The DePIN Explorer - DePIN Scan

In the fourth quarter of 2024, Filecoin made a significant shift in its storage model, focusing on enterprise adoption rather than merely increasing raw storage capacity. This strategic pivot led to a decrease in total storage capacity from 4.8 EiB to 4.2 EiB, highlighting a reduction in incentives for adding more storage. However, the network's storage efficiency improved, with utilization rising to 32%, up from 31% in the previous quarter. This transition is particularly beneficial for long-term data storage, AI workloads, and compliance requirements, marking a clear move towards high-value storage services. Filecoin's enterprise-focused strategy has resulted in a notable 10% quarter-over-quarter increase in clients, bringing the total to 2,263 in Q4 2024. Among these clients, 751 are managing large datasets exceeding 1,000 TiB, indicating a growing demand from enterprises for secure and cost-effective decentralized storage solutions. The collaboration with Qamcom DDS to enhance storage security and capacity through DeStor has further solidified Filecoin's position in the market, attracting customers like YayPal and Fieldstream who require robust infrastructure for massive data storage. Financially, Filecoin experienced substantial inflows, with deposits reaching $99 million in Q4, a 21% increase from $82 million in Q3. Despite a 50% rise in outflows to $75 million, the overall demand for liquidity reflects a thriving lending market. Additionally, the price of FIL surged by 30% to $4.9, with the circulating market cap increasing by 36% to $3.0 billion. With major upgrades to its decentralized physical infrastructure network (DePIN), including the launch of the "Tuk Tuk" upgrade and advancements in the Filecoin Fast Finality mechanism, Filecoin is well-positioned for continued growth in 2025 as a leader in enterprise-centric decentralized storage solutions.

Recent court documents have unveiled that FTX liquidated $1.53 billion in assets belonging to Three Arrows Capital (3AC) just two weeks prior to the hedge fund's collapse in 2022. This revelation contradicts earlier narratives that attributed 3AC's downfall solely to market conditions. Once valued at over $10 billion, 3AC faced a significant crisis after a series of leveraged trades went awry, leading to its eventual bankruptcy amid the May 2022 crypto crash, which saw Bitcoin plummet to $16,000. The hedge fund had borrowed extensively from over 20 large institutions before its collapse. The newly discovered evidence indicates that 3AC was unaware of FTX's liquidation actions due to the latter's own bankruptcy proceedings. As a result, 3AC has sought to increase its claim against FTX from $120 million to the full $1.53 billion, asserting that it only recently became aware of the liquidations. A court has ruled that 3AC acted in good faith, allowing it to pursue this larger claim in the ongoing bankruptcy case of FTX. Meanwhile, a British Virgin Islands court has frozen $1.14 billion in assets belonging to 3AC co-founders Kyle Davies and Su Zhu, as Teneo estimates that creditors are still owed approximately $3.3 billion following the hedge fund's collapse. Despite the significant sum involved, analysts suggest that even with the additional $1.53 billion, 3AC might not have been able to avert bankruptcy. Nicolai Sondergaard, a research analyst at Nansen, indicated that the hedge fund likely would not have met creditor claims or debt repayments even with the liquidated assets. The situation has drawn attention from industry figures, including Binance co-founder Changpeng Zhao, who expressed curiosity about FTX's potential involvement in the broader market turmoil during that period. The fallout from 3AC's collapse continues to reverberate through the crypto landscape, raising questions about the interconnectedness of various entities in the market.

Chirp is revolutionizing the Internet of Things (IoT) by making it more accessible and encouraging DIY enthusiasts to explore their creativity. The company has introduced a DIY Raspberry Pi IoT gateway that allows users to automate various aspects of their lives, from home to farm. This initiative aligns with Chirp's decentralized ethos, aiming to break down the barriers between different IoT devices that typically do not communicate due to proprietary systems. With this gateway, users can engage in projects like smart chicken coops, mail delivery notifications, and hydroponics farming, all while learning and saving costs. The DIY IoT gateway is built using a Raspberry Pi 4, a RAK5146 LoRaWAN concentrator module, and a RAK2287 Pi HAT, among other components. Currently, this setup supports only LoRaWAN devices, but Chirp is actively working on expanding its capabilities to include Zigbee, BLE, and Thread devices through the integration of the nRF52840 USB dongle. This expansion will enhance the versatility of the home automation system, allowing users to connect a wider range of smart devices and create a more interconnected IoT ecosystem. Chirp encourages community involvement in this project, inviting users to contribute their ideas, improvements, and even custom software solutions. The company has provided comprehensive instructions for assembling the gateway and is eager to see how the community can further develop this initiative. As Chirp continues to innovate and expand its offerings, the potential for automation and smart technology integration grows, making IoT more fun and accessible for everyone. Whether you are a seasoned coder or a curious beginner, there is a place for you in the Chirp community to share and collaborate on exciting IoT projects.

Cryptocurrency exchange Gemini recently made headlines by organizing a record-breaking drone show that featured a massive Bitcoin logo, celebrating the US Strategic Bitcoin Reserve initiative. The event took place on March 13 in Austin, Texas, where 1,000 drones were deployed to create the largest aerial display of a currency symbol, officially recognized by Guinness World Records. The show not only showcased the iconic Bitcoin logo but also included depictions of significant milestones in space exploration, such as a rocket launch and moon landing, emphasizing the theme of innovation in the financial landscape. Gemini's drone display was designed to provoke thought about the future of money, with the Bitcoin logo accompanied by the phrase, "Go where dollars won’t." This creative approach highlights the growing acceptance and significance of cryptocurrencies in the modern economy. Following the event, Gemini received a certificate for achieving the record for the largest aerial display of a currency symbol formed by multirotor drones, marking a significant milestone in the intersection of technology and finance. The Bitcoin logo itself has a rich history, evolving over the past 16 years through community feedback. Initially created by Satoshi Nakamoto, the logo has undergone several iterations, with the current version featuring a bright orange background and the iconic “₿” symbol. This evolution reflects the dynamic nature of the cryptocurrency community and its adaptability to change. As Bitcoin continues to gain traction, events like Gemini's drone show serve to celebrate its legacy and future potential in reshaping the financial landscape.