Pi Network Activity Soars as Mystery Wallet Acquires Millions in PI Coins

HIGHLIGHTS A wallet labeled “ODM” has rapidly accumulated millions of $PI tokens. Speculation points to it being a possible buyback wallet managed by the $Pi Core Team (PCT). The recent surge in wallet activity could be a strategic move to mitigate this volatility. $Pi Network is attracting attention because a wallet called “ODM” has quickly bought millions of $PI tokens. This has sparked considerable speculation in the community about the wallet's purpose and its potential impact on the network.

$Pi Network Activity Surges Amid Massive Accumulation
Data from PiScan shows that a mysterious "ODM" wallet received 2.8 million $Pi tokens from the OKX exchange. Earlier this month, this wallet also withdrew 3.5 million $Pi tokens. Now, it holds about 315 million $Pi tokens in total. This amount is significant enough to affect liquidity and token distribution in the $Pi Network ecosystem.


This buying spree has fueled talk that the wallet could be controlled by the $Pi Core Team (PCT) itself. Some observers believe this might be a buyback wallet that is buying $PI tokens in preparation for a possible new listing on an exchange.

Within the $Pi Network community, theories abound. Some community members have even dubbed ODM the “new Satoshi wallet,” likening its strategic accumulation to Bitcoin’s early mysterious holdings. 

Notably, some believe that large wallets, such as ODM, often appear before important events in the ecosystem. Similar patterns happen when blockchain networks announce big upgrades, start new liquidity pools, or form partnerships with institutions.
Is $Pi Team Buying Back This Amid Large Unlocks?
Speculations have risen that this may be the $Pi Core team’s move to stabilize prices or build reserves for future DeFi tools and ecosystem grants. A few powerful holders can, in theory, influence market prices, liquidity events, and sentiment.

If the ODM wallet is confirmed as a buyback wallet, it may serve multiple roles. This involves balancing the number of tokens available, improving liquidity pools for decentralized exchanges, and funding hackathons and developer grants. Changes like this could help boost investor confidence in the token's potential for growth.

The increase in wallet activity comes at a critical time for $Pi Network, as investors worry about its long-term future. As CoinGape reported, investors expressed concerns about its planned unlocks, which might lead to heavy selling pressure. Historically, large token unlocks have triggered steep declines in other crypto assets, particularly when market demand fails to absorb the newly released supply.

The price of $Pi Coin has remained largely unchanged due to persistently high volatility, despite recent updates, including the release of $Pi Node v0.5.3. However, there is now more conjecture that the recent activity surrounding the enigmatic ODM wallet could be an insider's calculated attempt to stabilise the token.