In the last 24 hours, over 550 million PI tokens have been transferred from the Pi Foundation's fund wallet through 6 transactions, each ranging from 50 to 100 million PI.
The lack of official announcements from the organization has led the Pioneers community to propose many hypotheses.
Some believe this is preparation for venture capital, similar to when Pi Ventures invested $20 million in the artificial intelligence startup OpenMind.
Some others believe that this may be related to internal reforms or preparations for an important announcement.
Suspicion about the second relocation phase
The most popular hypothesis in the community is that these transactions may be related to the second relocation phase.
Previously, the initial relocation process lasted several years, and many users still have not verified their balances or received referral rewards.
An administrator suggested that 'a new relocation may occur this year', raising the wave of hypotheses.
However, analysts warn: 'Large movements on the blockchain are rarely routine; they often involve partners, fund management, or structural upgrades.'
Concerns of individual investors
Additionally, researcher Pi Woody Lightyear's study shows that over 14.4 million Mainnet users hold under 100 PI, reflecting a large dispersion within the community.
This means that decisions from the Foundation could have a strong and asymmetric impact on small wallets.
While many investors hope this is a sign of preparation for a new advance, some are worried that prolonged relocation may continue to cause delays and widen the gap between those who have verified and those who are still stuck.
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