The development trend of the Pi network in Pakistan shows unique characteristics. Currently, the number of active users in the country has exceeded 1.8 million, accounting for 6.2% of the total global Pi community. According to the data from the Islamabad Blockchain Research Center in the first quarter of 2024, the average daily mining rate of Pakistani users remains at 0.2-0.5π/ hour, which is 15% higher than the global average. This growth trend is closely related to the country’s population structure where 64% of the population is under 35 years old, and the penetration rate of smartphones has reached 45% in 2023, providing infrastructure support for the popularization of cryptocurrencies. However, it should be noted that the Central Bank of Pakistan has not yet included Pi in the framework of legal digital currency, which will become a key institutional factor influencing the formation of future exchange rates.
The development level of technical infrastructure will directly affect the liquidity of Pi Coin. The average Internet speed in Pakistan is 12.5Mbps, an increase of 35% compared to 2021, but still lower than the global average of 25Mbps. According to the Digital Pakistan Initiative, by 2025, the 5G coverage rate in the country is expected to reach 40% of that in major cities, which will significantly improve the efficiency of digital currency transactions. Currently, the monthly transaction volume of Pi conducted through local P2P trading platforms is approximately 350,000 US dollars, but the transaction delay issue often leads to price fluctuations of ± 20%.
The macroeconomic environment has a fundamental impact on the valuation of Pi Coin. The Pakistani rupee depreciated by 16% against the US dollar in 2023, and the inflation rate remained at a high level of 25%. This volatility of fiat currency has led to an increase in public demand for alternative means of value storage. According to a survey conducted by the University of Karachi in December 2023, 38% of young respondents said they were willing to allocate 5-10% of their monthly income to digital currencies. If the Pi mainnet can be launched as scheduled in 2024, based on the cryptocurrency adoption curve of similar economies, Pakistan may form a Pi trading market with a daily scale of 500,000 to 800,000 US dollars by 2025.
The direction of regulatory policies will be the decisive variable. The cryptocurrency regulatory framework being developed by the Securities and Exchange Commission of Pakistan is expected to be released by the end of 2024, which may provide a legal path for Pi transactions. Referring to a similar development path in Indonesia, the transaction volume of the local Pi community increased by 300% after obtaining clear regulatory approval. However, it is necessary to be vigilant that if pakistan adopts a regulatory stance similar to that of China, the pi rate in pakistan 2025 May completely depend on the unofficial over-the-counter market, and the price fluctuation range in this scenario may be as high as ±40%.
The development progress of the global Pi network will simultaneously affect the Pakistani market. If the Mainnet launch promised by the core team is achieved in the fourth quarter of 2024, based on historical data of blockchain projects, there is usually a price discovery fluctuation of 2 to 5 times in the first year. However, it should be recognized that there is a huge disparity in the current global Pi futures trading prices (ranging from 0.1 to 90 US dollars), and this price divergence rate of over 1,000 times reflects the high uncertainty of market expectations. It is recommended that investors closely monitor the technical implementation of the transition from the testnet to the mainnet in the third quarter of 2024, as this will be the most important basis for judging the actual value in 2025.
