Pi Network Reduces Mining Rewards Amid Major Whale Transfer

• Pi Network cut mining rewards by 1.23% in September, and it now takes over 15 days to mine one token. 

• A whale transferred 6.5 million Pi tokens to the OKX exchange, but the token price stayed stable around $0.35. 

• The network expanded through new listings and partnerships while preparing technical upgrades for better user verification.

Pi Network has announced another reduction in mining rewards for September, continuing its strategy to control token supply. The blockchain project cut its base mining rate to 0.0027405 π per hour, marking a 1.23% decrease from August levels.

The adjustment means miners now require over 15 days to earn a single Pi token without additional bonuses. Annual mining yields have dropped to approximately 24 Pi tokens per user. This follows a more significant 8% reduction implemented in August, when rates fell from 0.0030165 π per hour to 0.0027746 π per hour.

Network officials justify these reductions as necessary for maintaining controlled token distribution. The strategy aims to create artificial scarcity, potentially increasing the value of mined tokens over time. Mining rates have reached their lowest point since the project’s inception.

Whale Activity Sparks Market Speculation

A substantial transfer of 6.5 million Pi tokens to the OKX exchange has captured community attention. According to network monitoring services, the transaction occurred within hours of the mining rate announcement.

Source: X

The whale’s motivations remain unclear, prompting widespread speculation about potential market implications. Some community members interpret the move as preparation for a large-scale sell-off. Others suggest it could indicate institutional accumulation or trading strategy adjustments.

Despite the significant transfer, Pi’s market price has maintained relative stability around $0.35. The token has shown resilience against potential selling pressure, suggesting balanced market sentiment.

Ecosystem Expansion and Technical Upgrades

Pi Network recently secured a listing on Onramp Money, enabling direct purchases across more than 60 countries. The integration supports various local payment methods, improving accessibility in regions where traditional cryptocurrency exchanges face restrictions.

The project has gained institutional recognition through its gold sponsorship of the Token2049 conference in Singapore. Founder Nicolas Kokkalis will represent the network alongside industry leaders from Circle and CoinEx. This follows his participation at Coindesk’s Consensus event earlier this year.

Technical developments include the upcoming version 23 protocol upgrade. The enhancement will directly integrate Know Your Customer (KYC) verification into the blockchain infrastructure. This feature aims to streamline user verification processes while ensuring regulatory compliance.

European market exposure has expanded through Valour’s launch of the first Pi exchange-traded product on Sweden’s Spotlight Stock Market. The ETP represents a significant milestone in institutional adoption and regulatory acceptance.

Prominent Pi influencer WoodyLightyear has praised the network’s efforts to increase token accessibility in restricted markets. These initiatives demonstrate the project’s commitment to global expansion and user inclusion.