Whale Activity Sparks Pi Network Speculation Ahead of Potential Listing

Finance

Whale Activity Sparks Pi Network Speculation Ahead of Potential Listing

A mysterious Pi Network wallet has stirred excitement and suspicion across the crypto space after quietly amassing over 331 million PI coins—worth approximately $148 million—during a period of significant price decline.

Identified by the address GAS…ODM, the wallet has been actively pulling large amounts of Pi from exchanges like OKX, MEXC, and Gate.io over the past three months.

Despite Pis sharp drop from its May peak and its underperformance during the recent altcoin rally, the buying has only accelerated.

Whats raising eyebrows is not just the volume, but the timing. With Pi currently trading near $0.44—over 30% down from last month—many in the community see the accumulation as more than just opportunistic. Some speculate the wallet is linked to the Pi Core Team and could be part of a buyback strategy to manage supply during token unlocks. Others believe it may belong to a major exchange preparing liquidity ahead of a long-awaited listing.

The wallet now ranks among the top holders in the Pi ecosystem, surpassing balances of some major exchange wallets. However, neither the Pi Core Team nor any exchange has confirmed ownership, keeping the mystery intact.

Regardless of the source, the wallets steady activity has injected renewed optimism into the Pi community—even as the broader altcoin market has rallied over 30% in July, leaving Pi trailing behind.