Jakarta, Pintu News – Pi Network’s wealth list gives a clear picture of the demand for this token in the market.
Interestingly, Pi remains one of the most trending tokens in the market, even during downturns. Due to the long wait before its launch as well as the years-long community building process, the project is often the subject of hype.
This includes the post-launch price spike, which briefly pushed the value up to $2.98. With the latest developments and more members connected, let’s take a look at who has the largest holdings.
Pi Coin was launched with a total supply of 100 billion Pi tokens, but only 7.6 billion are currently in circulation. Based on data from BscScan, it is noted that the top 100 owners control 96.37% of the total supply.
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In the June edition of Pi Network’s wealth list, it can be seen that the big whales dominate, with only 15,316 wallet owners responsible for 96 billion tokens-worth about $48.60 billion based on Pi’s current price.
Interestingly, the top 10 wallets alone control 61.1% of the entire token supply, with most of it controlled by individuals (not smart contracts).
Early adopters and large investors now top the list of Pi token holders, driven by the new features introduced by Pi Network.
However, this dominance also poses the risk of centralization. If a number of wallets hold a large portion of the token supply, they have the power to influence its value.
For example, if they decide to sell simultaneously, the system may experience volatility.
According to Pi Network’s wealth list data from BscScan, wallet Null:0x000…dEaD is listed as the largest token holder, accounting for 17.4652% of the total supply. This equates to 17.4 billion tokens, but there is less risk of volatility as this address is a burn address – meaning thetokens are sent to be burnedto reduce the circulating supply.
Read also: After 10 Years of Silence, Ethereum Whale Awakens to Unbelievable 787,000% Profit!
The second largest holder is PancakeSwap V2:BSC-USD-PI Network 3, which holds 9.4829% of the total supply and is tradable. The remaining eight wallets hold around 35% of the total supply.
Overall, most of the token supply is controlled by a handful of large owners, while thousands of others collectively control less than 4% of the supply.
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*Disclaimer
This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.
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