About 300,000 PI tokens left centralized exchanges over the past 24 hours as the PI price hovered around $0.16, and the move came as Pi Network marked one year since the launch of its Open Network.
Summary
- More than 305,000 PI tokens recorded a net 24-hour outflow from centralized exchanges, with total CEX balances of nearly 430.1 million PI, according to PiScan data.
- The outflow comes as Pi Network marks the one-year anniversary of the launch of Open Network, highlighting growth in KYC approvals, mainnet migrations and developer participation.
- PI is trading around $0.162, with resistance at $0.18 to $0.20 and key support at $0.15, while momentum indicators are showing mixed signals.
The anniversary highlights Pi Network’s growth in terms of KYC approvals, mainnet migrations, developer participation and general network activity.
In a recent one updatesaid the Pi Core Team that since Open Network went live, the project has expanded “across multiple dimensions of the ecosystem, from KYC and Mainnet migrations to developer activity and overall network participation.”
The team added that the milestones reflect steady progress driven by “Pioneers, developers, companies and KYC validators around the world,” pointing to the ecosystem growth rates achieved over the past year.
The anniversary update comes because data from the chain indicates a shift in exchange flows.
According to PiScan factscentralized exchange wallets recorded a net 24-hour outflow of approximately 305,547 PI tokens (PI), with a total exchange balance of almost 430.1 million PI. OKX alone recorded net outflows of over 623,000 PI during the period, offsetting smaller inflows on platforms like Bitget and Gate.io.
The outflow from exchanges is often interpreted as a reduction in immediate liquidity on the sell side, as tokens withdrawn from exchanges are less readily available for spot sales. Although the size of the outflow remains modest relative to the total supply, it coincides with a renewed community involvement following the network’s anniversary.
PI price analysis
On the daily PI/USDT chart, the price is currently trading around $0.162, up about 1.3% from the session. The broader trend since January has seen a steady decline from a high around $0.21, followed by a sharp recovery towards $0.19 in mid-February.
That recovery has since faded, with PI forming lower highs. Immediate resistance is around $0.18, while a stronger barrier remains around $0.19-$0.20, where previous rallies stalled. On the downside, $0.15 acts as key support, with a break below that level potentially exposing the $0.13 region.
The momentum indicators are mixed. The Balance of Power reading has turned positive at 0.30, indicating short-term buying interest, but the Chaikin Money Flow (CMF) remains negative at -0.16, indicating that broader capital flows are still skewed to the downside.
If foreign exchange outflows continue and buying pressure increases, PI could attempt another move towards $0.18. However, the inability to hold above $0.15 would likely reinforce the prevailing bearish structure.
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