The controversial cryptocurrency project continues to draw attention across the industry after releasing key features and unveiling big upgrades.
Its native token, PI, is also very popular, boasting a multi-million-strong holder base. However, only a small fraction of users own more than 10 million coins. Below is a detailed breakdown of each holder group.
The X account BSCN revealed that only 21 accounts hold over 10 million PI each. The next group of investors (those holding between 1 million and 10 million tokens) comprises 9,961 users, while 766 own between 100,000 and 1 million tokens.
Further down the distribution, 353,340 wallets hold between 1,000 and 10,000 PI, and another 1,503,374 accounts sit in the 100 to 1,000 PI bracket. The largest cohort by far consists of small holders: around 80% of all Pioneers (more than 14.5 million users) possess fewer than 10 coins each.
The post on X ignited a heated debate, drawing numerous people who began dissecting the data. Some claimed that the whales couldn’t have mined such an enormous amount of tokens, arguing that they had bought them on exchanges.
Others noted that the overwhelming majority of Pioneers hold extremely small balances, making it difficult for them to contribute to the ecosystem via staking or other utility-driven features.
Unfortunately for the multi-million-holder base, Pi Network’s native token has been suffering lately. Earlier this week, it dropped to a new all-time low of around $0.09, representing a 20% plunge on a monthly scale and a 97% collapse since the all-time high of $3 witnessed at the start of 2025.
Its free fall comes despite the numerous updates introduced by the Core Team. Recall that on Pi2Day (June 28), the developers launched SoloHost, Pi Sign-in, and PiVerify – tools designed to expand the ecosystem beyond native apps and into AI, digital identity, and third-party services.
Earlier this month, Pi Network announced that Pi App Studio released two updates to help creators “build more engaging and useful” application experiences: backend support that enables users to save and retrieve specific data across sessions and an AI-assisted App Planning Phase where creators can develop their ideas with the help of Artificial Intelligence.
Meanwhile, the rising number of tokens held on crypto exchanges and upcoming unlocks (over 127.5 million PI are scheduled for release in the next 30 days) suggest the price could experience a further short-term pullback.
The post 📌 推荐交易所
欧意 | Binance | Bybit | Bitget | Gate.io
小靓分析：
🦊 小靓解读
Pi Network 代币 PI 的持有者分布极度集中——仅 21 个地址掌握了超过 1000 万枚代币，而绝大多数用户持仓量不足 1000 枚。这释放出典型的“巨鲸控盘”信号，项目方或早期大户对价格有极高影响力。
📊 市场影响
短期来看，PI 价格容易因大户抛售或锁仓消息剧烈波动，但散户基础庞大（超 150 万地址持有 100–1000 枚），若生态应用落地，可能形成底部支撑。中线上，持仓结构不均衡会压制流动性，不利于价格稳定上涨。
💡 操作建议
建议交易者谨慎追高，密切关注前 21 地址的链上动向。若大户持续减持，可考虑轻仓做空；若出现生态利好（如主网上线），则等待放量突破后再右侧入场。控制仓位，设好止损。
风险提示：
该资讯来源于公开渠道，仅供参考。Traceless 无痕智盈平台不对此信息准确性做任何保证。