- ODM wallet withdraws 2.8M PI from OKX.
- Community speculates on buyback motives.
- PI price experienced slight increase post-withdrawal.
The ODM wallet has withdrawn 2.8 million PI from the cryptocurrency exchange OKX, raising its holdings above 315 million PI. This substantial movement brings speculation about a potential Pi Network buyback.
Unidentified entities control the ODM wallet, with the Pi Core Team speculated but not confirmed as being involved. The lack of official updates has stirred further community speculation regarding potential overarching market moves.
The price of PI experienced minor volatility amidst the withdrawal news. As market participants react, PI’s current trading price is $0.44810, hinting at possible PI price stabilization.
Although there is increased scrutiny on PI’s liquidity, no related changes in ETH, BTC, or other altcoins appear linked. The community continues demanding more transparency from the Pi Network leadership. Community sentiment is highly polarized, with some hoping for price stabilization and potential major listing preparations, while others raise concerns about centralization and lack of transparency: source.
Market responses may lead to increased exchange liquidity monitoring owing to these unique wallet activities. The market remains watchful, waiting to see if more exchanges reflect these movements.
The absence of official or regulatory responses suggests caution for investors, with parallels to early Bitcoin centralization debates. Historical comparisons to Satoshi’s large wallets may further influence community sentiment.
