The DePIN Explorer - DePIN Scan

Exabits, a crypto-AI startup focusing on tokenizing GPUs, has successfully raised $15 million in a seed funding round led by Hack VC. This funding round has propelled Exabits' valuation to $150 million. The startup, co-founded by Dr. Hoansoo Lee, initiated fundraising in July and concluded the round in October. While the specific investors beyond Hack VC remain undisclosed, Lee mentioned that a token launch is on the horizon. With this seed funding, Exabits has accumulated a total of $20 million in funding, building upon previous rounds earlier this year. Exabits' primary objective is to decentralize computing by tokenizing GPUs, which it considers as 'the currency of the digital age.' Lee emphasized the exponential growth potential of GPU compute performance compared to traditional assets like bitcoin and gold. The startup's unique GPU tokenization model aims to provide direct exposure to GPU compute assets, fostering a liquid market, revenue generation, and rewards for token holders. Despite the token not being launched yet, Exabits has witnessed substantial revenue growth, with a 300% quarterly increase on average, amounting to $10 million in annual recurring revenue (ARR).

Bitcoin has officially reached a monumental milestone, hitting the $100,000 mark. This achievement is a testament to its evolution from a niche digital currency to a mainstream financial asset. In 2017, Bitcoin first crossed the $10,000 threshold, marking a significant moment for the cryptocurrency community. Back then, Bitcoin was often seen as a quirky alternative, primarily used for small purchases like pizzas. However, the journey since then has been nothing short of remarkable, characterized by extreme volatility and a growing belief in its potential as a store of value. The surge to $69,000 in 2021 was another pivotal moment, fueled by a mix of institutional investment and retail enthusiasm. This unprecedented price jump was likened to a rocket launch, showcasing the growing acceptance of Bitcoin as a legitimate asset class. Factors such as institutional recognition and social media influence played crucial roles in this ascent. Yet, the cryptocurrency market is notorious for its fluctuations, and Bitcoin's price corrections serve as a reminder of the inherent risks involved in trading digital currencies. As we look towards 2024, the political landscape, particularly the upcoming U.S. elections, is influencing Bitcoin's trajectory. Amidst political uncertainty, many investors are turning to Bitcoin as a hedge against potential economic instability. Its decentralized nature and limited supply position it as a viable alternative to traditional assets. While the future remains uncertain, Bitcoin's rise to $100,000 is a clear indication that it has cemented its place in the global financial system, making it a topic of serious discussion among investors and financial experts alike. This milestone is not the end but rather a new chapter in the ongoing cryptocurrency revolution.

Helium (HNT) has recently captured market attention with a notable price surge of approximately 10% over the last 24 hours. This bullish momentum is further highlighted by a 12% increase in trading volume, indicating a significant uptick in investor interest. As the token approaches a critical resistance level at $9.5, market participants are keenly observing whether this rally can sustain its strength or if it will face a pullback. A successful breakout above this resistance could potentially lead Helium towards the psychological milestone of $10, while failure to breach this level may result in a downward correction. The daily chart for Helium shows a clear uptrend, supported by an ascending trendline that traces back to recent lows around $2.8. Currently, the price is nearing the $8.2 support level, which previously acted as resistance in an ascending triangle pattern. Additionally, data from Coinglass reveals a liquidation pool of 56.70K at the $8.3648 price level, indicating rising risks among over-leveraged traders. This scenario, coupled with increasing Open Interest (OI) trends, reflects growing confidence in Helium's price action, suggesting that traders are optimistic about the token's future performance. Broader market conditions have also been favorable, with Bitcoin's steady price providing a supportive backdrop for altcoins like Helium. As the token nears the pivotal $9.5 resistance level, it will require substantial buying pressure from bulls to maintain the uptrend. The market's reaction at this critical juncture will be crucial; a breakout could trigger a swift rally towards $10, while a rejection might push the price back to the support zone between $7.8 and $8. Overall, the current indicators suggest a potential bullish trend, but market participants remain cautious as they await further developments.