Pi Coin Listed on CoinEx Amid Price Drop and Rising Concerns

The post Pi Coin Listed on CoinEx Amid Price Drop and Rising Concerns appeared first on Coinpedia Fintech News

Recently, Pi Coin (PI), has been listed on the CoinEx exchange, marking a significant milestone for the project. The listing, which took place on March 18, 2025, comes at a time when Pi Network faces scrutiny over its funding sources. Trading for Pi Coin began at 11:30 UTC, with deposits and withdrawals opening earlier at 11:00 UTC. Pi holders can now trade PI against Tether (USDT). “After rigorous reviews, CoinEx will list PI (Pi) on March 18, 2025,” the exchange stated in its announcement.

Binance Listing Still Uncertain

This brings the total number of exchanges listing Pi Coin to 12, according to Coinranking data. However, the possibility of a Binance listing remains unclear. Despite 86% of the Pi community voting for it, Binance has not confirmed if or when it will list PI, raising concerns about the project’s credibility.

X users have expressed frustration noting that Pi Coin has fallen to 13th place in the CMC rankings, with its price dropping below $1.3. Users note that the price drop is directly correlated with public sentiment.

Community Concerns Escalate

“The failure to get listed on Binance, despite 86% of the community voting in favor, raises serious concerns about public trust in the project,” a user commented on X. He further added that this issue is further compounded by the disappointing lack of major announcements on Pi Day from the core team.

Besides, many early Pi miners are now publicly criticizing the Pi Core Team for not making real progress after six years of development. To prevent a collapse and regain public trust, the Pi Core Team must take action by releasing the Pi Open Mainnet Roadmap, launching the 100 DApps, and revealing investors and key stakeholders involved in the project.

Lack Of Transparency

A Pi Network pioneer’s investigation found that SocialChain Inc. received investments from three firms—137 Ventures, Ulu Ventures, and Designer Fund. However, two of these firms have not listed Pi Network in their portfolios, raising concerns about the project’s funding. The lack of transparency has led to calls from the community for more clarity about the project’s financial support and partnerships.

A previous lawsuit filed by former co-founder Vince McPhillip against Pi Network sheds light on the project’s funding methods. The lawsuit claims wrongful termination, emotional distress, and breach of fiduciary duty, and reveals that Pi Network raised funds by selling SAFE (Simple Agreement for Future Equity) agreements. 

Pi Coin Price Takes A Hit, Major Token Unlock Ahead

In September 2019, Pi Network raised $500,000 at a $20 million valuation and raised another $300,000 in February 2020, at the same valuation. However, the lack of clear financial disclosure continues to raise concerns within the Pi Network community.

All these challenges have taken a toll on its price. Pi Coin (PI) has dropped 19.3% in value this week, falling from 12th to 21st on CoinGecko. It’s now trading at $1.1, down 16.5% in the last 24 hours. Besides, A key factor behind Pi Coin’s price fluctuations is the upcoming token unlock event. Around 129 million Pi tokens, worth about $175 million, are set to be unlocked, increasing the supply and potentially lowering prices. Investors are concerned that this influx of new tokens could push prices down further.

Despite this, Pi Network’s community remains active, with 100,000 registered sellers and 49,000 participants in PiFest 2025.