IoTeX Pioneers DePIN: From Layer 1 to Modular Infrastructure

**XProtocol, Built on Base Chain, Unveils XForge as 'World's First Node-Operated DePIN Smartphone'** XProtocol, an entertainment-focused blockchain built on the U.S. crypto exchange Coinbase's Ethereum layer-2 network, Base, has unveiled what it says is 'the world’s first node-operated DePIN smartphone.' The Web3 startup’s new Android device, XForge, functions as a fully operational blockchain node. Users can participate in the DePIN network directly from their phone, earning rewards, airdrops, and cryptocurrency incentives. XForge represents the next evolution in mobile devices, combining blockchain power with smartphone convenience. **Oasys, Arbitrum Foundation, Uprising Launching First Gaming-Focused Arbitrum Orbit Chain Beyond Ethereum** Oasys, Arbitrum Foundation, and layer-2 Uprising have collaborated to launch the first gaming-focused Arbitrum Orbit blockchain beyond Ethereum. Uprising, a layer-2 gaming yield blockchain, and Oasys, a layer-1 gaming chain, are working together to enhance Web3 gaming through Arbitrum Orbit technology. This deployment marks a significant step for blockchain gaming outside Ethereum, showcasing a shared vision for the future of blockchain gaming. **Bitcoin Staking Protocol Babylon Forms Strategic Alliance With Asphere to Allow Developers to Deploy Customizable L2s** The Babylon Bitcoin staking protocol has formed a strategic alliance with Asphere to empower developers with a solution for launching innovative Bitcoin layer 2s. This collaboration aims to allow developers to deploy highly customizable L2s backed by the security of the Bitcoin network. By leveraging Bitcoin's liquidity and market cap, developers can achieve fast finality when building new use cases within the blockchain ecosystem.

DePIN Altcoins Showing Potential Gains in October As broader market sentiment improves, tokens that power Decentralized Physical Infrastructure Networks (DePINs) are among the altcoins showing potential gains in October. Notable DePIN coins to watch next month include Bittensor (TAO), Robonomics Network (XRT), Render (RENDER), Anyone Protocol (ANYONE), and IAGON (IAG). Bittensor (TAO) Climbs to Multi-Month Highs The value of TAO, the token that powers Bittensor’s decentralized machine learning network, has spiked by 78% over the past week. The altcoin now trades at a price level last recorded in April. TAO currently enjoys a significant bullish bias, as evidenced by its rising on-balance volume (OBV). When an asset’s OBV rises, it indicates that buyers have the upper hand in the market. It suggests that buying pressure is high, and traders and investors are confident in the asset’s potential to increase in value. If the uptrend continues, TAO could break above $651.34, turning this level into a support floor. Should this occur, the altcoin may be poised for a rally toward its all-time high of $774.86, last reached on April 11. Robonomics Network (XRT) Sees Surge in Demand XRT, the utility token of the Robonomics network, a decentralized cloud storage provider, is currently trading at $4.72, following an impressive 83% increase over the past week. It ranks as the top-performing DePIN coin in terms of growth over the last seven days. XRT’s rising Chaikin Money Flow (CMF), which tracks the flow of money into and out of the asset, reflects solid demand. With a CMF value of 0.08, the data shows that buying pressure is outpacing selling activity, supporting the token’s price increase. Additionally, XRT’s on-balance volume (OBV), which measures the cumulative money flow into and out of the asset, has surged 33% over the past week. This rise in OBV indicates that more buyers are entering the market, fueling the token’s price momentum. If the buying pressure continues, XRT could reach $7.71. However, a sharp increase in profit-taking could reverse this trend, potentially driving XRT’s price down to a monthly low of $1.84. Render (RENDER) Rallies Past Key Moving Averages RENDER is currently trading at $6.10, marking a 31% increase over the past week. This surge has pushed the token above two key resistance levels, its 20-day exponential moving average (EMA) and 50-day simple moving average (SMA), which have been obstacles since June. As of now, RENDER’s 20-day EMA, reflecting the average price over the last 20 trading days, stands at $5.42. Meanwhile, the 50-day SMA, a longer-term indicator tracking the average closing price over the past 50 days, is $5.10. This breakout suggests strong momentum for RENDER as it moves past these critical levels. When an asset trades above these key averages, its uptrend is gaining momentum and is likely to continue. If RENDER successfully flips these key levels into support, its price may rally toward $7.26.

Theta Labs has signed a multi-year agreement with Seoul Women’s University to provide its AI research lab access to Theta EdgeCloud’s decentralized GPU computing power. The partnership aims to boost computational power for AI research in healthcare, bioinformatics, and finance by leveraging Theta EdgeCloud's network of GPUs. Built on the Theta Network, Theta EdgeCloud offers scalable GPU computing resources for AI, media, and entertainment applications. The project secured a $1 million investment from VC firm DWF Labs last year. The collaboration with SWU exemplifies how decentralized physical infrastructure networks can solve real-world problems, reducing costs and increasing research productivity. Theta EdgeCloud reduces GPU costs by 50-70% and accelerates setup times, benefiting the entire AI ecosystem. The DePIN sector, including projects like Theta EdgeCloud, is rapidly growing in the crypto space, with Messari forecasting a market value of $3.5 trillion by 2028. Early-stage DePIN projects have raised over $246 million across 70 deals by August 2024, marking a 296% surge year-over-year.

DePIN, the sector bridging everyday life with the digital world, is booming with Helium emerging as one of the fastest-growing networks in crypto. Over the last 30 days, DePIN's market cap surged by 22.7%, reaching $20 billion with a 400% increase. The fundraising volume also saw a 296% surge year-over-year, indicating massive growth and investor confidence. With over 100 projects in development, DePIN's potential is undeniable, attracting both developers and investors. Helium, for instance, attracted 756,000 real users on June 18, transferring 19.1 TB of data on their network. This success showcases DePIN's seamless integration into daily life, making blockchain technology accessible without users even realizing it. The sector's rapid expansion and promising future make DePIN a major player in the crypto market.

SEC issues warning to FTX over proposed repayment plan involving stablecoins and cryptocurrencies. FTX, facing an $8 billion deficit, aims to repay creditors up to 118% of their claims in cash, with only claims under $50,000 eligible. While some creditors prefer crypto payments, SEC raises concerns about lack of clarity and regulatory compliance. U.S. Trustee also objects to the plan, criticizing a provision shielding FTX debtors from legal actions. The crypto community, including Coinbase's Chief Legal Officer Paul Grewal, criticizes SEC's stance for lack of clear guidance on crypto transactions.

Helium's native token (HNT) has surged by over 18% in the past week, outperforming many other cryptocurrencies. The rise in price is attributed to the growth in Helium's mobile subscribers, which now exceed 112,000. This surge follows a 40% spike in price just two months ago when the subscriber count crossed 100,000. Helium's decentralized wireless network, focused on IoT, has seen rapid adoption, with Hotspots serving as wireless gateways and mining nodes. Technical analysis suggests potential for further gains, with resistance expected at $9.00 and possible targets at $11.50 - $12.00 and even $14.00. Support levels are crucial between $6.00 and $7.00. The overall outlook for HNT remains bullish, driven by its innovative DePIN model and expanding user base.