Latest DePIN Funding News

In a recent podcast episode of DePIN Power, Starpower co-founder Laser engaged in a conversation with Kuleen, the DePIN lead at the Solana Foundation, about the future of energy-focused DePIN projects. Starpower is positioning itself as an open distributed energy network protocol, aiming to connect third-party energy devices and surpass Tesla in device connections within five years. With the mainnet launch expected in the first quarter of next year, Starpower is optimistic about the growth of DePIN in the energy sector, especially as they conduct airdrop activities to build momentum before the launch. Kuleen expressed excitement about the intersection of DePIN and energy, predicting that energy DePIN will emerge as a significant trend in the coming months. He highlighted the need for a transformation in energy infrastructure due to climate change and increasing energy demands. Kuleen's experience at the Solana Foundation, where he collaborates with various teams, has allowed him to witness the potential of DePIN in addressing energy challenges. He noted that the decreasing costs of renewable energy sources, particularly solar, make this an opportune time for innovation in the sector. Both Laser and Kuleen emphasized the importance of community and collaboration within the Solana ecosystem. Kuleen pointed out that the cultural fit, technical advantages, and economic foundation of Solana attract many DePIN projects. As the ecosystem grows, maintaining community interaction and support becomes crucial. With talented founders entering the energy DePIN space, there is optimism that the right conditions are aligning for significant advancements in energy infrastructure, driven by decentralized solutions and innovative technologies.

Digital Currency Group (DCG), under the leadership of Barry Silbert, has officially launched Yuma, a new subsidiary aimed at promoting innovation within the Bittensor decentralized AI network. Yuma's mission is to equip startups and enterprises with the necessary resources to develop, train, and utilize artificial intelligence in a decentralized framework. Central to Bittensor's ecosystem is the $TAO token, which incentivizes participation by rewarding contributors for their computing power and the quality of their work. This model not only encourages efficiency but also fosters collaboration among users, making it a compelling alternative to traditional, centralized AI systems dominated by major tech companies. Yuma is designed to support various AI-driven projects that can earn rewards through the Bittensor network. The company offers two distinct partnership models: an accelerator program tailored for startups and established enterprises, and a subnet incubator that facilitates the creation of new projects from the ground up. Through its early subnet incubator program, Yuma has already formed partnerships with several firms, including Sturdy, Masa, Score, and Infinite Games. Additionally, it has collaborated with Foundry to launch the S&P 500 Oracle subnet, showcasing its commitment to building a robust ecosystem around decentralized AI. As Bittensor co-founder Jacob Steeves noted, the platform was created to provide a competitive alternative to the conventional top-down approach that restricts access to advanced AI capabilities. DCG's involvement with Bittensor dates back to 2021, and its asset management arm, Grayscale, has since introduced a Bittensor Trust and a decentralized AI fund, with Bittensor accounting for 21% of the latter. This strategic investment underscores the growing importance of decentralized networks in the future of artificial intelligence and digital ownership.

Barry Silbert, the CEO of Digital Currency Group (DCG), has expressed his belief that Bittensor could be as transformative as Bitcoin. To support this vision, DCG has launched a new company named Yuma, which will act as an accelerator for startups interested in exploring the Bittensor ecosystem. Bittensor itself is a decentralized network that incentivizes contributions of data and computing power for various AI tasks, ranging from text translation to complex protein structure prediction. Silbert likens Bittensor to the World Wide Web of AI, highlighting its potential to democratize AI technology and reduce the dominance of major tech corporations. Yuma aims to incubate and build businesses that utilize decentralized AI, with plans to support startups and enterprises in launching their own subnets within the Bittensor framework. Silbert will take on the role of CEO at Yuma, which is expected to start with around 25 employees. The company operates under a model similar to Y Combinator, providing resources and support for both accelerator and incubator partnerships. Currently, Yuma has five active subnets, with additional projects in development, showcasing a diverse range of applications including bot detection, time series predictions, and AI research. The interest in decentralized AI is not a recent development for DCG, as they made their first investment in Bittensor back in 2021. With the addition of funds dedicated to AI through Grayscale, DCG is positioning itself at the forefront of this emerging technology. The native cryptocurrency of Bittensor, $TAO, plays a crucial role in incentivizing decentralized workers, whether they are miners providing computing services or validators ensuring quality contributions. As Yuma continues to grow, it aims to foster innovation and collaboration within the Bittensor ecosystem, paving the way for a new era of decentralized AI applications.

Tory Green, with over two decades of experience in entrepreneurship and investment, has recently taken a significant role in the blockchain sector as he leads io.net, a decentralized physical infrastructure network (DePIN). His extensive background includes serving as a venture capitalist at Tiller Partners, where he supported various portfolio companies in executive roles. Green's previous experience as COO and CFO at Hum Capital, along with co-founding The Art of Charm, showcases his diverse skill set and commitment to innovation. His educational background includes a BA in Economics from Stanford University, coupled with athletic experience at the United States Military Academy at West Point, further highlighting his multifaceted approach to leadership. Io.net recently completed a successful Series A funding round, raising $30 million to enhance its decentralized infrastructure capabilities. The platform utilizes a tailored consensus mechanism optimized for distributed infrastructure, enabling efficient participation from diverse nodes without high computational demands. Security is a key focus, employing cryptographic techniques and node verification to protect the network from malicious actions. Additionally, the integration of edge computing significantly boosts performance by processing data closer to its source, thereby reducing latency and improving response times for users and developers alike. Interoperability with other blockchain platforms, such as Solana, is a cornerstone of io.net's strategy, enhancing cross-chain data flow and broadening adoption potential. The network's multi-layered security approach ensures data integrity through device authentication and encryption, while scalability is addressed through horizontal distribution of workloads and sharding techniques. Green envisions a transformative impact on DePINs by integrating AI with decentralized infrastructure, aiming to revolutionize industries like healthcare and finance with improved data security and cost-efficiency. His leadership philosophy, shaped by resilience and a hands-on problem-solving approach, is pivotal in driving io.net's mission forward in the rapidly evolving blockchain landscape.

Decentralized Physical Infrastructure Network (DePIN) io.net is making strides in the decentralized AI (DeAI) sector by expanding its GPU Compute connection services to Zero 1 Labs. This collaboration aims to enhance the development of DeAI by providing Zero 1 with access to high-performance GPU compute power. The partnership is expected to facilitate the training of AI agents for Keymaker, Zero 1's open marketplace, thereby accelerating the overall development of decentralized AI applications. Developers and users on the Zero 1 platform will benefit from demand-based, cost-effective GPU computing, making it easier to utilize tools for building and deploying DeAI applications. Zero 1 operates as a proof of stake-based decentralized AI ecosystem, allowing innovators and developers to create optimized DeAI applications with Fully Homomorphic Encryption (FHE). This ensures secure data governance and privacy at the AI computation level. The partnership with io.net will enhance Zero 1's computing capabilities, particularly for Keymaker, which serves as a multimodal AI marketplace. With over 100 DeAI tools available, the marketplace is designed to facilitate the creation and discoverability of DeAI applications, catering to developers aiming to build effective on-chain AI agents. In addition to GPU compute services, io.net and Zero 1 Labs are committed to fostering innovation through joint initiatives, including hackathons and bounty programs. These community-driven events will allow developers to collaborate and share their experiences, enriching the DeAI ecosystem. The strategic exchange of resources between the two entities will enable projects within Zero 1's ecosystem to access advanced AI expertise and high-performance resources from io.net. Ultimately, this partnership is poised to enhance Zero 1's market share in the DeAI developer landscape while reducing infrastructure costs, thereby accelerating innovation in the decentralized AI space.

The Graph (GRT) has recently experienced a significant price movement, breaking out of a falling wedge pattern and reclaiming the crucial $0.20 psychological mark. Currently trading at $0.2106, the GRT price has shown a 3.48% intraday pullback after a rally that began at $0.1274. This upward momentum is indicative of a broader market trend, suggesting that GRT may be on the verge of a substantial bullish phase. As the price approaches a critical juncture, traders are left wondering whether this retest will lead to a bounce-back rally that could push GRT past the $0.30 mark. The daily chart analysis reveals that GRT's price action has not only surpassed the overhead resistance trendline but has also crossed above the 200-day exponential moving average (EMA), signaling a potential change in trend character. The breakout above the 23.60% Fibonacci level further reinforces the bullish sentiment. Following a notable 13.74% increase, the price action is currently in a retest phase of this Fibonacci level, with expectations of a continuation towards the next resistance at $0.2521, which corresponds to the 38.20% Fibonacci level. Technical indicators support the bullish outlook for GRT. The 50-day EMA is poised to cross above the 100-day EMA, hinting at a possible golden crossover on the daily chart. Additionally, the MACD indicator shows a gradual bullish trend, with positive histograms suggesting sustained upward momentum. If the bullish trend continues, GRT may challenge higher Fibonacci levels at $0.290 and $0.3292 by the end of the month. However, a failed retest could lead to a decline towards $0.18 or lower, emphasizing the importance of monitoring these levels closely.

The recent surge in price volatility among Liquid Staking Tokens (LSTs) indicates a burgeoning interest in active trading and speculative opportunities within the cryptocurrency market. In early 2024, the token $LDO saw a significant price increase, capturing the attention of both traders and investors. In contrast, $ANKR exhibited a consistent upward trend, showcasing the diverse strategies that investors are employing as they navigate the evolving landscape of LSTs. These developments highlight the dynamic market forces that are influencing the performance of individual tokens. Moreover, the Total Market Capitalization of Solana-based Liquid Staking Tokens has reached an impressive all-time high of $7.40 billion, reflecting robust demand for these digital assets. Among the leading tokens in terms of market share, $JitoSOL stands out with a dominant 43%, followed by $mSOL at 16.3%, and $jupSOL at 12.5%. This remarkable growth in Solana's LST ecosystem underscores the increasing adoption of staking solutions that not only enhance capital efficiency but also provide flexibility for investors. By allowing token holders to stake their assets while maintaining liquidity, LSTs present a compelling alternative to traditional staking methods. The success of these tokens not only underscores their utility within the DeFi ecosystem but also emphasizes the broader market dynamics where speculation and strategic investment are pivotal. As the LST sector continues to expand, it is poised to remain a focal point for innovation and investment within the cryptocurrency industry. Investors are encouraged to conduct thorough research before engaging in trading or investment activities, as the landscape remains highly volatile and subject to rapid changes.

Recent developments in the blockchain space are highlighted by the progress of Toncoin (TON) and Shiba Inu (SHIB), alongside the rising presale token Yeti Ouro (YETIO). Toncoin has made significant strides by launching the $TON Teleport $BTC feature, which facilitates trustless Bitcoin transfers to its blockchain using a synthetic token, tgBTC. This innovation aims to enhance the usability of Bitcoin in decentralized finance (DeFi) activities such as trading and yield farming. Currently, Toncoin is trading at $5.51, experiencing a slight daily drop of 0.19%, but maintains a robust market cap of $14.02 billion with a circulating supply of 2.55 billion TON. Despite a decrease in trading volume, technical indicators suggest that the token is poised for consolidation, indicating potential stability ahead. In the Shiba Inu ecosystem, the community's commitment to the SHIB burn initiative has led to the removal of 624 million SHIB tokens from circulation in just one week. This effort aims to increase the token's scarcity and long-term value. SHIB is currently trading at $0.00002531, reflecting a 2.53% increase in the past 24 hours, with a market cap of $14.91 billion. However, technical analysis indicates the formation of a bearish pennant pattern, suggesting possible downside momentum. Despite this, the active engagement from the community and ongoing burning activities may positively influence market dynamics, although the Average Directional Index indicates a low trend. Emerging in the presale charts is Yeti Ouro (YETIO), an Ethereum-based memecoin that has quickly gained traction, raising over $500,000 with more than 40 million tokens sold in just a few weeks. The project is centered around a play-to-earn game, Yeti Go, which utilizes the Unreal Engine for an immersive gaming experience. Early adopters are currently enjoying a 20% discount on purchases until November 25, further fueling investor interest. With its unique blend of blockchain technology and gaming, Yeti Ouro is positioning itself as a formidable competitor in the crypto landscape, alongside established tokens like Toncoin and Shiba Inu.

AKT, the native token of Akash Network, has recently emerged as a significant gainer in the cryptocurrency market, particularly after securing a perpetual listing on Binance Futures. On November 19, the token surged by 35%, reaching a six-month high of $4.66, which elevated its market capitalization to over $1 billion. This remarkable increase has allowed AKT to re-enter the top 100 cryptocurrencies by market cap, currently holding the 99th position. The trading volume for AKT also saw an astronomical rise of 2500% in just one day, exceeding $368.1 million, indicating a robust interest from traders and investors alike. The price increase can be attributed to Binance Futures' announcement of the AKTUSDT Perpetual Contract, which allows traders to leverage their positions up to 75x. This has attracted many traders looking for high-risk, high-reward opportunities. Additionally, rumors surrounding potential changes in U.S. capital gains tax policies, particularly those that could benefit cryptocurrencies issued by U.S. companies, have further fueled interest in AKT. As Akash Network aims to revolutionize cloud computing through decentralized, blockchain-based solutions, the AKT token is expected to play a crucial role in its ecosystem. Despite the excitement within the AKT community, analysts are cautioning about a potential price correction. TraderSteve_, a pseudo-anonymous analyst, highlighted that AKT might encounter selling pressure at the resistance level of $4.732, a threshold it has struggled to surpass in the past. While the current indicators suggest that AKT is overbought, with a Relative Strength Index reading of 76, the long-term outlook remains positive, with speculations that the token could eventually reach as high as $28. However, it is essential for investors to remain vigilant as the market dynamics evolve.

NVIDIA, a leading player in GPU technology, is set to announce its Q3 fiscal year 2024 earnings on November 20. This announcement is highly anticipated within the cryptocurrency market, particularly for AI-focused tokens such as Render (RENDER), Grass (GRASS), and PAAL AI. Render has recently undergone a migration and rebranding from Ethereum to Solana, positioning itself as a prominent AI coin. Currently trading at $7.67, RENDER has shown a 3.75% increase over the past week, indicating growing investor confidence. Analysts suggest that if NVIDIA's earnings exceed expectations, RENDER could potentially rise to $8.83, with a bullish scenario reaching $11.86. However, there are concerns about a possible 'sell the news' effect that could lead to a price drop to $5.47 if enthusiasm diminishes. Grass (GRASS), another AI token, has faced challenges, declining by 24.31% in the last week and currently trading at $2.36. It is positioned within a descending wedge pattern, which typically signals a potential breakout. The support level for GRASS is at $2.30, with resistance levels at $3.29 and $3.91. The token's RSI indicates oversold conditions, but weak trading volume suggests limited buying pressure. A strong performance from NVIDIA could shift sentiment positively for GRASS, while disappointing earnings may exacerbate its downward trend. PAAL AI has experienced a volatile week, currently trading at $0.1878 after a significant recovery of 25.20%. This follows a drastic drop of 70% due to concerns surrounding a proposed merger with the ASI Alliance. The merger announcement led to a rapid sell-off, driven by worries over the token conversion ratio and a lengthy vesting period. Transparency regarding the merger is crucial, as highlighted by industry figures. The performance of NVIDIA's stock could greatly influence PAAL AI's trajectory, with potential for a rally or further decline depending on market demand and investor sentiment.