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PI holds $0.16 as 778K tokens leave exchanges: rebound brewing?

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Pi Network Price
Pi Network Price
  • PI price rose slightly on Tuesday, with buyers testing resistance above $0.16.
  • Holder balances on centralized exchanges have reduced by over 700,000 PI tokens over the last 24 hours.
  • The technical outlook for PI is mixed amid overall bearish sentiment.

Pi Network’s token is showing some resilience amid broader crypto market weakness, with price retesting resistance above $0.16 despite key losses for Bitcoin and major altcoins.

The PI token traded to its intraday highs on a slight uptick in daily volume as on-chain data reveals a sharp decrease in token balances on centralized exchanges (CEXs).

While the upward move from lows of $0.13 on February 11 suggests bullish resilience, PI must extend gains above the latest barrier level to give buyers an upper hand.

Testing the key level amid broader crypto sentiment means a potential downward flip could follow if profit-taking deals mount.

Pi Network sees over 700,000 PI exit exchanges

PiScan data reveals CEX balances have shrunk sharply in the past 24 hours, with more than 778,434 PI tokens leaving CEXs such as OKX, Bitget, and MEXC.

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The outflows suggest strong holder conviction, and are key to the reduced selling pressure currently helping bulls hold the advantage.

Net outflows indicate accumulation rather than distribution.

Buyers could capitalize on this outlook to drive prices higher, more likely if the broader market sentiment improves.

Despite CEX outflows, the PI price is signalling upside potential amid Pi Network’s Open Network expansion.

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The project has accelerated its KYC verifications and mainnet migrations.

Meanwhile, the Pi Core Team sees  milestones such as the release of details on the Ecosystem Token Design as crucial steps.

The Pi Request for Comment (PRC) for community input is among ecosystem developments that are adding to investor confidence.

Pi Network technical outlook

Despite the intraday gains, Pi Network’s price remains 9% down this past week.

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The token is also in the red over the past month and year-to-date time frames, about 11% and 20%, respectively.

PI’s technical picture shows sentiment is largely bearish, with oscillators neutral. However, moving averages are leaning “strong sell”.

PI Price Chart
Pi Network price chart by TradingView

Bulls could muster upward momentum if prices stabilize above the $0.15. Support here and increased volume could allow PI to target $0.18 and then $0.27.

However, bears may yet dominate if bulls fail to hold above a downtrend line going back to the October 10, 2025, crash.

Should short-term losses accelerate below $0.15, major support lies around $0.13, an area that marked PI’s all-time low on Feb 11.

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Indicators like MACD and RSI on the daily chart are offering a mixed outlook.

The MACD suggests a bearish crossover, while the RSI sits at 46 and outlines a possible leg up.

PI price, like most cryptocurrencies, will likely track risk asset sentiment and performance in the short term. Macroeconomic and geopolitical factors will be key catalysts.

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Crypto World

Argentina Blocks Polymarket as Crackdown on Prediction Markets Expands

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Crypto Breaking News

Court Orders Remedial Reflex

In Buenos Aires, a court directed regulators to impose tight controls of access. The telecom regulator ENACOM also liaised with the internet companies to shut down the site. Google and Apple were also asked to take the app out of their stores. The reason why these actions are taken is to restrict access to the users in the country.

This has caused regulators to tighten their belts due to apprehension caused by activity associated with inflation data. It was reported that the platform made predictions of Argentina’s inflation rate in February before it was officially released. Besides, authorities reported that the prediction was altered minutes before publishing. This chain of events triggered the need to further research how the platform functions.

Researchers came to the conclusion that the platform served as a web-based betting platform. Regulators also said it enabled the users to participate in wagering without licenses. Also regulators were worried about access by minors. These results resulted in even tougher steps to be taken against the platform.

Latin America’s Crackdown Continues

The move is in line with other actions taken by Colombia. Polymarket was later blocked in the country due to similar complaints raised against unlicensed gambling services. Therefore, Argentina became the second country to ban the platform in the region. Such a trend underscores the developing regional integration in the area of regulatory enforcement.

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Regulatory examination does not just end at Latin America; it extends to other markets. It has been reported that websites like Kalshi have been involved in court cases in the United States due to allegations of unregulated betting services. It has also been reported that unpaid wagers have been involved in cases of dispute that are associated with geopolitical activities. Regulators and legal authorities have paid more attention to such developments.

Polymarket has also addressed criticism by eliminating some of the markets. Additionally, the site has recently shut down a market for nuclear risk forecasts after being pressured by the publicity. More so, the shutdown was done through the high geopolitical tensions. This is in response to efforts to deal with concerns as the regulatory pressure persists. Argentina has imposed a nationwide ban on Polymarket following the discovery of unlicensed betting operations and a ban on platforms. The relocation is in line with the larger international desire to control prediction market sites and restrict illegal gambling solutions.

Risk & affiliate notice: Crypto assets are volatile and capital is at risk. This article may contain affiliate links. Read full disclosure

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US Lawmakers Introduce Bill to Crack Down on Prediction Markets War Bets

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Law, Congress, United States, Prediction Markets

Two Democratic lawmakers in the US Congress have introduced legislation in response to “government corruption” over bets on prediction markets platforms.

In a Tuesday announcement, Texas Representative Greg Casar and Connecticut Senator Chris Murphy said they had introduced the Banning Event Trading on Sensitive Operations and ​Federal Functions (BETS OFF) Act after several Polymarket accounts made “highly unusual bets” that a war between the US and Israel against Iran would begin.

Murphy said on March 4 that it was likely that people with “inside information” of US President Donald Trump’s plan to bomb Iran had made the bets.

“We shouldn’t live in a country where someone sitting in the situation room making decisions about whether to invade or to bomb, decisions about war and peace, life and death, that those decisions could be driven by the fact that they have hundreds of thousands of dollars riding on the decision,” said Casar.

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Law, Congress, United States, Prediction Markets
Source: Representative Greg Casar

The bill is the latest twist in US lawmakers’ efforts to crack down on prediction market platforms and accounts allegedly using insider information to profit from government actions. Last week, California Senator Adam Schiff introduced the DEATH BETS Act to prevent prediction markets platforms from listing events contracts related to war, terrorism, assassination and individual deaths.

Related: Arizona AG files charges against Kalshi over ‘illegal gambling‘

Platforms like Polymarket and Kalshi offer bets on a variety of outcomes, including sporting events and US politics. However, users betting on the specifics of the US-Israel conflict with Iran have ignited controversy in many areas of government. On Monday, a military correspondent with the Times of Israel said that he had received death threats over his report of the date when an Iranian missile had struck Israel, all “in order to resolve a prediction on Polymarket.”

War-related bets still live on Polymarket

As of Tuesday, Polymarket still offered users the opportunity to place bets on the outcomes of several potential decisions in the US-Israel conflict against Iran, including on whether the US would send ground forces into the country, when a ceasefire might happen, and changes to Iranian leadership.

“The promise of prediction markets is to harness the wisdom of the crowd to create accurate, unbiased forecasts for the most important events to society,” said Polymarket in a note on Middle East markets. “That ability is particularly invaluable in gut-wrenching times like today. After discussing with those directly affected by the attacks, who had dozens of questions, we realized that prediction markets could give them the answers they needed in ways TV news and [X, formerly Twitter] could not.”

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Kalshi, in contrast, offered event contracts related to the Iranian conflict but not on specific military actions, such as if the country might reach a nuclear deal with the US and whether Trump or other elected officials might visit Iran.

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