Over 15.7 Million Pi Coins Withdrawn from OKX Amid Market Uncertainty

More than 15.7 million Pi Coins (PI) were withdrawn from OKX within the past 24 hours, shortly after the exchange resumed withdrawals following a temporary suspension. The pause, attributed to wallet maintenance for enhanced security, had stirred discussion among Pi Network users—commonly known as Pioneers—who speculated that the move could precede major technical upgrades or mainnet integrations.

Interestingly, Pionex, another major crypto exchange, also implemented a similar withdrawal suspension, fueling further speculation about coordinated updates across platforms. Once OKX reopened withdrawals, the market saw a massive outflow of tokens. According to PiScan data, over 17.5 million PI were withdrawn across all exchanges during the same period, indicating renewed investor movement.

Typically, large withdrawals from exchanges signal investor confidence and long-term holding. However, despite the significant outflow, Pi Coin’s price declined by 1.03% over the last 24 hours, currently trading at $0.259, suggesting lingering caution among traders.

Data also shows that overall exchange reserves have grown—from 263 million PI in March to over 433 million in October, marking a 65% increase in supply. This accumulation trend may indicate rising selling pressure, contradicting the optimistic narrative that outflows usually represent.

Adding to market concerns, Pi Coin faces an upcoming token unlock of 138.2 million PI in October, which could intensify price volatility. Despite ongoing ecosystem developments, including new DeFi tools and token creation features, Pi’s market momentum remains subdued.

The recent withdrawals highlight both growing ecosystem activity and uncertain sentiment surrounding Pi Coin’s long-awaited mainnet transition, leaving investors cautiously watching the next moves.