52 billion coins are held by the foundation, and you call that decentralized? Of the 70 million users, less than 10k are really big holders, and the unlocking sell pressure is still waiting in 2026. The more I look at Pi's game, the more it looks like a single-player game.

CoinWorld News, Pi Network News reports that currently only 21 wallets hold more than 10 million PI, raising investor concerns about decentralization. The largest wallet controlled by the Pi Foundation reportedly holds over 52 billion PI, dominating the overall network supply. It is expected that approximately 1.21 billion PI will be unlocked in the second half of 2026, with an average of about 6.5 million PI entering circulation daily. Although Pi Network claims to have over 70 million registered users globally, on-chain data shows that fewer than 10k wallets hold at least 1 million PI, with the vast majority of users holding relatively small amounts.