- Pi Coin received 88% community support in a recent vote, aligning with Binance’s new listing model that allows users to vote for token listings and delistings.
- If Binance lists Pi, its price could rise above $10, potentially placing it among the top 10 cryptocurrencies by market capitalization.
- Binance is focusing on regulatory compliance, including plans to delist certain stablecoins, but Pi’s strong community support could increase its chances of getting listed.
Pi Coin, since its mainnet launched on February 20. Today, Binance has rolled out a new listing mechanism that will potentially make it simpler for Pi Coin to get listed. In this mechanism, users with as little as 0.01 BNB are able to vote for which tokens are listed or delisted.
Pi Coin Gains Strong Community Support
Recently, the community of Pi Coin conducted a vote, and 88% of the voters voted in favor of listing PI on exchanges. Binance’s new strategy is the same, in which tokens that are well-supported by the community are more likely to be listed.
If the token gains sufficient support, then Binance will proceed with listing and provide rewards such as airdrops to the early supporters.
Conversely, non-compliant projects can be delisted via the same voting mechanism. Binance has explained that this model is intended to provide users with greater control while ensuring compliance with regulations.
Pi Coin seems to be a prime candidate for listing under this new system. The February 17-February 27 community vote counted more than 232,000 eligible votes with 88% supporting the listing.
With so much support, Binance now has pressure to abide by its new system and list Pi. Although not listed on Binance yet, Pi Coin has made a huge surge and has an enormous user base. At the moment, Pi Coin is priced at approximately $1.81, posting a modest 2% increase over the past 24 hours.
Pi Coin Price Impact of a Binance Listing
It’s argued that if Binance formally lists Pi, its value could surge above $10, potentially driving it to the top 10 cryptocurrencies in terms of market capitalization. Today, Pi ranks 11th, behind Tron and Cardano, with a market capitalization of $12.95 billion.
Binance has also made plans to delist some stablecoins such as USDT in the EU because of regulatory issues. This indicates that the exchange is prioritizing compliance when coming to listing decisions.
Though Pi Coin has had its own share of controversies, its large community support base may assist it in getting listed under Binance’s new system.
Numerous people are of the opinion that if Pi is listed on Binance, the price of the latter may rise significantly and even hit $100.
Binance made changes in crypto, especially after introducing the Proof-of-Reserve system after the FTX collapse. If this new voting-based listing system works, other exchanges might follow Binance’s approach.
