Highlights
After a month of launch, the June rich list of Pi Network showcases high whale holding. Notably, the top few wallets are responsible for holding almost all the tokens out there, showcasing how wealth is divided among holders. Interestingly, the token gained investors’ attention with its post-launch rally, setting an ATH at $2.98. However, the price has declined more than 80% since then, but many are still holding. Who has the most Pi tokens? Let’s discuss.
Pi Coin was launched with a total supply of 100 billion Pi tokens, but only 7.63 billion are in circulation. Notably, the top 100 holders own 96.37% of the total supply per BscScan data. The Pi Network June rich list includes major whales holding as only 15,316 holders are responsible for 96 billion supply, worth $48.60 billion at the current Pi price.
Additionally, the top 10 wallets alone control 61.1% of the total supply, with individual whales (non-contracts) holding the majority share. Notably, the early adopters and large investors are filling the top Pi coin-rich list due to new Pi features.
The same reason puts it at the risk of centralization. If a set of wallets carries a large token supply, they carry the power to influence its value. For example, if it decides to sell, the system could face volatility.
According to the BscScan Pi Network rich list data, the Null: 0x000…dEaD wallet holds the most tokens, constituting 17.4652% of the total supply. This represents 17.4 billion tokens, but carries less risk of volatility as it’s a burn address, carrying tokens to reduce the circulating supply.
The second-highest holding (9.4829%) is in the PancakeSwap V2: BSC-USD-PI Network 3, which is tradeable, and the remaining eight wallets hold 35% of the total supply. Overall, the maximum supply is held by a short number of holders, while thousands carry less than a 4% supply.
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