Pi Network's Price Will Be Displayed Double-Digit Growth as Smart Money Rotates Out of Memes and Into AI

Hedera's price displayed double-digit growth last year as smart money moved to AI tokens instead of memes. Now trading near $0.20, HBAR stands out as one of the most promising altcoins in the top 20.

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Despite still lacking a clear use case and the initiative for its development being in the planning stages, interest in Pi Network (PI) is heating up.

This is partly due to the recent announcement of a $100M venture capital fund to invest in promising Web3 projects and startups on the Pi Chain.

But it seems that another factor that could affect the price of PI is a series of large-scale token withdrawals from a major cryptocurrency exchange.

According to data from blockchain analytics platform Tokenview, a total of 102 million PI tokens were withdrawn from cryptocurrency exchange OKX in three days.

The first withdrawal took place on December 12, with 30 million PI tokens transferred out of the exchange’s mainnet wallet.

The second withdrawal occurred on December 13, with another 32 million PI tokens leaving the exchange’s wallet.

Finally, the third and largest withdrawal was executed on December 14, as 40 million PI tokens were withdrawn from OKX.

This series of large-scale withdrawals has sparked speculation among crypto traders about potential insider selling at play.

It is known that the core team of Pi Network is developing a new chain and may be planning to launch a $100M venture capital fund to invest in promising Web3 projects and startups on the Pi Chain.

In addition, there are claims that the core team’s wallets could hold as much as 90 billion PI tokens, which would make it one of the largest cryptocurrency holdings in the world.

At the time of writing, PI is trading at $0.79 and shows no signs of slowing down. Its price has surged more than 350% over the past seven months, fueled by a viral social media campaign and interest in new technologies like the metaverse and artificial intelligence (AI).

Recently, Kraken launched perpetual futures trading for Pi Network with up to 20x leverage via Kraken Pro.

This marks PI’s debut on a major derivatives platform and is seen by some as a sign of growing institutional interest in the cryptocurrency.

However, despite the launch of futures trading, PI’s price has dropped by 5% over the past 24 hours and is currently down 2% over the past seven days.

As futures trading brings more liquidity to the market, it is likely to lead to increased volatility in both directions as traders open leveraged long and short positions.

This move by Kraken comes amid reports of several large-scale token movements from a core team-tied wallet.

Earlier this week, blockchain analytics firm Tokenview reported that a single wallet withdrew 70 million PI tokens from cryptocurrency exchange OKX.

This sparked speculation among crypto traders about potential insider selling at play.

Earlier this year, Hedera’s price displayed double-digit growth as smart money moved to AI tokens instead of memes.

Now trading near $0.20, HBAR stands out as one of the most promising altcoins in the top 20.

Some analysts believe Pi Network