The Pi Network (PI), one of the most talked-about crypto projects, is preparing for its mainnet launch on February 20. Since 2019, Pi Network has gained attention as a pioneer in mobile crypto mining, with millions of users—called “Pioneers”—eagerly waiting. Many believe this project could transform the crypto industry, and speculations about Pi Coin’s price have taken over the internet.
However, just before the big launch, a major concern has shaken the Pi community: What if all the excitement is just empty hype?
Limited Exchange Listings Raise Doubts
Despite the enthusiasm, the reality is different. Only two major exchanges—OKX and Bitget—have confirmed they will list Pi Coin. Other big platforms, such as Binance and Coinbase, have not made any official announcements about listing it.
Many market analysts are skeptical about Pi Network’s legitimacy. Some critics have even compared it to a pyramid scheme, saying it lacks a clear revenue model. The failure of Hamster Kombat, a crypto Telegram game in 2024, also serves as a warning that not everything popular in crypto is trustworthy.
Pi Community Remains Optimistic
Despite these concerns, the Pi community remains highly excited. News of OKX and Bitget listing Pi Coin has driven enthusiasm even higher. Some rumors suggest that Binance and Coinbase might also list Pi Coin, but there is no official confirmation yet.
OKX was the first major exchange to confirm that it will offer PI/USDT spot trading starting February 20. After this announcement, Pi Coin’s price surged by 106%, crossing the $100 mark. Bitget has also announced it will list Pi Coin on the same day as the mainnet launch.
BYBIT CEO Calls Pi a “Scam”
In the middle of this excitement, a controversy erupted when Ben Zhou, the CEO of BYBIT, refused to list Pi Coin on his exchange. He even compared it to a pyramid scheme, which sparked a heated debate in the crypto community.
Ben Zhou stated, “Some people asked me to join Pi, but I said no. I have seen too many scams in the past, and I don’t want to be involved in another one.”
Following this, Bitget deleted some of its posts about Pi Coin, adding to the confusion. Pi supporters criticized these actions, calling them unfair and accusing critics of trying to damage the project’s reputation.
Final Thoughts
The hype around Pi Coin is massive, but many still question whether it is truly valuable or just another crypto trend. Right now, it is unclear if Binance or other major exchanges will list it. As the launch date approaches, the real test will be whether Pi Coin can sustain its momentum—or if it’s just another short-lived craze.
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