Pi Coin Supply on Exchanges Surges 30% Amid Sell Pressure

Pi Network’s PI coin supply on centralized exchanges has surged by over 30% in the second quarter of 2025, indicating increased sell pressure amidst uncertain market conditions. This rise in supply, from 263 million in early March to 345 million by June, suggests that more coins are being moved to exchanges, potentially for sale. This trend is concerning as it typically signals mounting sell pressure, which could negatively impact PI’s price in the near term.

Investor Moon Jeff highlighted this trend, noting that the number of PI coins on exchanges has been rising consistently. Additionally, outflows from wallets associated with the Pi Foundation team have been observed, suggesting possible transfers of coins to exchanges or other uses. This combination of rising exchange supply and team wallet outflows could intensify selling pressure, potentially driving PI prices downward.

While the supply of PI coins on exchanges has increased, trading activity has sharply declined. Weekly trading volume for PI dropped from $5.4 billion in mid-May to under $500 million recently, a decline exceeding 90%. This drastic reduction in trading volume undermines market depth and liquidity, making the price more vulnerable to sharp declines if selling pressure intensifies.

Market analysts on social media platforms have noted that PI is at a critical juncture. The X account Pinetworkmember forecasted that PI’s price could either plunge to $0.1 or rebound to $1.7, depending on market dynamics and community response, though current indicators lean bearish. Further downward pressure is expected from upcoming token unlocks, with approximately 337 million PI tokens scheduled for release within the next 30 days. This influx could exacerbate sell pressure and price volatility.

Despite the bearish trends in supply and volume, many Pi Network Pioneers remain focused on the Global Consensus Value (GCV) of $314,159 rather than current market prices. This strong community conviction is reflected in the majority of PI tokens—over 4 billion—remaining in Pioneer wallets rather than on exchanges. Some community members have chosen to hold their PI tokens without selling, yet they are hesitant to increase their holdings until the Pi Core Team demonstrates clearer progress on project development and milestones.

This steadfast community support could prove pivotal in stabilizing PI’s price and fostering long-term growth, even as short-term market indicators signal caution. Investors and observers should closely monitor on-chain data and community developments as PI navigates this critical phase.