Latest DePIN Funding News

Orchid (OXT) has recently witnessed a remarkable surge in trading activity, with its trading volume skyrocketing by an astonishing 2500% within just 24 hours. This surge in trading volume, which reached a cumulative total of $547.74 million, indicates a significant increase in demand for the cryptocurrency. Alongside this, OXT's price has also experienced a notable uptick, rising by 30% during the same period. The data from AMBCrypto and CoinMarketCap highlights that this surge is not just a fleeting moment but rather a reflection of growing investor interest and adoption of the Orchid platform. The increase in trading volume has been accompanied by a corresponding rise in Open Interest, which has surged to a new all-time high of $19 million, marking an increase of 253.88%. This combination of rising trading volume and Open Interest suggests that investors are actively opening new positions, predominantly leaning towards buying. The price of OXT has seen a significant upswing, climbing from a low of $0.0768 to a high of $0.1598, with current trading around $0.1297. The altcoin has also demonstrated impressive gains on both weekly and monthly charts, with increases of 43.15% and 75.15%, respectively. Moreover, the bullish sentiment surrounding OXT is further evidenced by a spike in outflow volume, which has reached a high of $7.1 million. This indicates that many investors are opting to move their assets into cold storage or private wallets, rather than keeping them on exchanges. Additionally, large holders have shown increased interest, with inflows hitting a year-high of 255.79 million OXT tokens. This suggests that significant accumulation is taking place among large investors. If the current trends continue, OXT could potentially face resistance around $0.17, while profit-taking by short-term holders could lead to a drop to $0.09.

Somnia, described as "the dream computer for a fully on-chain world," has announced a strategic partnership with Ankr, a leading RPC node provider in the blockchain industry. This collaboration aims to enhance Somnia's ecosystem by providing developers with top-tier infrastructure, cost efficiencies, and innovative opportunities. The partnership is set to facilitate the on-chain integration of data, empowering developers with essential tools necessary for their success in the blockchain space. One of the standout features of this partnership is the provision of industry-leading RPC and subgraph services by Ankr, which will ensure that developers experience high performance and reliability while building on Somnia's blockchain. Additionally, Ankr is offering a generous free tier that allows developers to make up to 1 million free RPC calls per day. This initiative significantly reduces costs for developers, making Somnia an appealing platform for creating scalable decentralized applications. Furthermore, the two companies will collaborate on a hackathon aimed at fostering innovation within the Somnia ecosystem, inviting developers to explore the capabilities of Somnia's high-throughput blockchain. The partnership reflects a shared commitment between Somnia and Ankr to empower developers and expand the horizons of blockchain technology. By providing transparent and affordable pricing for developers, Ankr aligns with Somnia's philosophy of supporting builders in the decentralized application space. Together, they aspire to create a vibrant ecosystem where innovative dApps can thrive and reach a global audience, marking a significant step forward in the evolution of Web3 technology.

This week, decentralized distributed GPU resource platform io.net announced a strategic partnership with OpenLedger, a data blockchain specifically designed for artificial intelligence (AI). This collaboration will enable OpenLedger to utilize io.net's global GPU compute resources, enhancing its ability to refine and train AI models. Known as the Internet of GPUs, io.net provides a powerful network of distributed GPU resources, allowing OpenLedger to accelerate the development of its AI models and empowering developers to create more efficient AI-based decentralized applications (DApps). According to Tausif Ahmad, Vice President of Business Development at io.net, this partnership will provide OpenLedger with a reliable infrastructure to scale its AI models and unlock new use cases, reinforcing its position as an innovative provider in the decentralized AI space. In addition to providing GPU resources, io.net's infrastructure will support the inference and hosting of AI models, ensuring optimal performance and scalability. This partnership is expected to enhance OpenLedger's reputation as a leading provider of reliable datasets, fueling innovation at the intersection of blockchain and AI. The collaboration aims to create high-quality data securely and efficiently while driving innovation and performance. A team member from OpenLedger emphasized that leveraging io.net's GPU infrastructure will allow users to fine-tune AI models more efficiently, ultimately leading to the development of trustworthy and explainable AI models. A significant factor in OpenLedger's choice of io.net as its GPU resource provider is the cost-effective and scalable compute solutions offered. This partnership will enable OpenLedger to expand its services without the constraints of high costs associated with centralized cloud providers. By processing larger datasets and developing AI models with unprecedented efficiency, OpenLedger aims to push the boundaries of decentralized AI innovation. Ultimately, this partnership aligns with OpenLedger's mission to foster an open, collaborative data environment while promoting the adoption of blockchain-powered AI solutions.

The rise of decentralized physical infrastructure networks (DePIN) is becoming increasingly significant in the energy sector, with various tokens leading the charge. Notable players such as Filecoin (FIL), Theta Network (THETA), BitTorrent (BTT), MultiversX (EGLD), and AIOZ Network are at the forefront of this movement, showcasing their potential in decentralized data storage, content delivery, and blockchain-driven energy solutions. As the demand for decentralized energy data storage grows, these tokens are not only innovating but also presenting lucrative opportunities for investors and developers alike. Filecoin continues to establish itself as a leader in decentralized storage, particularly within the renewable energy data management space. As of the latest data from Coinmarketcap, Filecoin's price is $5.70, with a robust 24-hour trading volume of $721 million. The token experienced a slight increase of 1.43% yesterday, indicating a steady interest from the market. Similarly, Theta Network is gaining traction, demonstrating its critical role in addressing energy visualization needs, which is essential for optimizing energy consumption and distribution. Moreover, AIOZ Network is emerging as a key player with its focus on real-time energy monitoring through decentralized technology. This capability is vital for enhancing the efficiency of energy systems and ensuring better resource management. As these DePIN tokens continue to evolve, they are likely to play an increasingly important role in shaping the future of energy management and blockchain integration, making December a pivotal month for stakeholders in this innovative sector.

Hivemapper Network has announced a proposal to increase the price of map credits from $0.005 to $0.0075, effective January 1, 2025. This adjustment is part of a strategy to stabilize the price of map data for end customers while ensuring that the value accrued from customer spending benefits the Hivemapper Network. Map Credits, which are generated by burning HONEY, play a crucial role in this ecosystem, as developers must redeem them to access network data. The proposed increase aims to enhance the deflationary trajectory of HONEY by allowing a greater share of revenue to flow back into the network, thereby supporting its long-term sustainability. The Hivemapper Network operates on a Burn and Mint model, where map contributors earn HONEY for submitting data, while developers burn HONEY to access this data. This system is designed to balance supply and demand effectively. By raising the price of map credits, the network anticipates that developers will still find it viable to build value-added products, as the increased costs will be offset by the potential for higher profit margins. The leadership at Bee Maps, the first developer on the network, has expressed confidence that this price adjustment will not adversely affect network usage, indicating a manageable margin compression. Community engagement is encouraged as the proposal moves forward. Members of the Hivemapper community are invited to share their thoughts and feedback during a comment period from November 26 to December 2, 2024. The Hivemapper Foundation emphasizes the importance of collaboration in refining the network's design to achieve the goal of creating the world’s freshest map. This proposal reflects a commitment to both developer incentives and the overall health of the Hivemapper ecosystem.

In a significant development for the decentralized AI landscape, Stratos has announced a partnership with Cortensor, a leader in decentralized AI inference networks. This collaboration aims to enhance decentralized AI infrastructure by integrating Stratos' robust decentralized storage and streaming solutions into Cortensor's innovative AI ecosystem. The partnership is set to provide secure and scalable data storage, ensuring that both public and private AI workloads can operate seamlessly and reliably, thereby improving overall network performance. One of the key features of this partnership is the introduction of real-time inference streaming capabilities. Stratos' advanced video streaming APIs will enable Cortensor to deliver instantaneous AI inference outputs, facilitating dynamic applications and user-driven tasks. This enhancement is expected to optimize performance for AI workloads, as Stratos' high-throughput infrastructure will improve node-to-node communication, ensuring efficient data flow even in high-demand environments. This is a crucial step towards making advanced AI tools more accessible and cost-effective. Both companies share a vision for a decentralized AI future, with Cortensor's Proof of Inference (PoI) and Proof of Useful Work (PoUW) systems validating tasks and rewarding contributors for meaningful work. Stratos, with its decentralized infrastructure supporting Web3 and AI solutions, boasts over 900 active global storage nodes and a capacity of 21 PB. This partnership not only exemplifies their commitment to innovation but also aims to unlock new possibilities for businesses, developers, and community-driven miners, ultimately building a more inclusive and scalable AI ecosystem. Stay tuned for further updates as they continue to push the boundaries of decentralized AI solutions.

Filecoin (FIL) has recently experienced a significant price surge, breaking past the long-standing resistance level of $4.83. This breakout is seen as a crucial technical advancement, as the altcoin had been trapped in a consolidation pattern for several months. Following this breakout, Filecoin's price reached $5.727, marking a 20.07% increase within just 48 hours. Analysts suggest that this rally is likely to continue, with the next key resistance level identified at $6.77, just 16% away from the current price. The growing confidence in Filecoin is further supported by data from Coinglass, which indicates that the OI-Weighted Funding Rate has been on an upward trajectory, reaching new local highs. This trend reflects an increasing bullish sentiment among market participants, as long-position holders are willing to pay a premium for their positions. The sustained positive Funding Rate suggests that investors are optimistic about Filecoin's near-term price movements, reinforcing the bullish outlook. Additionally, recent liquidation data highlights a substantial liquidation pool of 283.74K at the $6.262 price level, indicating strong market participation during the breakout. The Long/Short Ratio also shows a balanced distribution with a slight inclination towards long positions, suggesting that there is still room for further price increases before reaching excessive leverage levels. With the combination of rising Funding Rates, significant liquidation volumes, and a successful breach of the $4.83 resistance, the outlook for Filecoin's short-term price action appears increasingly bullish.

In recent developments within the cryptocurrency market, Bitcoin's dominance has seen a decline, as Ethereum and Bitcoin begin to reverse their trends. Notably, pro-crypto nominee Bessent has been selected for a position in the Treasury, indicating a potential shift towards more favorable policies for the crypto sector. Analysts like Van Eck predict that Bitcoin could reach $180,000 in this cycle, further fueling optimism among investors. Additionally, the Chicago Board Options Exchange (CBOE) is set to launch Bitcoin ETF-linked options in December, which could enhance market accessibility and liquidity. Meanwhile, the crypto community is facing challenges as the streaming platform PumpFun has come under fire for its content during live broadcasts. In a positive note for the industry, ZA Bank in Hong Kong has initiated crypto trading services, marking a significant step towards mainstream adoption in the region. Furthermore, Aethir has announced a $100 million investment in new crypto AI projects, showcasing the intersection of artificial intelligence and blockchain technology. This aligns with Salesforce CEO's vision of AI's future being dominated by agents. In other news, Cantor Fitzgerald has acquired a 5% stake in Tether, solidifying its position in the stablecoin market. However, Polymarket has decided to block French traders, reflecting ongoing regulatory challenges. The SEC commissioner is set to leave following Gensler's tenure, which may lead to changes in regulatory approaches. As the decentralized science (DeSci) movement draws parallels to early DeFi in 2019, the Monad project has rolled out its testnet, signaling continued innovation in the blockchain space.

In the rapidly evolving world of blockchain technology, Bless has emerged as a promising DePIN platform, recently launching its incentivized testnet. This platform, previously known as Blockless, aims to create a network of interconnected devices to meet the increasing computational demands of the AI sector. Users can participate in the project by simply downloading a browser extension, allowing them to share their bandwidth and contribute to the computational needs of various applications and decentralized services. In return, Bless rewards participants with tokens, fostering a community-driven model that shifts focus from institutional players to individual operators. The Bless platform's airdrop program is designed to be user-friendly, mirroring the successful model of its competitor, Grass. After downloading the browser extension, users can easily monitor their network-sharing activities through the Bless dashboard. To fully engage with the platform, users must activate a virtual DePIN device, or node, which facilitates communication with other infrastructures. Once operational, Bless automatically matches users' devices to appropriate workloads, allowing them to accumulate points effortlessly, which will later be converted into tokens. The anticipated airdrop is expected to occur by the second quarter of 2025, following the mainnet launch projected for early 2025. While the potential earnings from Bless's airdrop may not be life-changing, they should not be overlooked. Similar to Grass, which has provided users with substantial rewards, Bless offers an opportunity for users to earn without any financial commitment. The simplicity of participation—requiring only a device and an internet connection—makes it accessible to a broad audience. Furthermore, the growing interest in DePIN projects among crypto investors suggests that the initial listing of Bless tokens could yield favorable outcomes. Historical data from similar projects indicates that holding onto low-value airdrops can lead to significant gains, making Bless an attractive prospect for those looking to engage in the blockchain space with minimal effort.

Filecoin (FIL), a blockchain-based digital storage platform, is showing signs of potential upside momentum after being confined to a tight trading range for nearly five months. Currently, the cryptocurrency is trading between the $3.18 and $4.80 levels, with a bullish market sentiment prevailing across the crypto landscape. Recent technical analysis indicates that FIL has formed a bullish price action pattern on its daily chart, gaining strong support from both traders and investors. As the price approaches the breakout level, aggressive trading activity has been noted, particularly as FIL nears the critical $4.80 resistance level. If Filecoin successfully breaks out of this consolidation zone and closes a daily candle above $4.80, analysts predict a potential surge of up to 47%, which could see the asset reaching the $7.20 mark. The current trading position above the 200 Exponential Moving Average (EMA) further supports the uptrend, while the Relative Strength Index (RSI) suggests that FIL is in oversold territory, indicating a possible rally. This positive outlook is bolstered by increasing trader participation, as evidenced by a significant rise in open interest (OI) over the past 24 hours. On-chain metrics reveal that FIL's OI has surged by 7.9% in the last day, reflecting heightened trader activity. Major liquidation levels are identified at $4.43 on the lower side and $4.75 on the upper side, with traders currently overleveraged at these positions. If the price rises to $4.75, nearly $1.5 million in short positions may be liquidated, while a drop to $4.43 could lead to the liquidation of approximately $6.21 million in long positions. Overall, the combination of bullish technical indicators and strong on-chain metrics suggests that Filecoin is poised for a breakout, with bulls currently dominating the market.