Key Notes
- Exchange-held Pi tokens have reached a record 397 million, indicating potential for further selling pressure.
- Crypto influencer Dr.
- Altcoin accused the Pi Core Team of holding over 10,000 wallets, with most being untraceable.
- Despite a February vote where 86% of the community supported a Binance listing for Pi Coin, progress remains stalled.
Losing more than 50% over the last week, Pi Network’s native cryptocurrency Pi Coin
PI
$0.60
24h volatility:
2.7%
Market cap:
$4.21 B
Vol. 24h:
$104.11 M
is stabilizing around $0.70. However, dark clouds still loom as 5.7 million Pi tokens unlock today, increasing supply and putting additional downward pressure on the altcoin’s price.
5.7 million $PI will be unlocked today 💰 pic.twitter.com/0DlgIDieb2
— MOON JEFF 🪐 (@CRYPTOAD00) May 19, 2025
On the other hand, the total number of Pi Coin deposits on the exchanges has touched a new high. Market data reveals that the number of PI coins held in exchanges has climbed to a record-breaking 397 million.
This increase in exchange holdings could rise even further following today’s scheduled token unlocks, which are expected to release additional supply into circulation. Analysts are closely monitoring the development and any potential selling pressure that comes ahead.
Pi Network Team Faces Accusations of Holding 10,000 Pi Coin Wallets
A well-known crypto influencer, Dr. Altcoin, has voiced serious concerns regarding the transparency of the Pi Core Team. He claims the team manages more than 10,000 wallets and sub-wallets, yet only the seven largest wallets are easily traceable by the Pi community.
Dr. Altcoin criticized certain members of the Pi community, known as Pioneers, for defending the Core Team amidst these allegations, despite claims that the team has not sold any Pi tokens.
How many Pioneers know that the Pi Core Team holds over 10,000 wallets and sub wallets — yet only the 7 largest ones are easily traceable by the Pi community?
And still, some Pioneers have the audacity to defend the Core Team and claim they have not sold a single Pi!
A person… pic.twitter.com/MHaxZ3cMzp
— Dr Altcoin (@Dr_Picoin) May 19, 2025
“A person with the right mindset would first demand accountability and transparency,” he remarked, urging the community to prioritize self-interest and collective accountability over blind trust. The Pi Core Team has yet to respond to the allegations.
The announcement of the $100 million launch of Pi Network Ventures has been met with disappointment by the community. Although the Pi Core team has asked developers and startups to build decentralized applications (dApps) on the network, the overall Pioneer community feels betrayed.
Pi Network founder Nicolas Kokkalis made a notable public appearance at Consensus 2025 on May 16. However, during the same period, Pi Coin dropped another 18%, reflecting the community’s waning confidence.
Is Binance Never Listing Pi Coin?
The Pi Network community has been actively advocating for a listing on major exchanges such as Binance. A February community vote revealed that 86% of participants supported listing Pi Coin (PI).
However, the lack of progress in securing a listing has sparked fresh concerns about the network’s credibility. Binance, known for its stringent evaluation process, has yet to approve the listing of Pi Coin.
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Presale Details and Staking Benefits
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- Funds Raised: $5.9 million
- Ticker: BTCBULL
- Payment Options: ETH, USDT
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
