Whales Accumulate 20M Pi Coins on OKX Amid Supply Squeeze, Echoing Bitcoin’s Early Days

In a striking development reminiscent of Bitcoin’s early market dynamics, significant investors—often referred to as ’whales’—have aggressively accumulated Pi Network’s native token (PI), causing a supply crunch on major exchanges. Notably, a single entity purchased 20 million PI coins worth approximately $14 million on OKX before transferring the holdings to private custody. This MOVE is widely interpreted as a long-term bullish signal for the cryptocurrency. The withdrawal of such a substantial volume from trading platforms has drawn parallels to Bitcoin’s early years, when large accumulations by whales often preceded major price rallies. As of May 2025, this activity highlights growing institutional interest in Pi Network and underscores OKX’s role as a key liquidity hub for emerging digital assets.

Whales Accumulate 20M Pi Coins Amid Supply Squeeze, Drawing Bitcoin Parallels

Significant investors are aggressively accumulating Pi Network’s native token, triggering a supply crunch on major exchanges. A single entity purchased 20 million PI coins worth approximately $14 million on OKX before transferring the holdings to private custody—a move interpreted as a long-term bullish signal.

The withdrawal of such substantial volume from trading platforms mirrors early Bitcoin market dynamics when institutional interest first emerged. Exchange inventories are tightening as PI coins migrate to cold storage, creating upward price pressure reminiscent of BTC’s 2011-2013 accumulation phase.

Market participants note striking similarities between current PI network activity and Bitcoin’s formative years, when few recognized the asset’s potential. The token’s recent price action and whale accumulation patterns suggest growing institutional conviction in PI’s underlying technology and adoption trajectory.

Pi Network Surges 35% to $1.29 as Whales Drive Market Frenzy

Pi Network’s price skyrocketed 35% in the last 24 hours, reclaiming the $1 level and peaking at $1.29. The rally propelled Pi’s market capitalization beyond $8 billion, overtaking Litecoin and Bitcoin Cash in valuation rankings.

Institutional investors triggered the surge with massive coin movements—70 million Pi withdrawn from exchanges initially, followed by another 20 million shifted off OKX. Retail traders piled in, boosting trading volumes by 278% to over $1 billion.

While LTC and BCH saw modest gains, Pi’s outperformance highlights its growing dominance among mid-cap tokens. The network now ranks among the top 20 cryptocurrencies by market value.