As hopes for a Binance listing fade, analyst Kim Wong sets the record straight, revealing three key barriers blocking the major catalyst for the PI coin price outlook.
Despite a broader return of risk-on sentiment, the altcoin is leading 7-day losses in the top 100, seemingly excluded from recent market tailwinds.
Geopolitical and macroeconomic FUD no longer clouds the narrative, and regulatory momentum is building a new wave of bullishness.
Still, early resistance in the U.S. House to the CLARITY Act, GENIUS Act, and Anti-CBDC Surveillance State Act has left markets cautiously optimistic for votes to flip in favour of “Crypto Week.”
The Three Reasons Binance Won’t List Pi Network
In February, Binance launched a community vote to list PI Network. Despite receiving 86% of the votes in favor, the exchange did not list the token, leaving the listing up in the air.
In a July 15 X post, popular analyst Kim H Wong shed light on why Binance and Coinbase still haven’t moved forward with a listing.
The first key issue is that Pi Network’s blockchain isn’t fully open-sourced. Publicly accessible code facilitates trust and technical scrutiny, a standard the Pi Network has yet to meet.
The second barrier is that there is no conclusive evidence that Pi Network has completed a third-party security audit from a reputable firm.
This is a non-negotiable step for major listings on Binance and Coinbase. Major exchanges require rigorous security evaluations to protect users and comply with regulatory standards.
The third reason is that Pi Network may not have formally applied for listing on either exchange, with no official confirmation from the Pi core team on progress.
Exchanges often require proactive engagement from project teams, including detailed documentation and compliance with their listing criteria.
Pi Coin Price Analysis: Why A Listing Matters
A Binance listing is important as the market struggles to absorb the excess supply of token unlocks without a rise in demand to stabilise PI coin price moves.
Deflationary pressures continue to compound the effects of short-term speculative trading as unlocks continue at an average rate of $6.48 million PI tokens per day, according to PiScan.
PI coin unlock schedule over the next 30 days. Source: PiScan.
Given Pi Network’s ongoing struggle with adoption, its price action remains largely speculative, lacking a meaningful use case to sustain long-term growth.
Demand remains thin, but Pi Coin could soon catch up with the broader altcoin rally as it nears the end of a week-long falling wedge.
PI / USDT 4-hour chart, imminent falling wedge breakout. Source: TradingView, Binance.
Stubborn resistance at $0.446 is the final barrier to confirm a breakout, opening the doors to a potential 15% gain to reclaim $0.5055.
Momentum indicators support the bullish case. The MACD is closing in on a golden cross, about ot surpass the signal line, a potential sign that the ongoing downtrend could reverse.
More so, the RSI hovers just above oversold territory at 35, suggesting sellers may be losing steam and buyers could soon step in.
However, failure to break resistance risks a drop to retest the wedge’s lower boundary. A breakdown from there targets lower support at $0.42.
Narratives Are the Key to Gains – This One Still Flies Under the Radar
The last bull run collapsed when the now-bankrupt exchange giant FTX was exposed for misusing customer funds. The narrative of the next bull run will emphasize security and self-storage.
Best Wallet ($BEST) aims to fill this gap as the next-generation self-custody solution, bringing a robust set of features to challenge the dominance of MetaMask and Phantom.
But it’s more than just a wallet. It introduces innovative tools like “Upcoming Tokens,” a crypto screener that helps users spot early opportunities while they still fly under most investors’ radar.
This utility extends to TradFi with Best Card, replacing the traditional debit card, allowing seamless real-world transactions using stablecoins anywhere that Mastercard is accepted.
This vision has already attracted almost $14 million in initial funding for its $BEST utility token. Its app is already featured on Google Play and the App Store.
To learn more about Best Wallet, follow its official X, Telegram, or visit the Best Wallet website.
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