On-chain data shows the Pi Network core team moved 500 million Pi coins, worth $80 million, causing major discussion in the community.
As per the latest on-chain data, the Pi Network Core Team has been moving their Pi coins across several large transactions spotted in early February. This news comes just when the Pi coin price is already trading under pressure, with a 25% drop since the start of 2026. The latest development has got investors on edge, with the possibility of a further correction.
Why Did Pi Network Core Team Made Massive Transfers?
According to the data from Pi Scan, a massive on-chain transaction has come under scrutiny after a wallet labeled PI Foundation 1 transferred 500 million Pi tokens, worth more than $80 million.
Interestingly, these funds didn’t move to the exchanges but instead moved to another internal wallet carrying the same PI Foundation 1 label. This hints at internal market allocation, instead of a market sale.
The transfer followed an update from the Pi Core Team, which said more than 16 million Pioneers have now completed Mainnet migration. The team also confirmed that around 2.5 million users, who were previously blocked due to security checks, have been cleared and are now eligible to migrate.
Furthermore, the Pi Network Core Team also said that over 700,000 additional users will be able to apply for know-your-customer (KYC) verification in the coming weeks. Besides, the team is also testing a new rewards distribution system for KYC validators. As a result, a broader rollout is expected by the end of March 2026.
Pi Coin Price on Radar amid Token Unlocks
Pi coin price has been facing consistent selling pressure and has corrected more than 25% over the past month. As of now, Pi price is consolidating around $0.1590, with its market cap at $1.4 billion.
Investors are still on edge amid major token unlocks coming ahead this month in February 2026. Data from Piscan indicates that more than 193 million Pi tokens are set to unlock in February, with a total value exceeding $31 million. This represents the largest scheduled unlock in the period running from now through October 2027.
Pi coin token unlocks | Source: Pi Scan
Over the next 30 days, an average of more than 7 million Pi is expected to unlock every day, translating to roughly $1.1 million in daily supply entering the market.
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