Latest DePIN News

In a recent episode, Sean Carey, Partner at Borderless Capital, delved into the world of DePIN. The discussion revolved around the selling points of DePIN, the sustainability of DePIN projects, and the most suitable infrastructure for DePIN. The conversation also touched on the seamless integration of crypto with DePIN networks. Towards the end, the focus shifted to Solana's significant influence on the future of DePIN networks. DragonSwap: Transforming the DeFi Landscape DragonSwap, the DeFi Hub on Sei's Layer 1, is revolutionizing the decentralized exchange (DEX) scene. Operating on Sei's sub-second execution environment, DragonSwap is introducing an 'onchain CEX' model that utilizes chain-abstracted AVSs, enabling cross-chain asset transactions. With existing incentives and upcoming partnerships with Stargate and Frax, Sei users can anticipate more rewards in September. Dive into farming on Sei today at [dragonswap.app](https://dragonswap.app/). Subscribe and Stay Informed For more insights and updates on the crypto market, subscribe to the Blockworks Daily Newsletter. Stay tuned to Lightspeed for engaging discussions on DePIN, crypto, and Solana's role in shaping the future of decentralized finance.

Synesis Foundation, known for developing Solana’s first AI data pre-processing solution, has teamed up with AirMoney DEGN to introduce consumer hardware focused on DePIN. The collaboration aims to enhance the crypto experience beyond traditional wallets by offering features like web3 protocol interaction, cryptocurrency trading, and play-to-earn games through the AirMoney DEGN device. This partnership seeks to boost the popularity of crypto hardware within the DePIN ecosystem. **Synesis Milestone and Future Developments** Synesis recently achieved a significant milestone by completing over 1.5 million AI data transactions on Solana. CEO Isaac Bang expressed excitement about decentralizing data sourcing and validation for AI solutions. The collaboration with AirMoney DEGN will allow users to earn crypto for supporting the DePIN economy through data validation. Additionally, Synesis has developed a new Reinforcement Learning with Human Feedback (RLHF) system, offering rewards for verifying data with AirMoney DEGN devices.

Raullen Chai, Co-founder and CEO of IoTeX, believes that DePIN will play a vital role in the proliferation of smart cities. The CEO emphasizes the importance of focusing on 'world-changing technology' for impactful innovation. He also notes that a project's growth is often limited by the scale of the problem it addresses. The promise of smart cities is significant, utilizing technology and data to enhance urban life. Despite challenges like data privacy concerns, the vision of interconnected cities powered by IoT, data analytics, and AI remains futuristic. **DePIN and a Smarter World** Raullen Chai envisions Decentralized Physical Infrastructure Networks (DePIN) as a key to unlocking smart cities' potential. By combining IoT with blockchain, IoTeX aims to empower individuals to control their smart devices' data and value. DePIN fosters decentralized operation of IoT devices, ensuring secure and efficient digital activities for users. Chai believes that this decentralized approach will lead to thriving smart cities, shifting power from big corporations to individual contributors. DePIN not only enhances urban services but also prioritizes data privacy and user control. Chai's proactive stance on managing IoT data challenges reflects a commitment to empowering users while reducing reliance on centralized platforms. As the global IoT market is projected to reach USD 4,062.34 billion by 2032, DePIN's focus on secure data handling and user empowerment is crucial for the future of smart cities. New projects in the tech industry should prioritize 'world-changing technology and infrastructure' to make a lasting impact. Chai's emphasis on empowering individuals through DePIN highlights the shift towards decentralized, user-centric solutions in the evolving landscape of smart cities and IoT.

Blockchain platform XProtocol has introduced the XForge smartphone, touted as the world's first device with a built-in DePIN node. Priced at $299, XForge aims to enhance the gaming experience and seamlessly integrate with the XProtocol decentralized network. The device allows users to act as full-fledged blockchain nodes, with the first 10,000 buyers receiving a Xardian node, offering up to a 20% bonus on node rewards. Additionally, owners are promised 10% of the total token supply and exclusive airdrops from top projects. Validators on XForge will earn rewards in $xKICK tokens, convertible to $KICK. The technical requirements for running Xardian nodes include 4GB of RAM, 2 CPU cores, 60GB of space, an x86/x64 processor, and a stable internet connection. The smartphone will run on Android OS, feature 256GB storage, 12GB RAM, and a Snapdragon 8 Gen 2 processor.

At the recent Token 2049 and Solana Breakpoint conferences, analysts noted the dominance of both AI and DePIN as the most promising use cases for blockchain technology. These conferences delved into the exploration of promising protocols and rising trends within these sectors. Furthermore, the surprise of continued institutional adoption of Solana was a key point of discussion. This unexpected trend showcases the growing interest and trust from traditional financial institutions towards Solana's blockchain ecosystem.

Akash Network to Participate in Messari Mainnet '24 Akash Network, a decentralized cloud platform for hosting web applications and technology solutions, will be participating in the Messari Mainnet '24 event on September 30th. The core team of Akash and the community will be in attendance. The project aims to address issues related to centralized cloud services like Amazon Web Services and Google Cloud. Akash Network stands out for its energy-efficient approach, utilizing a Proof-of-Stake consensus mechanism, which is more environmentally friendly than Proof-of-Work used by other blockchain networks. Akash Network's global marketplace ensures equal access to GPU resources for AI developers and researchers worldwide, regardless of their location. By offering a secure, cost-effective alternative for AI hosting through its GPU marketplace, Akash Network is revolutionizing cloud computing and making a significant impact on the field of artificial intelligence. In this network, cloud hosting resources are shared among participants, allowing them to rent out unused computing resources for hosting applications and services, democratizing access to cloud computing. AKT, the native cryptocurrency token of Akash Network, plays a crucial role in securing the network, executing transactions and contracts, and encouraging community involvement through staking and rewards.

**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.

**Fantom, ImmutableX, Helium: Price Breakout or Pullback Ahead?** With the BTC price stabilizing above the $63,000 level, top cryptocurrencies have regained momentum with major altcoins breaking out of their respective resistance levels. Moreover, mid-cap altcoins have recorded high gains, raising speculations of a potential Altseason. Planning on investing in altcoins but confused about which one to stack? Dive in as, in this article, we have covered the price analysis of Fantom (FTM), ImmutableX (IMX), and Helium (HNT) for the upcoming weeks. **Fantom (FTM)** The FTM price has added 1.43% in the past 24 hours with a trading volume of $166.030 million. Further, it has jumped ~15% over the past week and 30.80% during the past 30 days. Notably, it has rewarded its long-term investors with a YTD return of 27.52%. The Simple Moving Average (SMA) constantly acts as a support to the Fantom price chart in the 1D time frame. Moreover, the RSI indicator is hovering close to its overbought range. This suggests a positive outlook for the altcoin during the upcoming week. Suppose, a bullish reversal occurs, in that case, the FTM price could head toward its upper resistance level of $0.840. On the flip side, if the bears continue gaining momentum, the price could plunge toward its support level of $0.5375. **ImmutableX (IMX)** Despite recording a drop of 2.36% in the past day, the IMX price has jumped 22.36% over the past week. Moreover, it has added ~20% to its valuation over the past month. Notably, with a market capitalization of $2.828 billion, it has secured the 36th position in the market. The MACD indicator shows a constant rise in the green history with its averages showing a bullish rise. On the other hand, the EMA 50/200-day has recorded a bullish curve in the 1D time frame. Further, this highlights a high possibility of a Golden Cross. If the market continues trading under a bullish sentiment, the IMX price could head toward its upper resistance level of $2.470 during the upcoming time. Conversely, a bearish action could pull the price toward its low of $1.464. **Helium (HNT)** With a jump of 8.56% over the past week, the HNT price continues trading within the expanding channel pattern. Notably, the altcoin has been trading in this pattern since July, indicating a long-term bullish sentiment for it in the market. The RSI indicator has recorded a sharp drop toward its neutral point in the 1D time frame. However, the SMA acts as a support. This suggests a mixed sentiment for the Helium coin price in the coming time. If the bulls regain momentum, the Helium price may break out of its resistance level of $8.010 and be headed toward its upper resistance level of $9.510. However, if the bearish sentiment intensifies, this could result in it retesting its low of $6.525.

Altcoin Render (RENDER) has surged 31% over the past week, breaking above a downward trendline. Despite this bullish momentum, market activity suggests a potential consolidation phase as 53% of holders are currently profitable. The balance between sellers and buyers indicates a possible dip before the next move, supported by indicators like social volume and large transactions. **Optimistic Signs for RENDER's Future** Render has experienced a significant increase in social volume, attracting retail players and enhancing overall sentiment. Additionally, large transactions have seen a notable uptick, signaling renewed optimism from institutional players. These positive trends could further support RENDER's recovery and push the current rally. **BTC Dominance Decline Signals Altcoin Season** As Bitcoin dominance decreases, altcoins like Render stand to benefit. Analysts suggest that the declining Bitcoin dominance could usher in an alt season, where alternative tokens see substantial gains. The Altcoin Season Index climbing to 33 and the stablecoin supply ratio's decline both point towards a strengthening momentum for altcoins.