Pi Coin News: Insider Turmoil and Token Surges Shake Pi Network As Transparency Demands Grow Louder

Business Mayor

24-05-2025

Pi Network's community, once united by its vision of a mobile-mined, egalitarian cryptocurrency, is increasingly fragmented. In mid-May 2025, over 102.7 million Pi tokens were suddenly withdrawn from cryptocurrency exchange OKX in just three days, sparking volatility and suspicion of insider activity. The surge in Pi Coin transactions—some exceeding 70 million tokens per move—has heightened fears of centralisation and lack of transparency within the Pi Network, even as its token, priced at approximately $0.79, continues to fluctuate sharply from its early 2025 peak of $2.99. Blockchain researchers and analysts now point to troubling signs of internal wallet manoeuvring according to a report by Brave New Coin. These include reports of dormant Foundation-controlled wallets reactivating and selling millions of tokens, further fuelling scepticism over whether Pi Network is truly decentralised, as it has long claimed to be. Key Developments: Price Instability, Insider Concerns
The Pi Coin has dropped over 4.8 per cent in the past 24 hours, despite showing a 30 per cent monthly gain. Analysts argue that large-scale token unlocks and strategic sell-offs are depressing the price and creating instability. The token is now facing strong resistance around the $0.90 mark and could dip as low as $0.66 if selling pressure intensifies, warns crypto.news, citing bearish flag patterns on trading charts. 'The PI Coin value is forming a bearish flag,' reported crypto.news, 'with the risk of a drop toward $0.66 if selling pressure intensifies.' Meanwhile, Dr. Altcoin, a well-known blockchain investigator, flagged that more than 1.4 million Pi tokens were sold on Gate.io from a wallet allegedly linked to the Pi Foundation, raising red flags.'It's not about FUD,' said Dr. Altcoin on X, 'It's about accountability, transparency, and fair participation in a network that has claimed to be for the people.'
He further estimates that wallets believed to be under the control of the Pi Foundation currently hold more than 90 billion tokens. Planned Unlocks Stir Market Fears
Adding to concerns is the scheduled unlocking of over 1.47 billion Pi tokens in the next 12 months, with 110 million already released in May 2025. While part of a previously announced tokenomics roadmap, the scale and timing of these unlocks—coinciding with insider activity—are shaking investor confidence. '1.4 million Pi moved from an old Foundation wallet to a new one, then sold on Gate.io—fueling insider concerns,' stated Dr. Altcoin, citing on-chain transaction data. Community Frustration Grows Amid Transparency Demands Pi Network's community, once united by its vision of a mobile-mined, egalitarian cryptocurrency, is increasingly fragmented. Longstanding issues with Know Your Customer (KYC) processes, limited utility, and the absence of a mainnet migration for most users have resulted in mounting dissatisfaction.'There are no substantial DeFi projects or dApps built on Pi crypto yet,' a market commentary cited by Brave New Coin noted, adding that, 'Without real use cases, the Pi token price will struggle to sustain any meaningful upside.' Despite launching a $100 million venture fund for dApp development, the Pi Network still lacks key listings on major exchanges like Binance, further reducing liquidity and trader interest. Optimism Endures—But So Do Doubts Some supporters remain hopeful. Crypto influencer Mr. Spock commented that,'While doubters watched from the sidelines, true Pioneers kept mining, building, and believing — and now, the results are beginning to show,' as quoted by Brave New Coin. Another user added, 'This is no longer a testnet experiment—Pi Network Coin is stepping into the real world.'
However, until the Core Team addresses issues around token distribution, wallet transparency, and ecosystem utility, Pi Network risks losing trust at a critical juncture of its growth. Analysts warn that future performance will hinge on whether these structural weaknesses are tackled head-on.
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