Speculation around a possible Pi Network listing on Binance has picked up again after users spotted activity involving a wallet connected to the exchange. 

On May 7 onchain analyst Moon Jeff reported on X that small amounts of Pi Coin (PI) were observed moving through Binance’s Stellar deposit wallet. The wallet address, already associated with Binance in earlier transactions, appeared to be conducting test transfers, prompting fresh speculation about integration.

The timing has drawn attention, although neither Binance nor the Pi Network team has provided an official confirmation. Pi Network is set to make a major announcement on May 14, which many believe could include details on new listings. On May 8, the Pi Core Team posted on X, hinting at upcoming ecosystem updates without offering specifics.

What adds weight to the speculation is the specific wallet involved, which is used by Binance to handle Stellar-based assets. The address was used for testing transactions during Pi Network’s early testnet phase, when it still ran on a version of the Stellar Consensus Protocol.

Even though Pi now has its own mainnet, it still shares many key design elements with Stellar. Because of this similarity, Binance’s Stellar-based deposit infrastructure may still be compatible with Pi Coin, making it a logical choice for internal testing involving deposit or settlement functionality.

PI is currently listed on smaller exchanges like OKX and Bitget but remains absent from major platforms like Binance and Coinbase. A past community vote on Binance showed that 86% of users support a PI listing, adding to current hopes.

Market data points to a resurgence of interest. PI is up 8% in the last 24 hours, trading at around $0.63 as of press time. According to the crypto.news price tracker, trading volume has risen by 119% to $117.5 million. Technical signs point to a slight bullish trend. Short-term moving averages suggest buy signals, and the relative strength index and MACD are both on an upward trend. The price may rise towards $0.75 if it breaks above $0.68. 

However, PI continues to face certain risks. More than 1.4 billion PI tokens, valued at over $850 million, will be unlocked over the next year, including 231 million this month alone. Without new exchange listings or rising demand, this could put pressure on prices. If PI loses key support, a drop toward $0.59 or lower is possible.