The DePIN Explorer - DePIN Scan

**Regulators Acknowledge Benefits of Decentralized Physical Infrastructure Networks (DePIN)** Regulators have recognized the unique advantages brought by decentralized physical infrastructure networks (DePIN), as stated by Greg Osuri, the founder of Akash, a DePIN protocol. Osuri aims to persuade regulators that DePIN should be supervised differently from other crypto sectors. A recent meeting with a key staffer from the U.S. House committee overseeing commerce and trade was described as 'productive' by Osuri. Akash and competitor InFlux Technologies have joined forces to establish a DePIN and Web3 advocacy group to create a regulatory framework for the sector. Advocates of DePIN emphasize the real-world value these projects offer by granting users control over physical infrastructure networks using blockchain technology. Alvaro Garcia from Borderless Capital highlighted that DePIN projects stand out from traditional crypto ventures as their value is derived from outside the crypto sector. Osuri echoed this sentiment, mentioning that regulators are taking notice of DePIN's disruptive potential in mainstream markets. VCs like Borderless Capital have shown interest in DePIN, with a recent $100 million fund dedicated to the sector, investing in projects like Helium and GEODNET. Osuri argues for a distinct regulatory approach for DePIN compared to sectors like DeFi. Akash and InFlux Technologies have formed an advocacy group to educate regulators on the unique value proposition of DePIN. Osuri stressed the importance of differentiating DePIN from other crypto sectors in regulatory discussions to ensure lawmakers understand its distinct characteristics and benefits. Despite utilizing crypto features, Osuri believes that emphasizing the advantages of DePIN is more crucial than focusing on the 'crypto' aspect.

The Storj team has made a significant move by resuming deposits of STORJ tokens into Binance after a seven-month break, transferring 5 million STORJ tokens valued at approximately $2.99 million through GSR Markets. This action follows a pattern reminiscent of their previous activities from late 2023 to early 2024, where they began regular deposits as the token price increased. From November 2023 to March 2024, Storj deposited a total of 37.9 million STORJ tokens at an average price of $0.809, resulting in approximately $30.64 million in net gains. However, this influx of tokens often led to downward pressure on the token's price, a trend that seems to be repeating itself now. In the last 24 hours, the price of STORJ surged by 27.64%, coinciding with the deposit of 10 million STORJ tokens (valued at $5 million) into Upbit just 10 hours prior. This price spike aligns with historical patterns where the token price tends to rise before large deposits are made by the Storj team, followed by a sell-off. The team appears to be capitalizing on these price increases, profiting from favorable market conditions while maintaining a strategic silence regarding their trading activities. The wallet “0x6e6” currently holds 1.54 million STORJ tokens, valued at around $920,000, suggesting that further movements may occur. The repetitive nature of these price spikes, deposits, and subsequent sales has raised concerns within the crypto community, as traders remain cautious about potential price declines following these large transactions. As always, participants in the market are advised to conduct thorough research before making any investment decisions in the volatile cryptocurrency landscape.

The cryptocurrency market is currently experiencing a mid-week bearish trend following an initial bullish momentum. AI tokens, which recently captured significant attention, are now consolidating, potentially indicating a bullish reversal. However, notable pullbacks are observed in trading sets for Bittensor (TAO), Artificial Superintelligence Alliance (FET), and Render (RENDER). This scenario may present a strategic opportunity for investors to accumulate these tokens at discounted prices, despite the current market fluctuations. Bittensor (TAO) has recently made headlines with a remarkable price surge exceeding 200%. However, this upward movement has been accompanied by minor pullbacks, which have historically attracted bullish activity. Currently, TAO is positioned within a rising parallel channel, suggesting the potential for another higher high. While the price is expected to overcome upward pressure and aim for new highs, a decline in trading volume could limit volatility. The on-balance volume (OBV) is also showing lower highs and lows, raising concerns about the sustainability of the current price levels. On the other hand, the Artificial Superintelligence Alliance (FET) is navigating a bullish pattern despite intermittent bearish pressures. The token is testing crucial support levels, which could lead to a rebound. However, technical indicators are showing bearish tendencies, indicating a potential pullback. Meanwhile, Render (RENDER) is maintaining its bullish trajectory, supported by an ascending trend line. Although selling volume has increased, the price is expected to consolidate before initiating a rebound. Overall, while the market faces challenges, opportunities for strategic investments in these AI tokens may arise as the situation evolves.

The Helium (HNT) token has shown signs of a bullish recovery over the past two days, aided by its 200-day Exponential Moving Average (EMA) on the daily chart. Currently, the token is trading 46.25% below its all-time high (ATH), suggesting a potential for a breakout rally. However, market analysts warn of a possible bull trap around the $8 mark, where a strong sell point exists. This volatility raises questions about the wisdom of investing in Helium amidst fluctuating market sentiments. In recent trading, Helium's price has experienced increased volatility, with a 10.39% correction over the past week and a 14.47% decline in the last 30 days. Despite these setbacks, the token has recorded a 4% increase in the last 24 hours, with a trading volume of $15.46 million, albeit down by 45.41%. The bearish trend indicated by the 50-day EMA contrasts with the support provided by the 200-day EMA, reflecting uncertainty in the market. The Relative Strength Index (RSI) indicates a neutral trend, suggesting a balance between buying and selling pressures. Looking ahead, if bullish momentum continues, HNT could retest its resistance level of $6.525 this week. Sustaining above this level may pave the way for a rise toward the $8 resistance in the coming weeks. Conversely, a bearish turn in the crypto market could see Helium drop to its support level of $5.155, with further declines potentially reaching the lower support trendline of $3.80. Investors are keenly observing these developments to gauge the long-term prospects of this digital asset.