The wallet labeled ODM has caught the crypto community's attention after on-chain data from PiScan revealed it withdrew millions of PI tokens from OKX.
PiScan Data Reveals Massive PI Token Accumulation
According to PiScan, the ODM wallet has received around 2.8 million PI tokens from the OKX exchange. This isn’t the first time it’s made waves—earlier, it withdrew 3.5 million PI tokens in a single move. Currently, the wallet is sitting on over 315 million PI tokens, making it one of the largest holders in the ecosystem.
Who Controls the ODM Wallet?
As of now, the identity behind the ODM wallet remains undisclosed. However, rumors are circulating that it might be operated by the Pi Core Team as part of an internal buyback initiative. Such strategic accumulation by a non-public wallet has drawn comparisons to early Bitcoin “Satoshi” wallet behavior, fueling speculation that Pi Network could be prepping for something big—perhaps an ecosystem upgrade, token stabilization plan, or exchange listing.
Details on Possible Official Buyback
If confirmed, the ODM wallet may be part of an official buyback mechanism aimed at: * Stabilizing PI’s market price, * Enhancing liquidity for decentralized exchanges (DEXs), * Supporting developer grants and hackathons. While the Pi Core Team has actively promoted development through hackathons, their position on price stabilization remains unclear.
The ODM wallet raises numerous speculations within the crypto community. If it is confirmed to be controlled by the Pi Core Team, it could impact short-term market stability; until then, the wallet's role remains a topic of discussion.
