Pi Core Team Moves Over 500 Million Pi in Early February as Token Falls More Than 94%
The Pi Core Team moved 500 million Pi internally while the token price has dropped over 94% from its high.Summary
The Pi Core Team executed a significant internal transfer of 500 million Pi tokens early in February, moving the funds between wallets labeled as belonging to the PI Foundation, amidst a broader market context where Pi's price has fallen about 94% from its peak and is currently trading near $0.16.
This activity coincided with the team announcing major ecosystem progress, including over 16 million Pioneers completing Mainnet migration, 2.5 million previously blocked users being unblocked for migration, and over 700,000 Pioneers gaining access to KYC applications soon. A reward distribution system for KYC validators is also being tested for deployment by the end of March 2026.
Despite these developments, the token faces heavy unlock pressure, with over 193 million Pi scheduled to unlock in February. Low trading volume has plagued Pi, but recent data suggests Pi reserves on exchanges are beginning to decline, hinting at potential early accumulation as prices remain low.
(Source：BeInCrypto)