{"id":68649,"date":"2025-05-23T12:05:45","date_gmt":"2025-05-23T12:05:45","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=68649"},"modified":"2025-05-23T12:05:45","modified_gmt":"2025-05-23T12:05:45","slug":"pi-network-news-today-may-23","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=68649","title":{"rendered":"Pi Network News Today: May 23"},"content":{"rendered":"

Pi Network continues to attract widespread attention, with its native token staying in the spotlight amid a wave of bold price forecasts. In the following article, we\u2019ll take a closer look at the most recent announcements, market movements, and strategic initiatives that have kept the project in the headlines over the past few weeks.
\n<\/span><\/p>\n

The Multi-Million-Dollar Initiative<\/h2>\n

Pi Network made the headlines on May 8 by <\/span>teasing<\/span><\/a> its community about an upcoming announcement that <\/span>would be released<\/span> in the following days. <\/span><\/p>\n

The development in question was not mentioned, which allowed industry participants to speculate freely. Some of the guesses included a potential listing of PI on Binance \u2013 a move that wouldn\u2019t lack merit since the company previously <\/span>asked<\/span><\/a> its users if they wanted to see the asset available on the platform.<\/span><\/p>\n

On May 14, the team behind Pi Network lifted the curtain, <\/span>disclosing<\/span><\/a> the launch of a $100 million initiative (held in PI and USD) to invest in startups and businesses that could boost PI\u2019s progress and adoption.\u00a0<\/span><\/p>\n

They shed further details by explaining <\/span>that Pi Network Ventures (as the initiative <\/span>is called<\/span>) was created \u201cwith the Pioneer community at its heart.\u201d They also said it would provide more utility for PI, strengthen the entire ecosystem, incentivize high-quality integrations, and put network effects in action.\u00a0<\/span><\/p>\n

If you\u2019re interested in gaining a deeper understanding of these significant points, please <\/span>take a look at<\/span> our more comprehensive article <\/span>here<\/span><\/a>.<\/span><\/p>\n

Kraken Joins the List<\/span><\/h2>\n

PI began trading on February 20, and initially, the exchanges that embraced<\/a> the asset included Bitget, OKX, and others. Most recently, Kraken also showed support, allowing perpetual futures with up to 20x leverage.<\/span><\/p>\n

$PI<\/a> @PiCoreTeam<\/a> perpetual futures now live with up to 20x leverage<\/p>\n

Why choose Kraken Pro futures:<\/p>\n

40+ collateral options
\n 360+ markets<\/p>\n

Open PI perp https:\/\/t.co\/NHHpKobugb<\/a><\/p>\n

*geo restrictions apply pic.twitter.com\/aiJrJRbxW4<\/a><\/p>\n

\u2014 Kraken Pro (@krakenpro) May 23, 2025<\/a><\/p>\n\n

PI Held on Exchanges\u00a0<\/span><\/h2>\n

Earlier this week, the popular X user MOON JEFF <\/span>revealed<\/span><\/a> that the number of PI tokens stored on cryptocurrency exchanges had reached <\/span>a peak level of<\/span> almost 400 million. A significant portion of more than 117 million assets was held on OKX, while Bitget came second with <\/span>a stash of<\/span> over 107 million.<\/span><\/p>\n

As of this writing, though, things look much different as the total number of PI tokens on exchanges is less than 310 million. Furthermore, OKX is no longer the leader on this front, as its balance has shrunk to roughly 21.6 million.
\n<\/span><\/p>\n

<\/a>PI Stored on Exchanges, Source: piscan.io<\/p>\n

Just a few days ago, some X users <\/span>argued<\/span><\/a> that <\/span>more than 86 million tokens were taken out <\/span>from the crypto platform in <\/span>a matter of<\/span> hours.\u00a0<\/span><\/p>\n

The reduced amount of PI stored on exchanges could <\/span>be interpreted<\/span> as a bullish signal. After all, this might suggest that investors have moved from centralized platforms toward self-custody methods, which reduces the immediate selling pressure.<\/span><\/p>\n

Price Outlook<\/span><\/h2>\n

PI is currently worth around $0.78 (per CoinGecko\u2019s data), which represents a 10% weekly decline and a whopping 74% crash from the all-time high of almost $3 observed in late February.\u00a0<\/span><\/p>\n

However, numerous analysts and community members remain optimistic about the asset\u2019s future price performance. The X user Whale Guru <\/span>expects<\/span><\/a> PI \u201cto pump like crazy next week,\u201d setting $3 as a \u201cminimum\u201d target.<\/span><\/p>\n

For their part, MOON JEFF <\/span>claimed<\/span><\/a> that dumping tokens right now \u201cis not a good option.\u201d He also thinks that \u201cbuying more is the only way.\u201d<\/span><\/p>\n

Investors contemplating whether to <\/span>hop on<\/span> the bandwagon should <\/span>keep in mind the extreme volatility of the asset<\/span> and the upcoming token unlocks.<\/span> Over 280 million PI (worth around $220 million) are scheduled for release next month. May 28 will be the record day when <\/span>15.1 million tokens will be freed <\/span>up<\/span>.<\/span><\/p>\n

<\/a>PI Unlocks, Source: piscan.io<\/p>\n

The aforementioned development could negatively affect the price since it will allow investors to sell tokens they\u2019ve been waiting for.\u00a0<\/span><\/p>\n

The post Pi Network News Today: May 23<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Pi Network continues to attract widespread attention, with its native token staying in the spotlight amid a wave of bold price forecasts. In the following article, we\u2019ll take a closer look at the most recent announcements, market movements, and strategic initiatives that have kept the project in the headlines over the past few weeks. The […]<\/p>\n","protected":false},"author":0,"featured_media":68650,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-68649","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/68649"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=68649"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/68649\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/68650"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=68649"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=68649"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=68649"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}