Besides Mobile, what other DePIN projects are worth watching?
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Besides Mobile, what other DePIN projects are worth watching?
The current market cap of the DePIN concept market has exceeded $3 billion.
Navigating Web3 tides with focused insightsAuthor: Joyce
Amid the recent surge of $MOBILE reaching new highs, sentiment in the DePIN market has been fully ignited. According to DePINscan data, the current market capitalization of the DePIN sector has surpassed $300 million. Beyond Mobile, BlockBeats has compiled a list of six notable DePIN projects for readers’ reference.
IoTeX (IOTX)
Unlike other DePIN projects, IoTeX—founded in 2017—is positioned as a platform designed for DePIN builders, combining fast and secure blockchain technology with the Internet of Things (IoT) and smart devices. Its off-chain computing protocol, W3bstream, enables IoTeX-based DePIN projects to easily generate logic from smart device data, triggering blockchain operations. Notable IoTeX-powered DePIN projects include Envirobloq, Drop Wireless, and HealthBlocks.
IoTeX currently has a market cap exceeding $450 million. Its native token, IOTX, rose 21.2% over the past 24 hours and is priced at $0.05 at the time of writing.
Hivemapper (HONEY)
Hivemapper is a map-building platform built on Solana. In April 2022, it raised $18 million in funding from investors including Multicoin Capital and Solana’s founders. Users purchase Hivemapper dashcams and earn rewards by collecting and uploading mapping data while driving. Currently, two dashcam models are available, priced at $300 and $649 respectively.
Hivemapper currently has a market cap exceeding $93.21 million. Its token, HONEY, surged 52.6% in the last 24 hours and is trading at $0.28 at the time of writing. Notably, HONEY has appreciated over 15-fold within the past month.
DIMO (DIMO)
DIMO is a decentralized automotive IoT platform where users can earn tokens by purchasing its hardware, then collecting and sharing vehicle data. In 2022, DIMO secured $9 million in funding led by CoinFund. Currently, DIMO has partnered with nine Web2 businesses such as gas stations, repair shops, and auto parts stores, allowing users to spend DIMO tokens for services. According to official figures, DIMO has connected over 28,000 vehicles and accumulated more than 153 million kilometers in total mileage.
DIMO currently has a market cap exceeding $13.1 million. Its token, DIMO, surged 67.6% in the past 24 hours and is priced at $0.66 at the time of writing, reflecting a gain of over 6x in the past month.
Streamr (DATA)
The Streamr Network is a decentralized network designed to collect and publish low-latency real-time data streams from IoT sensors, machines, and other smart devices. In April, Streamr launched The Hub—an entry portal for developers to create and connect real-time data streams. DIMO created one of the first open-data projects on The Hub. Earlier this month, Streamr launched the Streamr 1.0 incentivized testnet.
Streamr currently has a market cap exceeding $40 million. Its token, DATA, surged 84.1% over the past 24 hours and is priced at $0.06 at the time of writing.
WiCrypt (WNT)
WiCrypt Network is a decentralized shared networking service built on Polygon that allows users to earn rewards by sharing their Wi-Fi connections. Founded in 2018, WiCrypt is Africa’s first blockchain-based independent Wi-Fi sharing network. According to its website, WiCrypt operates a robust platform with its own browser and storage servers, with over 1,067 devices running across more than 31 countries and 92 cities worldwide.
WiCrypt currently has a market cap of $840,000. Its token, WNT, rose 44.9% in the past 24 hours and is priced at $0.40 at the time of writing.
XNET (XNET)
XNET is a decentralized quasi-permissioned mobile carrier built on Polygon. The team brings decades of experience in telecommunications, technology, and blockchain. Leveraging CBRS spectrum, XNET focuses on building reliable industrial-grade neutral host networks. Additionally, 40% of all network revenue will be used to buy back and burn $XNET tokens from the open market. On November 30, XNET launched its XR560 Wi-Fi access point, priced at $995.
The XNET token rose 24% in the past 24 hours and is priced at $0.01 at the time of writing.
[Disclaimer] The market involves risks, and investment should be approached with caution. This article does not constitute investment advice. Readers should consider whether any opinions, viewpoints, or conclusions expressed herein are suitable for their particular circumstances. Investment decisions based on this information are made at the user's own risk.
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