As we all know, PIKA launched on BingX on April 22nd, alongside Bitmart as the token’s third and fourth centralised crypto exchanges (CEXs).
A week later, we have decided to delist PIKA from BingX for three main reasons.
- Delayed marketing and poor organisation.
- Alleged fake wash trading.
- No organic volume.
Whilst most certainly reading as bearish to begin with, we believe that the BingX debacle is a perfect illustration of the #PikaArmy’s clear-cut principles and bear-market-built backbone.
Delayed Marketing & Poor Organisation
After paying $120k to be listed on BingX, you’d at least expect them to get our ticker correct.
This was partially the case in the announcement below, as whilst the asset was listed as PIKA, the trading pair was listed as ‘PILA/USDT’.
Worse yet, more shoddy marketing was what followed these lacklustre efforts, which ultimately left us feeling even more underestimated and insulted.
Alleged Fake Wash Trading
By failing to prepare, you are preparing to fail…
This is essentially what we believe BingX did on our behalf, as with its nonchalant efforts in garnering trade traffic, as well as its outright errors in communicating critical trading information, PIKA’s organic trade volume on BingX has been non existent.
After we complained about the unsatisfactory performance of those responsible, BingX then allegedly started wash trading the token in order to generate fake volumes (we are not accusing them directly).
This was essentially the straw — albeit a massive one — that broke the camel’s back, as insultingly poor marketing and alleged illicit activities are not what we seek in a CEX partner of ours.
The PIKA/USDT Delisting on BingX
In turn, we made the decision to cut liquidity on the BingX market maker…and we’re now looking to cut ties with the platform completely.
So with this in mind, the PIKA/USDT trading pair will be delisted on BingX.
If you have PIKA on the platform, we suggest simply transferring it to Bitget, MEXC, Bitmart, or Uniswap, or into an Ethereum-supported crypto wallet like MetaMask.
What Doesn’t Kill You Makes You Stronger
Although BingX has warned (or perhaps threatened) that this will be ‘bad’ for the #PikaArmy once announced, we believe that our utmost transparency trumps any bearish partnerships that may come our way.
We also believe that from beginning to end, life is always about lessons…meaning without them, it’s literally impossible to ever learn.
In this case, the lessons for all parties are:
- Don’t take big fees from legit companies and then underperform. It’s also completely naive to discount the inevitability of consequences when it’s the #PikaArmy that you’re messing with (we’re a bear-market-built community that’s impossible to deceive).
- Don’t allegedly wash trade a token to make your exchange look better (no further explanation needed).
- Exchange’s must be held accountable. With thousands of builders and community members having a vested interest in Pikamoon, even the smallest of slip ups deserves scrutiny in our eyes.
Moving Forward
By the time you read this article, the PIKA / USDT trading pair on BingX may’ve been delisted.
Nonetheless, the token is still thriving across Bitget, MEXC, Bitmart, and Uniswap,…meaning in anticipation for PIKA Staking and the Pikamoon Hub, be sure to get your PIKA bags in check.
As these developments (and MORE) unfold, we will continue working with a growing number of crypto exchanges, 250+ Key Opinion Leaders, and other marketing avenues, all in the name of A-grade PIKA evangelisation.
