Pi Coin Roars Back: BitMart Relists After Banxa Freeze—Is Mainnet the Next Catalyst?

Pi Network’s controversial token claws its way back onto BitMart after payment processor Banxa pulled the plug last week. Traders are betting the relisting signals growing legitimacy—or just another pump opportunity before the SEC comes knocking.

Behind the scenes: Pi’s core team remains tight-lipped about mainnet progress, leaving miners to wonder if their mobile-mined tokens will ever escape IOU purgatory. Meanwhile, exchanges keep playing hot potato with this unregistered asset—today’s rally could be tomorrow’s delisting notice.

Wall Street veterans are rolling their eyes at the ’decentralized’ project’s centralized stumbles. But in crypto’s wild west, even the jankiest projects get ninth lives when liquidity gets desperate.

Pi Coin, once a rising star in the crypto space, has faced significant setbacks recently, with its price plummeting nearly 80% from its peak of $3. This drop has raised concerns about the project’s legitimacy, liquidity, and exchange support. 

The suspension of Pi trading on BitMart a month ago, due to pending KYB (Know Your Business) approval for 1:1 Pi swaps, has particularly hindered its accessibility.

BitMart Resumes Pi Coin Trading

Pi Coin resumes trading on BitMart. Crypto expert Dr. Altcoin shared that this move could help the Pi Coin price recover and potentially reach the $1 mark. Additionally, an official KYB approval for BitMart might be on the horizon, which could further bolster investor confidence in Pi’s future.

Bitmart @BitMartExchange has resumed trading Pi after suspending it for a month pending KYB approval. This suggests that an official KYB approval for Bitmart might be announced soon. @PiCoreTeam @nkokkalis @Chengdiao @BitMartExchange @BitMartResearch pic.twitter.com/gfj2usEhMe

Banxa  suspended the Pi transaction

Banxa, a major fiat on-ramp provider, recently suspended Pi Coin transactions, citing pending KYB approval. This move has reduced liquidity and created additional hurdles for users looking to buy Pi Coin with fiat. 

Dr. Altcoin noted that despite this setback, Banxa had previously purchased millions of Pi at a low price and could return stronger once the approval is granted. This potential rebound could also coincide with a price surge, raising Optimism among Pi investors.

Pi Network Exchange Listing 

While Pi Network has garnered attention, its absence from major exchanges such as Binance, Coinbase, and Kraken has significantly limited its exposure and demand. 

The listing speculations are growing, with the Pi logo recently appearing in a post on HTX’s platform, fueling rumors of a potential listing. 

These moves, though promising, aren’t enough to fully lift the project’s visibility and trading volume on the global stage.