Less than 10K accounts hold at least 1M PI...

A Network of Millions, Dominated by a Few

New on-chain data from PIScan paints a striking picture of wealth concentration inside Pi Network (@PiCoreTeam). According to the figures, fewer than 10,000 accounts hold at least 1 million $PI. Of those, 9,961 wallets sit in the 1 million to 10 million range, while 766 accounts hold between 100,000 and 1 million $PI.

At the very top, just 21 accounts qualify as true whales, each holding more than 10 million $PI. PIScan data underlines how heavily concentrated ownership is, with a small number of wallets dominating the supply picture. For context, the Pi Foundation's largest wallet alone holds more than 52 billion $PI, accounting for a significant portion of the total supply.

The contrast with the broader user base is sharp. According to the original data, 80% of all Pioneers, translating to more than 14.5 million users, hold fewer than 10 $PI. While over 15.9 million Pi accounts exist, the vast majority hold tiny balances.

Supply Pressure and the Road Ahead

The distribution data arrives at a sensitive moment for the project. Roughly 1.21 billion $PI are scheduled to enter circulation across 2026, releasing at a pace of around 6.5 million coins a day, adding constant supply pressure to what is already a weak market.

On the user side, the network continues to grow its verified base. As of June 2026, Pi Network has reported a total registered user base exceeding 70 million Pioneers globally, representing individuals who have downloaded the app and engaged in mining at least once. Official records indicate that roughly 16.7 million Pioneers have successfully completed mainnet migration.

A handful of wallets, mostly controlled by the Pi Foundation, dominate supply, raising questions about whether $PI functions more like a centrally managed token than a decentralized currency. When whales hold outsized portions of supply, they can heavily influence market behavior, and a sudden sell-off by a single whale wallet could weigh on prices, leaving smaller holders exposed.

Pi Network has positioned itself around inclusivity, offering mobile mining to anyone with a smartphone. But the PIScan figures suggest that, at least for now, the network's value remains concentrated in a small number of hands.

Sources:
CCN: Pi Network Rich List, Who Owns Billions in Pi Coins
Crypto.news: Pi Network Token Unlocks 2026, Can Demand Absorb It
Bitget: How Many Pioneers Are in Pi Network