The most hyped and awaited crypto project, Pi Network (PI), is all set for its mainnet launch on February 20, with millions of “Pioneers” across the globe waiting with bated breaths. Also know as a pioneer project in “mobile crypto mining” since 2019, Pi Network promises to completely revolutionize crypto industry with its Pi coin price speculations breaking the internet.
However, ahead of the launch. a controversy related to listing of Pi Coin has brought out the worst fears in fans: what if all the hype, build-up, excitement and buzz is just an air castle based out of pure speculation?
Despite all this excitement and hype in the Pi community, the ground reality is totally different. As of now, except for OKX and Bitget, there are no other big centralized exchanges that announced the official listing of Pi on their platform.
According to market analysts, the main reason behind this is skepticism about Pi project’s legitimacy. The project is facing allegations of being a pyramid scheme with no sustainable model of revenue. Similarly, the failure of viral crypto Telegram game Hamster Kombat in 2024 serves as a reminder of not to blindly trust market hype.
However, all these uncertainties have not made much impact on the Pi community’s enthusiasm, which has surged astronomically since the news that Pi coin will be listed on OKX and Bitget. There are also speculations that Binance and CoinBase might also list Pi coin, but there is no official confirmation about the same.
Currently, OKX is the only leading exchange that announced the listing of the PI/USDT spot trading pair which will start trading on February 20. As this news spread out the Pi coin price skyrocketed 106% and smashed the $100 level.
After OKX, another crypto exchange Bitget also plans to list Pi coin on the day of its mainnet launch.
BYBIT CEO slams Pi, Compares it with Ponzi Scheme
In midst of this ongoing controversy, Ben Zhou, the co-founder and CEO of BYBIT refused to list PI Coin on his exchange and termed Pi Coin as a pyramid scheme. Ben’s statement has divided the community with one squad supporting the Pi network and the other one calling it a fraudulent project.
Ben said, “Today a bunch of people asked me if I wanted to join pi, I said stop being ridiculous, I used to trade forex and was always being held up by middle-aged women and men asking them to return my hard-earned money, I really don’t want to get involved in the cryptocurrency world… Stay away from it… Thank you.”
Not only this Bitget also deleted a few posts regarding Pi Coin which created debate among the crypto community. After this, the whole Pi community got offended and criticized the CEO and other influencers calling it an MLM scheme.
After all this drama Pi holders who have been waiting for its mainnet launch for a prolonged time are worried about its listing and legitimacy. However, it is still a question of whether Pi coin will list on Binance or not. In addition, right now there is no update from the Binance regarding the Pi listing.
Final Thoughts
There has been so much hyperbole around Pi Coin and Pi Network since its launch. This project is surviving only on its hype using investors’ sentiments just like Hamster Kombat. However, over time everyone will get a reality check on whether Pi coin is a horse for a long race or not.
Also Read: Pi Network Warns Pioneers of Scams Ahead of Open Network
