There’s a rumor making waves in the cryptocurrency world. It’s said that Binance, the world’s largest cryptocurrency exchange, is demanding a staggering $50 million (approximately 7.5 billion JPY) to list the coin of the rapidly growing Pi Network. Is this rumor true? And if so, what impact will it have on the Pi Network and its supporters?
Pi Network’s Current Status and Market Position
The Pi Network officially launched its mainnet on February 20, 2025, and has quickly gained attention in the cryptocurrency market. As of March 10, 2025, the trading price of Pi Coin has fallen to approximately $1.39 (about 209 JPY), recording a decline of about 12% from the previous day. Nevertheless, it maintains a market capitalization of approximately $12.9 billion (about 1.94 trillion JPY), establishing its position as the 12th largest cryptocurrency by market cap.
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Notably, the Pi Network is already expanding its real-world use cases. Zito Realty LLC in Florida is accepting Pi Coin as a payment method for real estate transactions, allowing the Pi Network to enter the $3.43 trillion U.S. real estate market. Furthermore, integration plans with the AI16ZH ecosystem are underway, which could potentially connect approximately 200,000 users worldwide to the Pi Network.
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It is also said that the Pi Network plans to launch approximately 100 applications within its ecosystem leading up to “Pi Day” on March 14. This could allow users to actually use Pi Coin within the ecosystem instead of selling it on exchanges, which is one reason why many “Pioneers” (Pi Network users) are holding onto their coins and avoiding low-price sales.
Of note is the upcoming large-scale unlock schedule for Pi Coin. According to PiScan data, a total of 282 million tokens (worth approximately $390.93 million at the current rate) are expected to enter the market in the next 30 days. Specifically, on March 17 and March 21, over 23 million Pi Coins are scheduled to be unlocked on each day, which could put supply pressure on the market.
Conflict Between Binance and Pi Network
Despite its rapid growth, the Pi Network also faces significant challenges. One is listing on major exchanges. Currently, it is not yet listed on Binance, the world’s largest exchange, which is causing growing dissatisfaction among the Pi community.
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Amidst this, a shocking rumor spread. It claimed that Binance was demanding an exorbitant $50 million to list Pi Coin. This rumor was disseminated across various social media platforms and picked up by many cryptocurrency influencers. However, as of now, neither Binance nor the Pi Network core team has issued an official statement regarding this rumor.
The amount of $50 million is unusually high compared to industry standards. While listing fees on major exchanges are typically said to be in the range of a few million dollars, it seems unnatural for Binance to make such a demand for a project like the Pi Network, which has over 60 million users. However, the credibility of this rumor has not been confirmed at this time and should be treated with caution.
Community Vote and Its Results
From February 17 to 27, 2025, Binance conducted a vote regarding the listing of Pi Coin through its Binance Square Official account. In this vote, out of 232,676 valid votes, 88% (202,547 votes) were in favor of listing Pi Coin, while only 12% (30,129 votes) were against it.
To participate in the Binance vote, users were required to hold assets worth at least $5 and complete identity verification. Many Pi supporters made deposits and completed procedures to meet these conditions and participate in the vote.
However, when Binance announced the voting results, they explicitly stated that this was merely “reference information” and would not directly influence the listing decision. According to Binance, the listing decision process considers many factors, including project quality, team reliability, market demand, use cases, technological innovation, regulatory compliance, and more. On March 1, Binance updated the voting results but did not indicate a commitment to listing Pi Coin.
Backlash Against Binance by Pi Supporters
Following the announcement of the voting results, many Pi Network supporters expressed anger. Many of them believed that the voting results would lead to a listing. This disappointment manifested in the form of a large-scale posting of 1-star reviews on the Binance app.
In a Pi Network Facebook group with over 135,000 members, a post encouraging members to “Give Binance a 1-star rating for disrespecting the Pi Network project” spread widely. Similar calls were disseminated on Facebook and X (formerly Twitter), and many users claimed to have taken action.
As a result of this protest, Binance’s rating on Google Play plummeted from 4.9/5 to 3.8/5, with 2.86 million reviews posted. On the App Store, the rating also dropped from 4.8/5 to 4.2/5, with approximately 12,400 ratings submitted. Many 1-star reviews included criticisms such as “They tricked users into depositing money for the vote” and “They disrespected the Pi Network project.”
This is not the first time Pi Network supporters have targeted a cryptocurrency exchange. Rival exchange Bybit faced similar backlash, and its CEO, Ben Zhou, issued a warning that “Pi Network is a potential scam,” after which its rating on Google Play plummeted from 4.7/5 to 2.8/5.
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Pi Coin Price Prediction and Future Outlook
With Pi Coin trading around $1.39 as of March 10, 2025, how would its price fluctuate if it were listed on Binance? Some analysts suggest that a Binance listing could potentially push Pi’s price above $10. If this were to happen, Pi could potentially enter the top 10 cryptocurrencies by market capitalization.
Predictions from various analysis sites suggest that Pi Coin could reach approximately $234 to $280 by 2030. While more optimistic predictions exist, many analysts anticipate growth within this range. For Pi Coin to reach these heights, the following factors need to align:
- Successful operation of the open mainnet
- Listing of Pi Coin by Binance and other major exchanges
- Sustained community interest and trading volume
- Clear regulatory stance and confirmation of legitimacy
However, it is important to remember that these predictions are speculative, and actual price movements are influenced by many factors. Especially for emerging cryptocurrency projects, price fluctuations are often unpredictable.
Concerns Regarding Project Legitimacy
Despite the rapid growth of the Pi Network and the enthusiasm of its community, there are also many voices raising doubts about the project’s legitimacy. Blockchain expert Anh Bang points out that despite the Pi Network launching its mainnet after 6 years of development, it has not yet released essential elements for a legitimate cryptocurrency project, such as smart contracts and open-source code.
Furthermore, accusations of being a “pyramid scheme” have surfaced in China, and it is questionable whether Binance would take such a risk to list Pi Coin. The warning from Bybit CEO Ben Zhou that “Pi Network is a potential scam” may also be affecting the project’s credibility.
On the other hand, Pi Network supporters claim that the project has a long-term vision and is focused on building a sustainable ecosystem. According to them, Pi is not just a speculative crypto asset but aims to function as a practical payment method.
“Traditional cryptocurrencies have only one purpose: buying and selling on exchanges. Warren Buffett once said, ‘If you gave me all the bitcoin in the world, I wouldn’t know what to do with it,’ but if the Pi Network’s 100 application ecosystem is fully implemented, this view may no longer hold true.”
Summary: Attention on Future Developments
The rumor that Binance demanded a $50 million listing fee from the Pi Network is not confirmed at this time. However, regardless of whether this rumor is true, the tension between the Pi Network, its community, and major exchanges is evident.
Despite the overwhelming majority supporting the listing of Pi Coin in the Binance vote, whether an actual listing will materialize remains uncertain. Binance emphasizes a comprehensive due diligence process and has made it clear that decisions are not solely based on popularity polls.
This situation highlights the complex relationship between emerging projects and established major platforms in the rapidly evolving cryptocurrency market. As cryptocurrency investors, it is crucial to base decisions on official announcements and concrete technical developments, rather than being swayed by rumors or excessive expectations.
The developments concerning the Pi Network and Binance will continue to be watched closely. In particular, how the Pi Network resolves technical challenges and enhances project credibility, and how Binance responds to this popular project, will be important indicators for the cryptocurrency market as a whole.
The announcement of 100 applications scheduled for “Pi Day” on March 14 will also be a significant event indicating the project’s future direction. Furthermore, the large-scale token unlocks scheduled for March 17 and 21 are also points of interest regarding their potential impact on the price of Pi Coin. Whether the future Pi Network aims for as a “practical payment method” will be realized or if it will succumb to criticism, it is necessary to continue paying attention to future developments.