Stellar V23 upgrade approaches, as 50 million PI tokens are linked to Pioneer user accounts.
The Pi Network, a blockchain project managed by a team of Stanford graduates, has achieved a significant milestone with the mapping of 50 million Pi tokens. This milestone signifies progress in the fair distribution of assets to early participants.
The project has secured institutional backing from three Silicon Valley venture capital firms: 137 Ventures, Designer Fund, and Ulu Ventures. These firms are responsible for the strategic expansion and credibility of the Pi Network.
The momentum continued today, with the token's price showing potential signs of moving towards its weekly high of $0.35-$0.36. As of September 8, the Pi traded at around $0.3471, marking a slight 0.94% gain over the past 24 hours.
The activation of Stellar Protocol V23 could speed up the migration process and reduce waiting times. This upgrade could enhance confidence among pioneers, who are currently seeing notable token amounts being moved to new wallets.
However, the market remains cautious, with the Relative Strength Index showing weak demand for Pi. The price of Pi remains below its 20-day, 50-day, and 100-day moving averages, indicating a longer-term bearish trend. The token's price has stayed within a narrow range of $0.34 to $0.35, signaling limited volatility.
Despite this, community leaders urge pioneers to stay patient and maintain a positive outlook. The project remains focused on building a sustainable ecosystem, supported by migration advances and technical upgrades. The technical infrastructure is scaling to handle larger account volumes.
On September 7, Pi coin showed a bullish trend, reaching a high of $0.34. The 24-hour trading volumes of Pi on September 8, 2025, were reported between $2 million and $20 million.
One pioneer account from 2019 was confirmed to have been mapped to the mainnet wallet, receiving nearly 10,000 Pi. The migration activity reassures pioneers who have been waiting for broader migration.
It's important to note that the fully available balance becomes available only after a 14-day waiting period. The price of Pi remains far below its all-time high of nearly $3 earlier this year, suggesting consolidation. Pi Network blockchain data shows consistent account creation and token transfers tied to the migration process.
In conclusion, the mapping of 50 million Pi tokens marks a significant milestone for the Pi Network. The project's focus on building a sustainable ecosystem, coupled with the activation of Stellar Protocol V23 and the continued progress in account mapping, provides reasons for cautious optimism for investors. However, the market remains cautious, and it's crucial for pioneers to stay patient and maintain a positive outlook.
