Pi Network Token Plummets, Founders Remain Billionaires

Bitcoin stands at record highs above $93,000 now while many other digital assets still struggle. Since February when Pi Network launched its crypto effort, it suffered an 80% loss that reduced its $300 billion value to $66 billion.

Despite a big dip in Pi Network market value, the network’s co-founders Nicolas Kokkalis and Chengdiao Fan still appear as billionaires according to their financial records.

The Foundation executives hold their significant wealth in Pi tokens even though the market value of Pi has dropped from $19 billion to $4.48 billion because they received their tokens early. As holders of Pi Network tokens from its early beginnings, they survive the price fall without losing their billionaire status though they cannot sell their tokens at present.

Foundation Holds Billions in Locked Pi Tokens

The Pi Network Foundation runs the project and maintains 10 billion Pi tokens for $6.6 billion market value under current prices. The organization’s ownership of this token pool influences the digital power structure in the ecosystem.

Pioneers receive 65 billion tokens out of 100 billion as part of the entire Pi Network community. As with the tokens of the founders, these pioneer tokens are mostly placed in escrow lockup.

The unlocked Pi tokens from the entire 100 billion supply will enter circulation through May 2028 based on statistics from PiScan. Every month the system releases 131 million tokens worth about $87 million due to current market rates.

The schedule protects the network while presenting future growth as unpredictable. This approach keeps tokens entering the market slowly, which helps reduce sudden selling sprees. However, the original investors and early supporters will not achieve their token value expectations until future years pass.

The growing crypto industry creates critical decisions for the Pi Network team. Its cryptocurrency performs poorly but due to its founders’ ample balances the project still holds promise. Whether the proposed value in the Pi Network reaches realization or disappears depends strictly on market reception over the unlocking schedule period.