Pi Network recorded significant token outflows from centralized exchanges this week, with over 1.2 million coins moving to self-custody wallets in the past 24 hours. The native token currently trades around $0.20 after recovering from a midweek low of $0.19, though it remains in negative territory on weekly and monthly charts.
What Happened: Exchange Outflows
Data shows approximately 428 million PI tokens remain on centralized platforms, with more than half stored on Gate.io. Bitget holds the second-largest position with 147.6 million tokens.
The recent exodus from exchanges typically signals reduced selling pressure, as tokens moved to self-custody are less likely to hit the market immediately.
Additionally, upcoming token unlocks appear less aggressive than previous months, with nearly 165 million coins scheduled for release over the next 30 days—averaging roughly 5.5 million tokens daily.
Also Read: Bitcoin Traders Maintain Long Positions While Ethereum Derivatives Turn Bearish
Why It Matters: Community Division
Market observers remain split on the token's prospects.
