According to data from PiScan, the Pi Network’s core team currently holds the majority of the total Pi Coin (PI) supply.

While such concentration may be necessary during the early stages of a network’s development, it also raises significant concerns about the project’s future decentralization.

Pi Coin Supply Concentration: Core Team’s Control Sparks Worries

The latest data reveals that the Pi Network’s core team controls approximately 62.8 billion Pi Coins across six wallets. Additionally, around 20 billion PI sits in roughly 10,000 unlisted wallets that belong to the team.

This brings the total supply held by these entities to about 82.8 billion PI. It represents a major chunk of the total maximum supply of 100 billion.

Further complicating the centralization issues, Pi Network is currently operating with only 43 nodes and three validators globally. In stark contrast, more established Layer 1 networks, such as Bitcoin (BTC), operate with over 21,000 nodes. Moreover, Ethereum (ETH) has over 6,600, and Solana (SOL) has around 4,800 nodes. 

The limited number of nodes and validators means that control of the network is concentrated in the hands of a few entities. Therefore, this makes the network much more centralized than its more established counterparts.

That’s not all. This lack of transparency adds another layer of uncertainty.

“Analyzing Pi Network’s source code and on-chain data is currently challenging due to its incomplete openness,” PiScan posted on X.

Meanwhile, Pi Network has also raised doubts regarding privacy and third-party involvement. In the 2025 privacy policy update, Pi Network revealed that it uses ChatGPT for its Know Your Customer (KYC) process. This feature was not mentioned in the previous version of the policy. 

“We use ChatGPT, as a trusted AI partner, to automate identity verification and enhance security measures. By using our KYC services, users consent to the use of ChatGPT, and other AI providers that may be later implemented, as part of our KYC process,” the document states.

The introduction of artificial intelligence (AI) into the KYC process brings a new layer of complexity to how user data is shared and processed.

These concerns add to a growing list of issues surrounding Pi Network. The community has previously highlighted technical difficulties during the mainnet migration. In addition, many users, frustrated by the long lockup period and limited immediate access to their tokens, have been trying to sell their accounts.

This dissatisfaction has resulted in a sharp decline in Pi Network’s popularity. According to Google Trends, the search interest for “Pi Network” has dropped significantly since the mainnet launch on February 20. 

On launch day, the search interest was at 100, indicating a peak of public attention and excitement surrounding the event. However, this figure has plummeted to just 12 at the time of this report, reflecting a steep decline in interest. 

Ethereum price failed to clear the $2,000 resistance and trimmed gains. ETH is now consolidating and facing hurdles near the $1,920 resistance.

• Ethereum started a fresh decline below the key support at $2,000.
• The price is trading below $1,950 and the 100-hourly Simple Moving Average.
• There is a short-term bearish trend line forming with resistance at $1,890 on the hourly chart of ETH/USD (data feed via Kraken).
• The pair must clear the $1,890 and $1,950 resistance levels to start a decent increase.

Ethereum Price Faces Resistance

Ethereum price started a fresh decline from the $2,020 resistance, like Bitcoin. ETH declined below the $2,000 support to enter a bearish zone.

The bears gained strength for a move below the $1,820 support. Finally, the bulls appeared near the $1,750 zone. A low was formed at $1,753 and the price is now correcting some losses. There was a move above the $1,780 and $1,850 resistance levels.

It cleared the 23.6% Fib retracement level of the downward wave from the $2,150 swing high to the $1,753 low. Ethereum price is now trading below $1,950 and the 100-hourly Simple Moving Average.

On the upside, the price seems to be facing hurdles near the $1,890 level. There is also a short-term bearish trend line forming with resistance at $1,890 on the hourly chart of ETH/USD. The next key resistance is near the $1,920 level.

The first major resistance is near the $1,950 level and the 50% Fib retracement level of the downward wave from the $2,150 swing high to the $1,753 low. A clear move above the $1,950 resistance might send the price toward the $2,000 resistance.

An upside break above the $2,000 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,120 resistance zone or even $2,250 in the near term.

More Losses In ETH?

If Ethereum fails to clear the $1,890 resistance, it could start another decline. Initial support on the downside is near the $1,845 level. The first major support sits near the $1,800 zone.

A clear move below the $1,800 support might push the price toward the $1,750 support. Any more losses might send the price toward the $1,720 support level in the near term. The next key support sits at $1,650.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is losing momentum in the bearish zone.

Hourly RSI – The RSI for ETH/USD is now below the 50 zone.

Major Support Level – $1,800

Major Resistance Level – $1,890

The European Stability Mechanism (ESM) has raised concerns that the United States’ growing support for dollar-backed stablecoins could threaten Europe’s financial stability and monetary sovereignty.

These concerns come as stablecoin regulation gains traction in the US. US national banks and federal savings associations can offer services without prior regulatory approval.

EU Warns US Stablecoins Could Threaten Euro Stability

Pierre Gramegna emphasized the urgency of the European Central Bank’s (ECB) digital euro initiative as a countermeasure. As the Managing Director of the ESM, Gramegna urged expedition to preserve the country’s monetary sovereignty and financial stability.

“It could eventually reignite foreign and US tech giant’s plans to launch mass payment solutions based on dollar-denominated stablecoins. And, if this were to be successful, it could affect the euro area’s monetary sovereignty and financial stability,” Gramegna stated at a Eurogroup meeting.

The EU is advancing its digital euro project to safeguard its financial independence. The ECB has long warned that reliance on US-backed stablecoins could weaken the euro.

He echoes recent remarks by ECB official Piero Cipollone during an early February interview. Then, Cipollone indicated that the Trump administration’s support for stablecoins would likely accelerate legislation surrounding the digital euro. Such an outcome, he said, would position it as a necessary alternative.

“The US and Europe have differing views on stablecoins. The Trump administration sees them as a tool to strengthen the US dollar’s global presence, whereas the ECB fears they could destabilize Europe’s financial system,” Cipollone explained.

The ESM supports the ECB’s digital euro project and the European Commission’s efforts to revise the MiCA (Markets in Crypto-Assets) directive. Gramegna emphasized that these measures are critical in preventing a scenario in which European consumers and businesses become overly reliant on US-backed stablecoins.

Indeed, these concerns come as the United States government has increasingly favored crypto, particularly stablecoins pegged to the US dollar. Federal Reserve Governor Christopher Waller recently asserted that stablecoins could enhance the US dollar’s global role.

Federal Reserve Chair Jerome Powell has also advocated for stablecoin regulation to solidify their role in financial markets. Meanwhile, new rules now permit US banks to offer stablecoin services, signaling further integration of stablecoins into traditional finance (TradFi).

These developments could accelerate the dominance of US-backed stablecoins in global transactions. Reports suggest that even Bank of America (BoA) is exploring launching its own stablecoin, while Circle CEO Jeremy Allaire is pushing for mandatory US registration of stablecoin issuers.

The debate over stablecoins mirrors broader geopolitical concerns. The dollar’s dominance in digital payments could grow as US financial institutions integrate stablecoins into their services. This could limit the euro’s influence.

European policymakers advocate for a strong regulatory framework and an accelerated timeline for the digital euro’s rollout to counter this.