Pi Network Second Migration
Pi Network token migration has been a mystery to most users, and there is no clear communication from officials. However, most users are somehow able to receive their first migration portion to their mainnet wallet. Now the question is when the Pi network second migration is happening and what will be the criteria.
Since the project mainnet launch, more than 60% of migration has been successfully carried out from the first migration. Due to security concerns and some technical glitches, most Pi returned to the main account from the wallet, as many wallets got hacked due to phishing emails. But the main concern is those returned transferred balances are again added to the queue or stuck at the “migrate to mainnet” step. This first migration token balance was calculated considering verified base mining rewards i.e., daily per hour mined Pi tokens without referral rate, along with KYC completed user rewards i.e., security circle rewards and also node runner rewards.
Pi Network Second Migration Date
On 14th April 2025, the Pi team released a statement where they mentioned the first migration is still going on, and once all current queues are completed, the 2nd Pi token migration will begin. Now when can we expect a second migration and what could be the approximate date for this event? According to the community and roadmap, this could start probably at the end of May 2025. The 2nd migration will include a referral mining bonus and also referral team member tokens for those who completed KYC.
| Event | Date |
| Pi 1st Migration | May 2025 |
| Pi Second Migration | Early June 2025 |
| Pi Final Migration | Q4 2025 |
Pi Network Unverified Migration
Most of your unverified balance still has unknown status, as users don’t have an idea of how much token percentage will be unlocked or become transferable balance. In common procedure, once your balance transfers to the mainnet wallet, it will be locked for a minimum of 14 days as per the lowest locking period, as users have chosen different options as per rewards balance. However, many users have invited or referred friends to increase the Pi mining rate, as we mentioned above only base rewards are distributed. So, referral bonus rewards are now known as unverified balances that are going to be added in the second migration phase.
Pi Final Migration
As per the document, left-out balances i.e., apart from referral bonus and base mined tokens, other tokens will be distributed. In this phase, investor and team supply will get unlocked with a 6-month vesting period, however, the distribution model has not yet been released. Right now, out of 100 billion of total supply, only 8 billion supply is in circulation, and in the final migration, we could see more tokens unlocked.
The Pi team already confirmed that 65% of the maximum supply is allocated to the community as mining rewards. As many users missed out on doing KYC, their supply will be counted as forfeited rewards that are going to get burned. The remaining 45 billion supply will collectively fall under the core team, foundation reserve, and liquidity purpose.
The Pi team confirmed that over 12 million people have already migrated their transferable balance to the mainnet wallet. As this fair KYC process eliminated millions of bots and fake users from the ecosystem. However, the team was able to deliver considering the biggest airdrop in terms of the number of users and total volume in USD.
Pi listing news was a headline on many top reporting portals, as millions were waiting for the last 4 to 5 years. Currently, Pi is available on OKX, Gate, LBank, Bitget, MEXC, and other tier 3 exchanges. Top-tier exchanges like Binance, Coinbase have yet to consider Pi listing, as generally Binance always targets huge user base crypto projects.
Pi Controversies
Pi Network has faced a lot of controversies till now, one of the most famous is with the Bybit Founder, as users asked for Bybit listing but he denied it and posted a long negative statement about the project. He mentioned that Pi Network does not have transparent tokenomics and also a lot of key factors are hidden. After this, CoinMarketCap and CoinGecko, the top crypto price reporting platforms, were not updating the exact ranking of Pi Network, even having a $13 billion USD market cap Pi was not in the top 10 list. However, later they confirmed market volume and also updated the ranking as Pi was able to secure 8th rank in the global crypto rank. But following market sentiment and selling pressure, the market dropped below $5 billion and also ranking dropped from the top 30 projects list.
Pi Token Price Prediction
Before we start the prediction, let’s talk about the huge price movement, as Pi started trading at $1.84 USD and later dipped to $0.67. However, the initial dip was expected because early users had already received their tokens in the wallet. But later due to positive news, it again surged to an all-time high of $2.99 i.e., very close to $3.14 USD i.e., the most predicted figure considering its mathematical reference.
Ever since $2.99 and with huge tariff wars going on between the USA and other countries, the market is not that bullish, as when Pi was listed at that time the market was seeing huge inflows and BTC dominance was on the verge of falling. So, with a huge alt season approaching and even other old projects were also doing well in the market following listing. So, Pi also followed the same pattern but later the price started dumping and now for almost 2 months it is currently trading at $0.62 as of writing on 21st April 2025.
Pi is currently trading at its biggest support i.e., $0.60 USD and considering the price movement in May 2025 and technical analysis, we could say $0.60 support is very crucial. If it continues to break, then we could find Pi trading below $0.40 USD. Now considering long-term prediction and the upcoming 2nd migration unlock, we could expect more selling pressure in the coming days. However, if Pi is able to continue sideways between the $0.55 to $0.60 range, then Pi could hit $1 in Q3 2025.