it was earlier suspended by Bitmart over Know Your Business (KYB) compliance risks. As mentioned in our previous report, the analyst also cautioned Pi Network to take a cue from the fatal crash of past projects to stand the test of time.
Regardless of the excitement within the community, Pi Coin is still struggling to hold its position on the price curve. The asset has declined by 1% in the last 24 hours and 24% in the last seven days, trading at $0.64. According to our recent analysis, Pi Coin could stage a bullish reversal to $3.
