Recent changes at OKX have led to a price drop for Pi Coin as investors engage in panic selling in response to the removal of margin trading.
Reduction of Margin Trading Support
On August 21, OKX announced that new borrowing for PI/USDT margin pairs would be halted immediately, with full delisting scheduled for August 27-28. This means traders will no longer be able to use leverage on Pi, effectively reducing liquidity and signaling waning institutional trust in the project’s short-term prospects.
Panic Selling and Increased Trading Volume
The exchange update triggered a wave of forced exits as traders closed positions ahead of the margin shutdown. Pi’s 24-hour trading volume surged by over 32% to $52.6 million, reflecting panic-driven transactions. While volume spikes sometimes suggest strong demand, in this case, it appears tied to selling pressure rather than new accumulation.
Price Outlook for Pi Coin
At the time of writing, Pi trades at $0.334, down 4.5% over the past 24 hours and nearly 8% on the week. The combination of reduced liquidity, exchange delisting, and rising sell pressure suggests that volatility will remain high into early September. The asset's future depends on ecosystem development and whether exchanges can restore more robust trading options.
In the face of the current situation, Pi Coin is experiencing challenges in attracting new buyers and regaining interest from institutional traders. The future of the asset will depend on ecosystem developments and the ability to restore more reliable trading conditions.
