50M Pi Mapped to Pioneer Accounts as Stellar V23 Upgrade Nears

According to blockchain data, Pi Network has mapped 50 million Pi tokens to pioneer accounts in just a few hours. Most of these mapped tokens belong to large and medium-sized accounts. With notable participation from the Chinese community. This activity signals a clear acceleration in the migration process. Community members highlighted that after the upgrade to Stellar Protocol V23. The team expects the mapping speed to increase even further. The community sees the upgrade as a critical step for Pi Network. As it seeks to expand usability and strengthen its technical base.

Progress in Migration

Reports from Pi block explorer show consistent account creation. The token transfers are tied to the migration process. Examples include multiple accounts created within hours. Along with significant token amounts being moved to new wallets. One pioneer account from 2019 was confirmed to have been mapped to the mainnet wallet. Early in the morning, with nearly 10,000 Pi credited. Although the balance becomes fully available only after a 14-day waiting period. This confirms that migrated tokens will soon be ready for participation in the ecosystem. The activity reassures pioneers who have been waiting for broader migration. It shows that technical infrastructure is scaling to handle larger account volumes.

Market Performance of Pi

While migration progresses, Pi’s market performance remains subdued. As of September 8, the Pi traded at around $0.3471. It is marking a slight 0.94% gain over the past 24 hours. The token’s price has stayed within a narrow range of $0.34 to $0.35, signaling limited volatility. Pi coin showed a bullish trend on September 7, reaching a high of $0.34. The momentum continued today, suggesting a potential move towards its weekly high of $0.35-$0.36. However, a reversal could see the price drop to a new low of $0.32-$0.33, indicating a volatile market.

Pi Network 24-hour chart on September 8, 2025, by CoinMarketCap

Trading volumes were reported between $2 million and $20 million over the same period. Analysts noted this reflects consistent, though not explosive, activity. Pi continues to trade below its 20-day, 50-day, and 100-day moving averages. This places the token in a longer-term bearish trend, despite the small daily recovery. The Relative Strength Index also shows weak demand, with market sentiment still cautious. Pi remains far below its all-time high of nearly $3 earlier this year. The price action suggests the token is consolidating. With potential retests of resistance levels needed to shift momentum.

Outlook for Pioneers

The mapping of 50 million Pi tokens is a significant milestone for the project. It demonstrates progress in distributing assets fairly to early participants. While also preparing for broader ecosystem use. Once Stellar Protocol V23 is activated, migration could speed up. This also includes reducing waiting times and enhancing confidence among pioneers. For investors, the combination of accelerating technical developments and stable price action creates a mixed picture. On one hand, Pi’s value remains under pressure due to long-term supply challenges. 

On the other hand, consistent progress in account mapping and upcoming protocol upgrades provide reasons for cautious optimism. Community leaders urged pioneers to stay patient. They advise maintaining a positive outlook. As technical adjustments are completed, the project remains focused on building a sustainable ecosystem. It is supported by migration advances and technical upgrades.