- Binance-linked wallets trigger Pi mainnet activity amid unconfirmed listing talks.
- Over 668M PI to unlock by July 2025, doubling exchange reserves.
- Pi trading volume drops 96% from $1.3B to $45M, raising liquidity concerns.
Speculation surrounding a potential Pi Network listing on Binance intensified this week after blockchain analysts reported wallet activity linked to the exchange.
Binance-Linked Wallets Trigger Activity Across Pi Mainnet
A researcher from the crypto community platform X, under the handle CRYPTOAD00, revealed that Binance’s Stellar deposit wallet shows matching records with an active Pi mainnet address. This wallet, reportedly created two months ago, has now begun engaging in transactions, triggering renewed attention.
A second wallet performed a 1 PI transfer, which has been interpreted as related to identity verification protocols. The activity has not been publicly acknowledged by either Binance or the Pi Core Team.
However, users within the Pi community are closely watching for developments. Pi Barter Mall, a known platform within the ecosystem, claimed on May 1 that Pi and Binance had entered the final stage of negotiations. No confirmations have been issued to verify this claim.
Massive Pi Token Unlock to Double Exchange Holdings
According to PiScan blockchain data, the Pi Network is preparing for a significant token unlock scheduled to occur from May through July 2025. The number of tokens involved in the unlock process is estimated at over 668 million PI. Monthly figures include 212.2 million in May, 222.6 million in June, and 233.4 million in July.
This increase in circulating supply is expected to more than double the tokens currently held by centralized exchanges. Bitget’s reserve currently holds over 95 million PI, while OKX holds approximately 154 million. These accumulations have continued to rise since February. Concerns are emerging within the trading community about a possible market selloff during the unlock period, especially given the platform’s liquidity challenges.
Additionally, Pi’s trading volume has experienced a sharp drop. The value has dropped 96% from its height of $1.3 billion to a current $45 million as per CoinMarketCap. This decline in trading activity calls for some questions with regard to demand. The steep decline in volume may also reflect the uncertainty caused by the delayed listing on major exchanges.
Binance Maintains Silence as Pi Awaits Exchange Clarity
Binance has not released any official comment regarding the Pi-linked wallet activity or a possible listing. The platform typically avoids listing digital assets lacking adequate liquidity, full decentralization, or clear utility.
Observers within the crypto industry believe Pi still faces key challenges on those fronts. The Pi Network remains in its enclosed mainnet phase and is not yet fully available for open trading.
The Core Team has yet to provide a confirmed timeline for when the Pi token will become widely accessible through centralized exchanges. Pi’s development team continues working on the network’s core functions, while community interest remains strong due to the asset’s wide user base.
