Pi Network Price Dives 3% Today: Vietnam Takes Control of Nodes, Raising Alarms Over Centralization!

Jakarta, Pintu News – Pi Network is facing a major challenge as almost half of its total nodes are concentrated in Vietnam. This, along with increasingly strict crypto regulations in the country, raises concerns about the decentralization and long-term stability of the project.

Then, how is Pi Network’s current price movement?

Pi Network Price Drops 3.8% in 24 Hours

On May 23, 2025, the price of Pi Network (PI) was recorded at $0.8175, a decrease of 3.8% in the last 24 hours. If converted to the current rupiah ($1 = IDR 16,299), then 1 Pi Network is IDR 13,324.

Read also: Whale Crypto Moves 250 Million Pi Coin, Pi Network Ready to Soar to $1.50?

PI’s daily price range moves between $0.8113 to $0.8503, indicating that there are significant fluctuations in day trading. With a market capitalization of approximately $5.9 billion, Pi Network exhibits high liquidity with a 24-hour trading volume of over $252 million.

High Concentration in Vietnam

According to recent data from PiScan, Vietnam is home to 154 out of 319 nodes worldwide, accounting for 48.2% of the total. Currently, 33 out of 76 connected nodes are in Vietnam, showing the country’s dominance in the network.

The geographic concentration of Pi Network observer nodes in Vietnam raises additional concerns about the fairness and decentralization of the network, as users from one country may have disproportionate control over network activity.

Vietnam has a legal framework that adds to the complexity of the situation. According to Vietnamese law, virtual currencies such as Pi Coin (PI) are not considered legal tender instruments.

Furthermore, authorities can impose fines on individuals who use Pi Coin for payments.

Regulation and Investigation

Vietnam’s cautious approach is further demonstrated through legal warnings about the potential risks of Pi Network.

In 2023, Vietnamese authorities even initiated an investigation into Pi Network, citing concerns about its business model. Vietnam’s Ministry of Finance has proposed new regulations that aim to tighten cryptocurrency supervision by limiting storage to licensed institutions only.

Read also: Bitcoin Reaches New ATH, Pi Network to Surge to $1.35?

Although still under consideration, this policy could affect the operations of local miners, potentially disrupting the Pi Network infrastructure. This proposal emphasizes the need for stricter control over cryptocurrency activities in Vietnam to ensure greater transparency, security, and compliance with local laws.

Token Distribution and Trust Issues

PiScan revealed that the Pi Foundation wallet holds over 60.7 billion Pi out of a total supply of 100 billion. This centralization reduces the trust and distribution ethos that cryptocurrencies promote.

Recently, the BeInCrypto website reported that a Pioneer claimed that the team conducted domestic sales, further eroding trust.

Therefore, for a project that markets itself as a decentralized, user-driven ecosystem, addressing these structural vulnerabilities will be critical to maintaining credibility and ensuring long-term stability.

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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.

Reference:

• BeInCrypto. Vietnam’s Pi Network Challenges Decentralization. Accessed on May 23, 2025
• Coinpedia. Pi Network Faces Centralization Power as Vietnam Dominates Its Node Activity. Accessed on May 23, 2025