Over 86 Million PI Tokens Withdrawn From OKX Exchange on May 21

On May 21, 2025, over 86 million PI tokens were withdrawn from the OKX crypto exchange. The data came from Pi Next Gen

A massive withdrawal of over 86 million PI tokens from the OKX crypto exchange on May 21 has sparked a sharp response in the market, leading to an 11% surge in Pi Network's price within hours, according to data from CoinGecko.

As the community monitoring account, Pi Next Gen, on X pointed out, OKX's total PI holdings were reduced to just 21 million tokens following the transfer, which triggered a significant shift in market sentiment.

"This isn't just a withdrawal, it's a POWER MOVE by the Pi community," the account wrote in a post. "Scarcity is kicking in, and the market is feeling the heat."

No official response from OKX has yet clarified the reasons for the transfer or identified the wallet owner.

The massive outflow of PI tokens also coincided with a noticeable spike in price. Investors often interpret large exchange withdrawals as a sign that holders plan to keep assets off trading platforms, which reduces the available supply and can sometimes affect short-term price movement.

Following the day of the transfer, PI token also became one of the most searched assets on CoinGecko, as community posts pointed to a coordinated move to reduce supply pressure.

While this aspect remains largely speculative, the visible shift in liquidity certainly led to immediate market effects.

"Pioneers are draining the supply, and the price is about to explode," a second post by Pi Next Gen stated.

The keyword "Pi Network price" also began trending across several crypto platforms as interest in the token spiked.

Despite the price increase, Pi Network has still not secured a listing on any major crypto exchanges like Binance. This lack of exchange support continues to limit trading volume and visibility for the token.

Moreover, the circulating supply of PI remains unverified on top data aggregators. Both CoinMarketCap and CoinGecko still do not show up-to-date information on the actual circulating supply.

"If CoinMarketCap and CoinGecko would only update the actual circulating supply... investors would really see the actual scarcity of Pi coin," one community member commented.

The unconfirmed supply figures continue to cause confusion among traders, especially in the absence of clear metrics from official sources. As one user noted, "Isn't the circulating supply supposed to be 700 billion?"

In the absence of such data, traders rely on third-party community data for market context, which may be biased or incomplete.