The post PI coin tests new lows as trading volume dips and CEX supply spike add pressure appeared on BitcoinEthereumNews.com.

The supply of Pi Network (PI) tokens held on centralized exchanges (CEXs) has surged more than 30% over the past three months. Trading activity for the coin has also collapsed by over 90%, on-chain data shows. The contradictory metrics has prompted some analysts to warn investors of immense sell pressures and a possible downward price action. According to updated data tracked on Piscan and exchange wallet dashboards on Wednesday, the total number of Pi coins stored across exchanges has grown from 263 million in March to 345 million in mid-June 2025.  As of the latest reading, CEXs now collectively hold 346.8 million PI tokens. The rise in supply is against the backdrop of a decline in trading volume, falling from over $5.4 billion weekly in May to under $500 million this week. Exchange balances rise spells sell-side risk  Detailed data from several top exchanges shows that OKX, ranked fourth on CoinMarketCap, currently holds over 28.5 million PI tokens, despite having a net outflow of 741,272 PI in the last 24 hours. Bitget, which holds the second-largest volume at 118.5 million PI, also recorded a negative 24-hour net flow of 171,036 coins. PI balance on CEX wallets. Source: Piscan Gate.io, with 163.2 million PI, is the highest among the observed CEX wallets, registering a 24-hour net outflow of over half a million coins. Overall, centralized exchange wallets processed more than 8 million PI in deposits and over 9.2 million in withdrawals in the past day alone.  The withdrawals resulted in a net daily outflow of 1.13 million PI from CEXs, yet the total wallet holdings are still on the rise, even as new inflows arrive faster than existing withdrawals. The cumulative dollar value of PI stored on these exchanges now stands at approximately $187.9 million. Outflows from Pi Foundation wallets rattle…

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Filed under: News - @ June 18, 2025 12:25 pm