OKX Launches PI/USDC Pair as Pi Network Faces Liquidity Questions

OKX has introduced a PI/USDC trading pair to its platform. This gives Pi Network’s community more direct access to liquidity.

OKX Expands Pi Network Access

The Times of PI Network shared in a recent X post that OKX has launched the PI/USDC pair on its platform. The launch of the pair is designed to provide stability and ease of use for traders. 

This helps Pi Network tap into one of the most widely used stablecoins in the market. It will also give investors a more reliable entry and exit point. OKX had rolled out 12 other USDC trading pairs, positioning Pi side-by-side with assets such as BTC, ETH, DOGE, and XRP.

Notably, OKX has been a strong backer for the Pi Network since it first listed Pi shortly after the Open Network went live. The exchange also controls a large portion of Pi’s daily trading volume. With this move, the exchange further cements its role in Pi’s market visibility.

This comes after a Pi Network moderator hinted at the possibility of a second mainnet migration in 2025. This raised hopes among Pioneers who are waiting for delayed referral bonuses and unverified balances to be settled. This new OKX pairing could help investors by offering a more stable and liquid market environment.

Pi Price Struggles Amid Thin Liquidity and Growing Exchange Reserves

While the new pair is intended to increase liquidity, Pi Network has continued to struggle with a sharp decline in market activity. According to CoinMarketCap, Pi’s trading volume has plunged from $18 billion in March to just $2.4 billion in July. This represents an 83% drop.

Furthermore, data from PiScan shows that exchange reserves of Pi have risen exponentially since March. The total currently reads 409,332,401. Analysts warn that this trend points to growing selling pressure from traders rather than fresh buying interest.

In other developments to grow its utility,  the Pi Core Team launched the Pi Hackathon. Developers are encouraged to build decentralized applications (dApps) that bring real-world utility to the Pi coin. Participants stand to win up to 160,000 PI in prizes, equivalent to about $60,800.

The community’s reaction to this project has also been conflicting. Some Pioneers criticized the initiative, saying that past events did not lead to significant adoption. Additionally, Pi’s social presence dropped to a weekly low, showing a decrease in visibility on social media.

However, a crypto analyst has projected an upside for the token. They highlighted the $0.60 price level, stating it represents Pi’s strongest resistance. If this barrier is broken, the charts suggest a volume gap above, which could allow Pi’s price to climb more easily.