This wallet address for PI raises suspicion as it seems to be the liquidity address provided by the PI wallet for the buy pi purchasing function.
The four major exchanges will continuously recover the pi sold by investors on their platforms and automatically transfer it to this address.
Due to the fact that the address only transfers, it appears not to be a redemption. Therefore, it is suspected that after the sale, it is exchanged for fiat currency in US dollars via banxa before being transferred to the exchange.
Upon comparing the price trend at the time when the exchanges transferred large amounts of pi to this address, it was found that there was a significant drop in prices before the transfer.
The attached images show two locations where over one hundred thousand pi were transferred for acquisition.
Therefore, as long as investors reduce the sale of pi on the exchanges, based on the logic presented earlier, the price of pi on the chain can quickly rise.