- Pi Network rich list shows that the top 100 wallets hold 96.37% of all tokens.
- A burn address leads with 17.46 billion tokens, raising centralization concerns.
The June 2025 Pi Network rich list paints a striking picture of wealth concentration within the ecosystem. Despite only 7.6 billion Pi tokens in circulation, the top 100 wallets control an overwhelming 96.37% of the entire supply, according to BscScan data.
Pi Network Burn Wallet Dominates the Ecosystem
Leading the list is not a traditional whale, but a burn address—Null: 0x000…dEaD—which holds 17.46 billion Pi tokens, making up 17.46% of the total supply. While this might seem alarming, burn addresses are not active participants in trading. These tokens are effectively removed from circulation, helping reduce supply and counter inflation.
Top 10 Wallets Control Over 60%
Following the burn address is the PancakeSwap V2: BSC-USD-PI Network 3 wallet, which holds 9.48% of the total Pi supply. The remaining top 8 wallets collectively control an additional 35%, bringing the top 10’s combined share to 61.1%.
Most of these addresses belong to early adopters and large investors who were rewarded during Pi Network’s long pre-launch phase. This extreme concentration of tokens raises concerns about centralization and potential market manipulation. If just a few of these wallets were to offload their holdings, Pi’s price could face extreme volatility.
Only 15,316 Pi Network Wallets Hold 96 Billion Tokens
From its original 100 billion Pi token supply, only a small fraction—7.6 billion—is circulating. Astonishingly, just 15,316 holders account for 96 billion of the total supply, estimated at $48.6 billion in value. Meanwhile, the vast majority of users collectively own less than 4% of all Pi tokens, highlighting a significant imbalance.
What It Means for Pi’s Future
The rich list offers insight into Pi’s tokenomics and underscores the need for greater distribution to promote decentralization. While the token continues to generate buzz and remains one of the most talked-about cryptocurrencies, its long-term success may hinge on how equitably its tokens are spread among users.
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