The Pi Network venture has entered a crucial stage as over 102 million Pi coins were withdrawn from OKX this week. This massive on-chain movement comes amid volatile price action and renewed debate about the token’s long-term value. With Pi Coin trading near $0.81, market watchers closely track on-chain activity and futures market behavior for direction signs.
Pi Network Faces Liquidity Concerns Again
According to data verified on-chain, more than 102.7 million Pi coins were withdrawn from OKX in the past three days. Some transactions exceeded 70 million Pi, suggesting these movements involve high-net-worth entities or institutional players. This unusual activity has intensified scrutiny over Pi Network’s liquidity status and market behavior.
🚀 102.7 Million Pi Withdrawn from OKX: The Awakening Has Begun
The time we’ve been waiting for is no longer ahead of us — it’s happening right now.
In just the past 3 days, a staggering 102,776,657.17 Pi (π) has been withdrawn from OKX, one of the world’s top cryptocurrency… pic.twitter.com/DwhNhTYHcp
— Mr Spock 𝛑 (@MrSpockApe) May 22, 2025
The Pi Coin price dropped by over 3% as withdrawals mounted, resting near the crucial $0.79 support level. Market participants are watching closely for a potential bounce or further downside. The recent pullback follows a brief rally that saw Pi spike to $1.60 before retreating sharply.
Despite this decline, some view the withdrawal trend as a sign of confidence in the Pi Network venture. Supporters argue that large-scale migration to wallets could signal long-term holding intentions. However, others raise concerns about market manipulation anda lack of official communication.
Pi Coin Faces Resistance and Funding Pressure
Pi Coin faces resistance between $0.99 and $1.20, slowing price momentum. The Relative Strength Index hovers near 52, indicating neutral conditions but edging towards oversold. If bulls regain control, the price could test higher resistance levels soon.
Futures trading data reflects a different story, with open interest in Pi Futures surging above $10,000 before declining sharply. This coincided with the short-lived rally in Pi’s price earlier in March. However, a lack of sustained bullish conviction was revealed as price and interest fell.
Meanwhile, funding rates stayed negative throughout most of March, hitting near -0.150% lows. This indicates that short sellers dominated the market, paying fees to hold bearish positions. The persistence of negative funding aligns with continued downward pressure on the token’s price.
Transparency Issues Cloud Liquidity Narrative
During May 2025, Pi Network recorded an unusual migration of 7 million Pi across nearly 19,500 accounts within 24 hours. The pattern suggested some automation and heightened movement, but questions soon followed. Observers noted multiple transfers from Pi’s liquidity reserve to exchanges, including OKX and MEXC.
While these movements align with Pi Network’s tokenomics, the lack of detailed updates from the Pi Core Team is troubling. The community now demands regular transparency reports to ensure confidence in the project’s direction. Many urge the team to clarify future exchange listings and reserve fund strategies.
This could be a pivotal period for the Pi Network venture as it shifts from testing to real utility. The growing on-chain activity points to infrastructure being activated for broader adoption. Still, the project must address liquidity concerns and market stability to maintain momentum.
FAQs
What caused the recent Pi Coin withdrawals from OKX?
Over 102 million Pi were moved off OKX amid growing activity on the Pi Network venture and market repositioning.
Why is Pi Coin facing downward pressure?
The price drop is linked to heavy short selling in futures and uncertainty around large liquidity wallet transfers.
What is the current Pi Coin resistance zone?
Based on recent price action, resistance lies between $0.99 and $1.20, with support holding around $0.79.
Has Pi Network commented on the withdrawals?
No official statement regarding the withdrawals or recent liquidity movements from Pi’s reserve has been issued.
Is the Pi Network venture becoming more transparent?
Not yet. The community continues to call for better communication and regular updates from the Pi Core Team.
Glossary of Key Terms
Pi Network venture – A blockchain-based digital currency project focused on accessible mining and mobile-first user adoption.
Open interest – The total number of outstanding futures contracts that have not been settled.
Funding rate – A periodic payment exchanged between long and short traders in a futures market to keep prices aligned.
RSI (Relative Strength Index) – A technical indicator measuring the speed and change of price movements, used to assess market conditions.
Liquidity reserve wallet – A wallet project used to manage coin supply on exchanges and maintain market balance.
Short selling – A trading strategy where a trader borrows and sells an asset, expecting the price to fall and repurchase it at a lower price.
On-chain activity – Movements and transactions of cryptocurrencies recorded directly on a blockchain.
Support and resistance – Price levels where a cryptocurrency finds buying support or selling pressure.
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