The DePIN Explorer - DePIN Scan

Crust Network, a prominent player in decentralized storage solutions, has announced a new partnership with Yoghourt Cloud through its Crust Grants Program. This collaboration aims to enhance the functionality of the InterPlanetary File System (IPFS), thereby improving the scalability and usability of the decentralized web. Yoghourt Cloud, a decentralized storage platform that utilizes the IPFS protocol, will receive funding to support its development efforts. The grant will focus on optimizing storage and retrieval processes, ensuring faster and more reliable file access for users, while addressing key challenges in decentralized storage such as data availability and latency. The objectives of this grant project are multifaceted. Firstly, Yoghourt Cloud plans to leverage Crust’s advanced storage architecture to develop more efficient storage management techniques for IPFS. This includes upgrading storage protocols and enhancing retrieval speeds to improve overall performance. Additionally, the integration of Crust’s decentralized storage capabilities into Yoghourt Cloud will provide users with a robust and scalable solution for their data storage needs. The project also aims to implement user-friendly upgrades, such as faster file uploads and smoother retrievals, which will enhance the overall user experience across the platform. Crust Network's commitment to decentralized storage infrastructure for Web3 is further exemplified through this grant. By supporting innovative projects like Yoghourt Cloud, Crust seeks to make IPFS more practical and accessible to a broader audience. This partnership not only marks a significant step in improving decentralized storage systems but also aims to strengthen the IPFS ecosystem, benefiting a wide range of decentralized applications (dApps). Together, Crust and Yoghourt Cloud are set to drive the future of decentralized storage, exploring new possibilities and optimizing existing solutions for Web3 applications.

In a groundbreaking announcement, C4E has partnered with Native to enhance the utility of Bitcoin within its ecosystem. This collaboration leverages Native's Bitcoin Liquidity and Interoperability Scaling Stack (BLISS), which aims to integrate Bitcoin into C4E's energy and e-mobility products. By doing so, C4E seeks to empower Bitcoin as a valuable asset within its network while simultaneously contributing to the green transformation of both the Bitcoin and energy industries. The immediate focus will be on integrating BLISS with C4E's existing Layer 1 DePIN Blockchain infrastructure, enabling users to access native Bitcoin across the C4E and IBC ecosystems. The integration of BLISS will allow C4E's energy and e-mobility products to benefit from Bitcoin's liquidity and security. Users will be able to engage in cross-chain transfers, manage multi-chain liquidity, and explore innovative use cases. This partnership marks a significant advancement in incorporating Bitcoin's robust security and liquidity into Cosmos-based applications, paving the way for staking services, collateral deployment, and advanced trading strategies within the C4E and IBC ecosystems. Looking ahead, C4E plans to explore Bitcoin restaking, which would enable BTC holders to actively participate in securing the C4E and IBC ecosystems. This shift could transform Bitcoin from a passive store of value into an active participant in the security of interconnected chains. The introduction of these services is expected to create new financial primitives and unlock economic opportunities for Bitcoin holders, as well as for the broader C4E and IBC networks. Together with Native, C4E is committed to fostering a future where Bitcoin plays a pivotal role in decentralized applications and market dynamics, contributing to a more sustainable energy and e-mobility landscape.

In a recent analysis of a16z's report on the "State of the Crypto Industry," Lily Liu, Chair of the Solana Foundation, highlights a notable EVM bias that overlooks Solana's impressive achievements in transaction fees, NFTs, and the DeFi market. Despite Solana leading in NFT addresses and transaction volume over the past year, the report fails to acknowledge significant innovations in decentralized physical infrastructure networks (DePIN), such as Helium and Hivemapper, which thrive within the Solana ecosystem. Liu argues that the report's binary framework, which positions EVM and non-EVM ecosystems as oppositional, misrepresents the true landscape of blockchain development and user engagement. Liu emphasizes the importance of transaction fees as a more meaningful metric for assessing ecosystem activity and health, rather than relying solely on active addresses or Total Value Locked (TVL). Since introducing a fee market, Solana's transaction fee market share has surged from below 1.5% to consistently above 10%, peaking at 25% in July 2024. This shift indicates a growing economic value within the Solana ecosystem, narrowing the gap with Ethereum when considering Real Economic Value (REV). Furthermore, Liu critiques the report's gaming sector analysis, which fails to adequately include non-EVM networks like Solana, leading to incomplete comparisons that do not reflect the full blockchain gaming ecosystem. Additionally, Liu points out that the report's focus on TVL for DeFi comparisons is insufficient, as it overlooks critical metrics such as transaction volume. While Solana's TVL is only 10% of Ethereum's, its monthly DEX transaction volume often exceeds that of Ethereum, highlighting its capital efficiency. Liu also notes that Solana's low transaction costs have driven significant consumer behavior changes, exemplified by the success of platforms like Drip Haus. The absence of DePIN innovations within the report raises questions about its comprehensiveness, as groundbreaking projects like Helium and Hivemapper are primarily developing within the Solana ecosystem, showcasing the real-world applications of decentralized networks.

Helium (HNT) has recently shown remarkable resilience in a generally bearish cryptocurrency market, gaining approximately 12% over the past week. As of the latest updates, HNT is trading at $6.88, having outperformed Bitcoin (BTC) and many other decentralized physical infrastructure (DePIN) tokens. This surge in price is attributed to increased buying pressure, as indicated by the Relative Strength Index (RSI) crossing above 50 for the first time in over two weeks. Additionally, network activity has spiked, with weekly fees reaching a three-month high, further fueling bullish sentiment among investors. The technical indicators surrounding HNT suggest a potential for continued growth. The Moving Average Convergence Divergence (MACD) has shown a bullish shift, crossing above the signal line, although it remains in negative territory. This indicates that while there is growing strength among buyers, the overall trend has not yet fully reversed. The V-shaped recovery observed on the daily chart reinforces the notion that HNT is rebounding strongly after a previous decline. If the current buying momentum persists, HNT could reach the 1.618 Fibonacci level of $7.81, marking a complete recovery from its recent lows. Moreover, the derivatives market is witnessing increased interest in HNT, with futures trading volumes rising by 60% and Open Interest climbing to its highest level in nearly three weeks. This uptick in speculative activity could lead to increased volatility in HNT's price. The Long/Short Ratio of 1.04 indicates a balance between long and short positions, suggesting that traders are cautiously optimistic about HNT's upward trajectory. Despite a positive crowd sentiment, it is noteworthy that smart money remains bearish, highlighting a divergence in market perspectives that could influence HNT's future performance.