Main Highlights:
- Over 86 million PI tokens withdrawn from OKX trigger an upward wave, resulting in an 11.4% price surge within 24 hours.
- Allegations arise that the Pi Network Core Team sold 50 million PI tokens after the Consensus 2025 conference.
- The community demands more transparency regarding token management.
86 Million PI Tokens Withdrawn from OKX
On May 21, more than 86 million PI tokens were withdrawn from crypto exchange OKX within just a few hours, according to data shared by PI.Next.Gen – a popular X account focused on Pi Network news.
Blockchain data shows that only 21 million PI tokens remain in OKX’s wallet. The sudden and large-scale withdrawal caused a “supply shock” – a phenomenon that often leads to price increases in crypto markets.
Supporters of the project believe this could spark a sustained upward movement for the PI token in the coming days.
PI Token Price Analysis
- Early May: PI trades around $0.6141
- May 1–7: ranges between $0.5791 and $0.6141
- May 8: price jumps by 10.66%, breaking the range
- May 8–13: token surges by over 112.31%
- May 14–17: correction of -43.95%
- May 18–21: PI recovers by +19.6%, including +11.4% in the past 24 hours alone
- Current price: $0.8268
Optimism was reignited following remarks by Pi Network’s founder and CTO, Dr. Nicolas Kokkalis, during Consensus 2025, where he shared his vision for how AI and blockchain will accelerate global Pi adoption.
Core Team Accused of Selling 50 Million PI Tokens
Following the Consensus 2025 conference, the community raised claims that the Pi Network Core Team sold up to 50 million PI tokens for profit. This sparked backlash and calls for transparency.
A popular Pi supporter, Dao World, responded on X, stating that the accusations are unconfirmed and lack blockchain-based evidence.
However, he confirmed that nearly 10 million PI tokens were moved between February 27 and March 4, some of which may have been sold. Dao emphasized that this amount is negligible compared to the 7.17 billion PI tokens already migrated and is likely in line with the project’s whitepaper.
Historical Movements and Price Impact
- February 20–26: PI token surged by 2,721.9%
- February 27–March 4: following the transfers, PI experienced its first major correction of -40.93%
This pattern of rapid expansion followed by corrections fuels speculation about internal token management and its influence on market behavior.
Conclusion:
The recent events around Pi Network – from the massive token withdrawals from OKX to price volatility and leadership accusations – highlight a critical period for the project.
Despite this, the community remains bullish, but the pressure for increased transparency, a clear roadmap, and responsible team conduct is mounting day by day.
Frequently Asked Questions
Find answers to the most common questions below.
Over 86 million PI tokens were withdrawn from OKX, creating a supply shock that drove the price up by over 11% in 24 hours.
The community raised concerns about a potential sell-off, but no conclusive on-chain proof has been shared. Some analysts confirmed smaller transfers.
While the price saw a positive rebound, ongoing demand for transparency and clarity from the team will be crucial for sustained community trust.
This article is for general informational purposes only and is not intended to be, and should not be construed as, legal or investment advice. Crypto-assets are highly volatile, so only invest funds you are willing to lose and use your own research and risk management.
