Pi Network's Mainnet Migration Roadmap Leaves Users Frustrated, 41M PI Withdrawn

Pi Network, a blockchain project with a vast user base, has unveiled a roadmap for its Mainnet migration, detailing a three-phase process for token movement. This roadmap was intended to guide millions of users, known as "Pioneers," into the open Mainnet era. However, the absence of specific timelines has left users frustrated and uncertain about the future of their PI tokens. The roadmap outlines the migration of mining rewards, referral bonuses, and node payouts, but it does not provide concrete dates for these transitions, leading to widespread confusion and mistrust.

Users are left guessing about when their PI tokens will become usable, how many are queued for movement, and how long the process will take. The platform's admission that the "transferable balance" display may be lower than actual holdings has further deepened user skepticism. Some users are now questioning the very foundation of the project, wondering how a blockchain could pre-mint all tokens yet require years of mining, or if there was ever a real chain behind the interface at all. This lack of clarity has sparked concerns about the project's transparency and credibility.

Meanwhile, unusual activity around PI has caught the market's attention. Over 13 million PI coins were withdrawn from a major exchange in a series of rapid, high-value transactions traced to the same buyer. In less than 48 hours, this address executed three massive transfers totaling over 41 million PI, worth roughly $27 million. This sudden outflow has sharply reduced the exchange's available PI supply, fueling speculation of an incoming price breakout. The off-exchange accumulation suggests rising conviction among insiders or whales preparing for something bigger, as exchange reserves are drying up fast.

Despite the massive withdrawal, Pi Network's price action remains muted. At the time of reporting, PI traded at $0.64, showing barely any movement amid low volume. The Relative Strength Index (RSI) was at 44, indicating weak momentum and no signs of immediate reversal. The On-Balance Volume (OBV) was at -13.56M, reflecting persistent sell pressure since March. However, the sideways consolidation since early April hints at potential accumulation. If buyers continue draining exchanges, a supply shock could flip sentiment quickly. Until then, bulls need to reclaim $0.75 to break this downtrend and revive market confidence.