Analysis of the "Rich List" of Pi Network: Who Holds the Most?

Although it is still in the unofficial phase of launching a public mainnet, Pi Network remains one of the cryptocurrency projects that attracts significant global attention. This appeal comes from many years of community building and expectations of long term growth potential. Although the current price of Pi Coin is trending downwards, interest remains undiminished, especially after the price surged to $2.98 following the recent launch of new products. One of the notable factors in the cryptocurrency market is the asset distribution list (rich list) — and with Pi Network, this becomes even more important due to the centralized nature of the token distribution. Overview of the Circulating Supply of Pi Pi Network is designed with a maximum supply of 100 billion tokens, however, only 7.6 billion tokens are currently in circulation on the market. According to data from BscScan, it is astonishing that the top 100 wallets hold up to 96.37% of the total supply, which is approximately 96 billion Pi.

Only 15,316 wallet addresses hold a total of 96 billion tokens, equivalent to 48.6 billion USD based on the current market price of 0.53 USD per Pi. The top 10 largest wallets hold up to 61.1% of the total supply, indicating a high degree of concentration and the risk of imbalance in the ecosystem. Who Holds the Most Pi?

According to data from BscScan, the wallet "Null: 0x000…dEaD" holds the most Pi, accounting for about 17.4652% of the total supply – equivalent to 17.4 billion Pi. However, this is a burn address (, so it can no longer circulate and does not affect the market. The second position belongs to the PancakeSwap V2 wallet: BSC-USD-PI Network 3, accounting for 9.4829% of the total supply – this is a trading wallet and can cause price fluctuations if liquidity suddenly rises or falls. 8 wallets remaining in the top 10 are holding a total of about 35% of the supply, mostly from large investors or early participants of the Pi network. Concentration Risks and Their Impact on Pi Price The fact that a small group of wallets controls a large portion of the total supply creates the risk of concentration of power, which goes against the spirit of decentralization of blockchain. If these wallets decide to dump a large amount of tokens at once, the Pi market could experience significant volatility, even a price collapse. Although Pi Network has a large and active community, the concentration of assets could be a significant barrier for institutional investors and make it difficult to list on major exchanges without a reasonable redistribution mechanism. Conclusion Pi Network remains a project worth watching with potential and a strong community. However, the issue of uneven asset distribution and control by a small group of large wallets raises many questions about the stability and fairness of this ecosystem in the long term. To achieve widespread acceptance and official listing, Pi Network needs to address the distribution problem, increase transparency, and create mechanisms to counter market manipulation by "Whales".