Pi Network remains popular, with its digital currency frequently making news due to exciting predictions about its future value. This article delves into the latest updates, market fluctuations, and strategic actions that have kept this project in the public eye during the past few weeks.
The Multi-Million-Dollar Initiative
On May 8, Pi Network generated buzz among its followers with hints of a forthcoming announcement set to be unveiled in the ensuing days.
As a crypto investor, it was intriguing to observe the buzz surrounding an unspoken development within our industry. Some fellow participants were even venturing guesses, with one popular theory being the potential listing of PI on Binance – a move that, given the company’s previous inquiry about user interest in the asset, seemed plausible and promising.
On May 14th, the Pi Network team unveiled their plans, announcing the commencement of a $100 million venture (invested equally in PI and USD), which they will use to support startups and businesses that could potentially accelerate the growth and acceptance of PI.
They provided additional information by stating that Pi Network Ventures (known as the initiative) was established with the Pioneer community at its core. They also mentioned that it aims to offer greater functionality for PI, bolster the entire system, encourage premium integrations, and apply network effects.
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Kraken Joins the List
On February 20th, trading for PI started, with platforms like Bitget, OKX, and several others initially offering the asset. More recently, Kraken has expressed its backing, providing an option for perpetual futures contracts with a maximum leverage of 20 times.
$PI @PiCoreTeam perpetual futures now live with up to 20x leverage
Why choose Kraken Pro futures:
40+ collateral options
360+ marketsOpen PI perp
*geo restrictions apply
— Kraken Pro (@krakenpro) May 23, 2025
PI Held on Exchanges
This week, well-known X user MOON JEFF disclosed that the PI tokens stored on cryptocurrency exchanges had surpassed a record high of nearly 400 million. Over 117 million of these assets were kept on OKX, with Bitget holding more than 107 million as the second largest holder.
At present, however, the situation appears quite distinct due to the fact that the overall amount of PI tokens held in exchanges amounts to less than 310 million. Additionally, OKX is no longer dominating this area as its holdings have significantly decreased to approximately 21.6 million.
A short while ago, some users of X expressed concern over approximately 86 million tokens allegedly withdrawn from the cryptocurrency platform within a few hours.
The diminished quantity of PI held on exchanges might be seen as a positive sign, or a “bullish” indicator. This could mean that investors are shifting their assets towards self-custody options, thereby lessening the instantaneous selling pressure.
Price Outlook
Presently, Pi’s value is approximately $0.78 according to CoinGecko (as of current data), which reflects a 10% decrease over the past week and a substantial 74% drop from its all-time high of nearly $3 reached in late February.
Despite some reservations, many analysts and community members remain hopeful about the asset’s future price growth. The user Whale Guru predicts that PI will significantly increase in value during the upcoming week, with a minimum target of $3.
Moon Jeff himself stated that “dumping tokens at this moment isn’t advisable.” Additionally, he believes that “the wise choice would be to buy more.
Potential investors might want to carefully consider their decision before jumping into this venture, taking into account the asset’s high volatility and the impending token unlocks. Approximately 280 million PI (valued at around $220 million) are set for release next month, with May 28 being a significant date as 15.1 million tokens will be made available then.
The previously mentioned growth might lower token prices because it gives investors an opportunity to offload tokens they’ve held onto.
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2025-05-23 15:53