Latest DePIN Funding News

The DePin IoTeX blockchain has recently announced its integration with the popular MetaMask wallet, aiming to enhance its decentralized physical infrastructure offerings. This collaboration opens up new opportunities for the over 30 million monthly active users of MetaMask, allowing them to engage more effectively with the IoTeX ecosystem. The integration features a "snap" function that facilitates token transfers to web3 domains, conversion between io and 0x formats, and access to real-time blockchain updates. This development is expected to significantly improve user experience and interoperability within the DePin network. Raullen Chai, CEO of IoTeX, expressed enthusiasm about the partnership, emphasizing that it aligns with their commitment to bridging the IoTeX ecosystem with the broader Web3 community. The integration is designed to streamline access to decentralized physical infrastructures, making it easier for users to send cryptocurrencies and manage their resources. The positive feedback from the IoTeX community reflects a strong interest in these enhancements, which are seen as crucial for the growth and adoption of DePin technologies. Despite the promising advancements in interoperability, the market performance of DePin tokens has been disappointing, with many experiencing significant declines over the past week. While the DePin sector continues to attract attention, the associated tokens have not performed well, with some dropping by as much as 20%. This downturn is attributed to broader market sentiments influenced by external factors, including the upcoming U.S. presidential elections. Nevertheless, the DePin niche remains substantial, valued at over $17.5 billion, and the integration with MetaMask could potentially revitalize interest in the sector as it evolves.

Crust Network has made significant strides in its technical development, recently releasing SManager v2.0.4, which enhances the Crust ecosystem by dynamically adding commonly used gateways to improve data retrieval success rates. Additionally, SWorker v2.0.1 has been launched, updating the IAS Attestation URL due to the expiration of the previous one. The establishment of an XCM channel between Crust, Bifrost, and Moonbeam marks a pivotal integration, while ongoing development aims to port the latest IPFS Kubo code to Crust. Other improvements include optimizations for public gateways and upgrades to collator servers for the Kusama parachain, reflecting a commitment to enhancing the overall infrastructure and user experience. In terms of ecosystem collaboration, Crust Network is actively engaging with various projects to enhance decentralized storage solutions. The partnership with Wentools aims to simplify no-code NFT minting and decentralized storage on the Algorand platform, allowing users to mint NFTs and manage storage seamlessly. Moreover, Crust Network is collaborating with Yoghurt Cloud to optimize IPFS, which is crucial for improving data availability in Web3. The recent exploration of the intersection between AI and crypto by Coinbase Ventures highlights Crust's role in the evolving data landscape, emphasizing the importance of robust storage solutions for AI applications. Community engagement remains a priority for Crust Network, as evidenced by its participation in various forums and discussions. The recent Twitter Space hosted with U2U Network focused on the future of decentralized storage and blockchain infrastructure. Additionally, Crust Network's involvement in the Digital Economy Innovation Forum in Shanghai and the Ton Grants Program Twitter Space showcases its commitment to fostering collaboration and innovation within the blockchain community. These efforts not only enhance Crust's visibility but also contribute to the broader adoption of decentralized technologies.

In the early hours of November 2, the price of Grass (GRASS) cryptocurrency was on the verge of reaching the $2 mark, but a significant 23.34% drop over the past 24 hours has interrupted its impressive week-long rally, bringing the price down to $1.35. This decline raises concerns about the potential for further decreases in GRASS's value. The recent analysis indicates that the bearish sentiment is gaining traction, suggesting that the price may continue to fall from its current level. Grass is a layer-2 Decentralized Physical Infrastructure Networks (DePIN) project built on the Solana blockchain, which launched its native token on October 28. Initially, the altcoin experienced a remarkable surge of 100% within just a few days, aided by an airdrop distribution to users. However, this increase has now diminished to a 67% gain over the past week. The Bull Bear Power (BBP) indicator, which assesses the strength of buyers versus sellers, has fallen into negative territory, indicating that bearish forces are currently dominating the market. Further analysis of the 1-hour chart reveals a double-top pattern, which typically signals a potential trend reversal. This pattern suggests that GRASS may have reached its local peak, with predictions indicating a possible decline to $1.08. However, if bullish traders can maintain support at $1.29, there is a chance for a rebound to $1.63. Investors are advised to stay vigilant and conduct thorough research as market conditions continue to evolve.

Siacoin (SC) has emerged as a notable player in the cryptocurrency market, currently priced at $0.00411670. As the crypto landscape continues to evolve, Siacoin's decentralized cloud storage platform, which leverages blockchain technology, has attracted significant attention. The platform aims to optimize underutilized hard drive capacities globally, making it a compelling option for investors looking for potential growth in their portfolios. Analysts predict that Siacoin could reach a maximum price of $0.00910 in 2024, contingent on successful adoptions and collaborations within the ecosystem. Looking ahead, the price projections for Siacoin suggest a steady upward trajectory. By 2025, the altcoin is expected to enhance its user experience and security, with price estimates ranging from a low of $0.00455 to a high of $0.0118. The projections for subsequent years indicate a continued bullish sentiment, with potential highs of $0.0449 by 2030. This optimistic outlook is supported by the growing demand for secure, decentralized cloud storage solutions, which Siacoin aims to provide. Market analysts have varied predictions for Siacoin's price, with estimates from different firms suggesting potential highs and lows that reflect the volatility of the cryptocurrency market. Despite the challenges posed by market fluctuations and negative sentiment, Siacoin's innovative approach positions it favorably for future growth. Investors considering Siacoin should remain informed about market trends and developments, as the altcoin appears to be on a promising path towards significant appreciation in value over the coming years.

As the Hivemapper Network celebrates its second anniversary, it reflects on a remarkable year of growth and innovation. Launched two years ago, Hivemapper has become the fastest-growing mapping project globally, achieving an impressive 28% coverage of the world's roads—five times faster than Google Street View. Despite facing hardware shortages, the network has outpaced other crowdsourced mapping initiatives, attracting significant interest from major mapmakers and industries such as automotive and logistics. The rising demand has resulted in over 6 million HONEY tokens burned, showcasing the project's increasing utility and adoption. The integration of AI into the mapping process has been another highlight, with Hivemapper's AI Trainer pipeline evolving into a robust data generation and validation system. This initiative has garnered attention from investors, who see the potential for AI Trainers as a standalone service. Marketing efforts have positioned Hivemapper at the forefront of Decentralized Physical Infrastructure (DePIN), with endorsements from notable entities like A16Z and Binance. The liquidity of HONEY tokens has improved significantly, with listings on major exchanges and a remarkable 50-fold increase in market cap since the project's inception, despite the challenges posed by a volatile crypto market. Looking ahead, Hivemapper's roadmap for Year 3 is ambitious. The focus will be on expanding the HONEY economy, increasing map coverage, and enhancing customer engagement. Plans include launching next-generation dashcams, refining tokenomics, and fostering a developer ecosystem through grants and APIs. The network aims to innovate in consumer navigation and fleet intelligence while ensuring transparency and decentralization. As Hivemapper continues to evolve, it remains committed to its vision of a community-driven mapping future, encouraging contributions that will shape the landscape of geospatial services for years to come.

The Solana-based decentralized physical infrastructure network (DePIN) project, Grass, has recently gained significant attention following its GRASS token airdrop on October 28. This governance token has seen an impressive price rally of 125% in just three days, with the current trading price at $1.82. The market capitalization has surged to $450 million, and daily trading volumes have exceeded $400 million, making it one of the trending cryptocurrencies this week. The airdrop was notable for being the largest within the Solana ecosystem, with nearly 1.5 million addresses participating, surpassing the previous record held by the decentralized exchange Jupiter. One of the primary drivers behind the GRASS token's price surge is the anticipation of listings on Tier-1 exchanges. Additionally, the futures open interest for the token has increased by 73% to $90.33 million, while the daily trading volume for GRASS futures has jumped by 146% to $1.30 billion. The project itself is unique, featuring an open internet-scale web crawl that collects and validates data for AI training, rewarding users with GRASS tokens. Andrej Radonjic, CEO of Wynd Labs, emphasized that this project allows users to reclaim ownership of their bandwidth, a shift from traditional extractive models in the industry. The GRASS token rally is supported by various market trends, including a resurgence in Token Generation Events (TGEs) and a shift in investor focus from meme coins to utility tokens. The DePIN sector continues to attract interest, and the evolving tokenomics of GRASS, which includes a 25% initial unlock, has proven effective in boosting momentum. Despite not being listed on Binance, GRASS has achieved nearly $500 million in trading volume, reflecting strong demand. The initial valuation strategy of starting lower has also contributed to community gains and market enthusiasm for the token.

As the U.S. election week approaches, the crypto market braces for potential surprises, often referred to as "black swan" events. Crypto analyst CryptoCapo TG has recently issued a warning on Telegram, suggesting that a rare and unpredictable event could occur just before the elections, potentially resulting in an average price drop of 35% for altcoins. He predicts that large-cap cryptocurrencies such as Ethereum, Binance Coin, and Solana may experience declines between 25% and 35%, while smaller-cap coins could face even steeper drops ranging from 40% to 60%. This anticipated downturn is described by CryptoCapo TG as a "final shakeout," aimed at eliminating less confident investors ahead of a possible altseason, where altcoins typically see significant gains. Ripple executives have also weighed in on the potential for a black swan event. CEO Brad Garlinghouse believes that a sudden, game-changing disruption could impact the entire crypto sector, while co-founder Chris Larsen warns that a liquidity crisis might trigger widespread market ripples. Both executives expect that the next major event will catch the crypto community off guard and lead to unexpected changes. In contrast to the cautious outlook from CryptoCapo TG, analyst Lana Queen sees a silver lining, suggesting that the current bearish sentiment might pave the way for new all-time highs (ATHs). She believes that despite negative views from analysts like Capo and Jim Cramer, the market could be poised for a rally. In light of this uncertain outlook, CryptoCapo TG advises investors to prepare mentally, diversify their portfolios, and consider a HODL strategy for long-term gains. Staying informed about macroeconomic trends and global events is essential, as these factors can significantly influence market sentiment. While there is a tangible risk of a substantial crypto downturn, it may also present an opportunity for investors to refine their strategies in anticipation of an altseason. With the current BTC dominance at 60% and increasing interest from presidential candidates in crypto assets, this year's black swan event could potentially favor altcoins, leading to a pivotal moment in the market's evolution.

In a recent AMA session, the team behind Züs expressed gratitude to participants for their insightful questions. A significant highlight was the announcement of the ZCN Buyback Plan, where the team intends to purchase ZCN from the market corresponding to each Vult or Blimp allocation bought in USD. This initiative aims to enhance the value of ZCN while also incentivizing users to engage with the platform through referrals. The introduction of USD rewards for Vult or Blimp referrals, particularly a 10% reward for Blimp referrals, is expected to further boost user participation and sales. Additionally, the team provided an update on their recent advertising campaign, which, while successful in generating new leads, unfortunately led to a temporary app crash. The ads are currently paused as the team works diligently to resolve the issue and resume their marketing efforts. Excitingly, a new partnership has been secured, although specific details remain under wraps. The team is optimistic about ongoing discussions for more partnerships that could enhance their market presence. Looking ahead, the focus remains on driving sales, forming strategic partnerships, and collaborating with influencers to amplify their reach. The team is also exploring promising funding leads to support their initiatives. Community engagement is encouraged, with a call for influencers to get involved in supporting Blimp sales. As Züs continues to innovate in the AI-ready distributed storage space, the community is eager to see how these strategic moves will unfold in the coming weeks.

The cryptocurrency market concluded the week with a market capitalization of $2.33 trillion, reflecting a slight decline of 0.45%. Trading volumes experienced a significant drop, with a 16.02% decrease in the 24-hour volume, which now stands at $80.78 billion. This downturn suggests a cautious sentiment among traders, as indicated by the Fear & Greed Index, which remained neutral at 57. Bitcoin, however, showed resilience, climbing 3.91% this week and inching closer to its all-time high of 59.01%. In contrast, Ethereum's growth was more modest, rising only 0.65% as traders awaited crucial network scaling updates. Solana faced a decline of 2.91%, mirroring the broader market trends, while XRP maintained a steady performance with minimal price fluctuations. In notable developments, Crypto.com has overtaken Coinbase in trading volume within North America, highlighting its increasing appeal among traders. This shift underscores the intensifying competition among exchanges vying for dominance in the North American market. Additionally, BlockFills has launched a new crypto-to-fiat payment processing service designed for enterprises and FinTech firms, facilitating seamless cryptocurrency transactions and conversions to fiat currency. This innovation aims to meet the growing demand from major organizations seeking efficient payment solutions. Furthermore, Visa has partnered with Coinbase to enable eligible debit card users in the U.S. and Europe to perform real-time cryptocurrency deposits and withdrawals, marking a significant advancement in institutional acceptance of digital currencies. Meanwhile, a recent incident involving Michael Saylor, executive chairman of MicroStrategy, sparked controversy when he tweeted a false statement attributed to Donald Trump regarding Bitcoin. This incident highlights the ongoing challenges of misinformation in the cryptocurrency space. On a positive note, the U.S. government successfully recovered $19.3 million from a recent cyberattack, showcasing improved capabilities in asset recovery and enhancing security confidence within the cryptocurrency industry.

Nansen, a blockchain analytics platform, has released a new report in collaboration with yield infrastructure protocol MetaStreet, highlighting emerging opportunities for Web3 investors. The report focuses on decentralized physical infrastructure networks (DePIN), specifically node financing (NodeFi) and graphics processing unit financing (GPUfi). As artificial intelligence continues to drive demand for computing capacity, these areas are positioned to offer significant returns. The combination of NodeFi and GPUfi could yield between 30% to 200% through productive yield, token emissions, and decentralized finance (DeFi) trading, presenting a compelling alternative to traditional financial investments. The report emphasizes that GPUfi allows investors to earn yields from GPU rentals, while nodes can provide regular token distributions. This innovative approach to financing could transform existing supply bottlenecks into lucrative investment opportunities. Tokenizing nodes and GPUs introduces benefits not typically available in traditional finance, such as lending, yield speculation, and self-repaying loans. However, the report also notes that there is currently limited on-chain liquidity and financing, although some projects, like Aethir's DePIN GPU-as-a-service, are making strides in this area. Despite the potential for high returns, the report warns that setting up NodeFi and GPUfi involves complexities that may deter some investors. The process ranges from straightforward to ill-suited for on-chain implementation, with efficient execution being critical for success. Additionally, challenges such as accurate valuation, accounting, and navigating legal frameworks make these investments more intricate than traditional instruments like treasury bills. As the landscape of DePIN continues to evolve, it is clear that the intersection of AI and blockchain presents a wealth of opportunities for savvy investors.