The post Pi Network Price Dips 1.03% Amid 15.7M Token Withdrawals from OKX appeared first on Coinpedia Fintech News
Pi Coin (PI) Price has slipped 1.03% to $0.259 today, even as over 15.7 million tokens were withdrawn from OKX following the exchange’s reopening of withdrawals. This price decline reflects persistent selling pressure and cautious market sentiment, despite large outflows, which are often interpreted as a sign of long-term holding confidence. With 138.2 million Pi tokens set to unlock in October, investors are closely watching how the combination of outflows and oversupply will impact Pi Coin’s short-term price performance.
Pi coin – OKX Withdrawals
OKX, the first exchange to list Pi Coin, temporarily suspended withdrawals for wallet maintenance. Pionex, another platform supporting Pi, implemented a similar pause, sparking concern within the Pi Network community. Many users speculated on X that such pauses “often occur before technical upgrades or mainnet integrations,” hinting that Pi Network could be preparing for significant upcoming developments.
Once withdrawals resumed, more than 15.7 million Pi tokens left OKX, with total outflows across all exchanges reaching 17.5 million tokens in 24 hours. Typically, moving coins off exchanges signals investor confidence in long-term holding, yet the continued price drop shows that market caution and potential selling pressure remain dominant factors.
Rising Exchange Reserves Signal Selling Pressure
Despite the withdrawals, overall Pi Coin reserves on exchanges have been climbing, from 263 million in March to over 433 million now—a 65% increase in less than a year. This trend indicates that while some investors withdraw tokens, a growing portion remains on exchanges, potentially ready to be sold. The buildup of Pi tokens on exchanges reflects ongoing selling pressure, which continues to limit upward price movement.
Oversupply Adds to Market Challenges
The upcoming unlock of 138.2 million Pi tokens in October adds further pressure. An influx of new tokens into circulation could weigh heavily on Pi Coin’s price, especially in a market already showing caution. Recent developments, including Pi Network’s new DeFi tools and token creation features, have yet to generate significant price gains, leaving Pi underperforming compared to other major cryptocurrencies.
What’s Next for Pi Coin Price?
Investors are closely monitoring whether technical upgrades, mainnet transitions, or broader market trends can stabilize the token. While large withdrawals may support long-term confidence, oversupply and growing exchange reserves suggest that Pi Coin could face continued downward pressure in the short term. The coming weeks will be crucial in determining whether Pi Coin can regain momentum or continue its slide amid selling pressure and cautious sentiment.
Pi Coin’s performance today highlights the delicate balance between supply, demand, and investor sentiment in the altcoin market. As one investor on X noted,
“Pi withdrawals show long-term confidence, but oversupply may keep prices suppressed.”
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