Latest DePIN News

Bittensor's native token, TAO, is currently facing significant challenges as it trades near a critical support level historically associated with price rallies. Recent market analysis indicates that TAO has underperformed across various timeframes, suffering a notable 14.22% drop on a monthly scale. As of the latest trading session, TAO opened with a sharp decline of 5.05%, confirming its ongoing downtrend. The broader market weakness appears to be a key factor contributing to this price slide, leaving TAO vulnerable to further declines. Traders are now closely monitoring the critical support level of $488.4, which has previously acted as a launchpad for price reversals. Should TAO manage to hold this level, a potential rally to $682.2 could be on the horizon. However, failure to maintain this support could lead to deeper declines, with initial downside targets set at $403.4 and a more severe drop to $355.8 if selling pressure escalates. Market sentiment surrounding TAO has shifted decidedly bearish, as indicated by recent analysis from AMBCrypto using Coinglass data. In the past 24 hours, TAO's Exchange NetFlow has turned positive, suggesting that more tokens are being deposited into exchanges than withdrawn. This trend typically signals potential sell-offs, as traders prepare to offload their holdings. At the time of writing, over $3.90 million worth of TAO had been deposited, likely with the intent to sell. Additionally, the market has seen significant long liquidations, with $295.62K worth of long positions closed compared to only $9.59K worth of shorts, reflecting a growing pessimism among market participants. Technical indicators further confirm the bearish outlook for TAO. The Moving Average Convergence Divergence (MACD) has formed a “death cross,” a bearish signal indicating a decline in momentum. This pattern, along with the Bull Bear Power indicator, highlights the dominance of sellers in the market. The increasing red momentum bars on the Bull Bear Power indicator suggest that sellers are currently in control, reinforcing the bearish sentiment. Overall, the combination of negative market sentiment and technical indicators suggests that TAO may continue to face downward pressure in the near future.

The DePIN (Decentralized Physical Infrastructure Network) sector is currently witnessing a significant surge in interest, as evidenced by a recent poll conducted by CoinList. The poll asked users about their preferred project categories, with DePIN emerging as the top choice, highlighting its growing prominence in the blockchain space. In response to this trend, U2U Network, a Layer 1 blockchain focused on DePIN, has announced a collaboration with CoinList to launch an exclusive incentivized mainnet campaign. This initiative marks U2U Network as the first DePIN project to undertake a growth campaign on CoinList in the fourth quarter of 2024. DePIN is recognized as a transformative technology that aims to decentralize critical infrastructure services such as computing, energy, and telecommunications. This approach not only enhances scalability and resilience but also offers cost-efficiency that surpasses traditional centralized systems. With a market capitalization exceeding $33.6 billion, the DePIN sector is attracting substantial investment from venture capitalists, signaling a robust confidence in its potential. According to a 2023 report by Messari, the market potential for DePIN is estimated at $2.2 trillion, with projections suggesting it could rise to $3.5 trillion by 2028. This growth is further underscored by leading DePIN projects securing over $1 billion in funding. The U2U Incentivized Mainnet Saga Campaign, set to run from November 12, 2024, to February 10, 2025, aims to reward participants with $U2U tokens. Users can participate by bridging $USDT to receive $pUSDT, which can be staked in the U2U Incentivized Staking Pool, with a total reward pool of 10,000,000 $U2U tokens available. Beyond this collaboration with CoinList, U2U Network is also planning a campaign with Bitget, further expanding its influence in the DePIN ecosystem. As the anticipated listing approaches, U2U Network is poised to make significant contributions to the blockchain industry, fostering innovation and value for its users and the broader community.

In the ever-evolving world of cryptocurrency, Aptos (APT) has made headlines with a notable 21% surge, bouncing back after a significant drop earlier this month. This resurgence is attributed to the cryptocurrency reaching its Fibonacci retracement level, which has sparked renewed optimism among investors. The increase in active addresses, peaking at 1.27 million in June, further supports this bullish trend. As of now, Aptos is trading at approximately $9.38, with analysts suggesting a potential rise of another 19% to reclaim its October peak. Meanwhile, Bittensor (TAO) has also experienced a remarkable 20% jump in a single day, driven by positive sentiment following recent elections. However, the cryptocurrency faces resistance as indicated by the Ichimoku Cloud, which could pose challenges for further upward movement. The Relative Strength Index (RSI) has surged into the overbought territory, suggesting that while there is strong buying interest, a correction may be imminent if the momentum does not sustain. Traders are closely monitoring TAO's short-term moving averages for signs of a trend reversal that could lead to higher resistance targets. The standout performer in the current market is BlockDAG (BDAG), which has successfully raised over $122 million in its presale, attracting significant attention from investors. With over 15.3 billion coins sold at a price of $0.0234, early participants have already seen returns exceeding 2240%. BlockDAG’s innovative DAG-PoW technology positions it as a strong contender in the Layer-1 blockchain space, aiming for a target of $600 million. As the presale progresses, the urgency for investors to join increases, highlighting BlockDAG as a potential breakout altcoin that could redefine the market landscape.

In October, Solana's real economic value (REV) reached an impressive 111% of Ethereum's, driven by significant growth in decentralized finance (DeFi) and innovative projects such as Hivemapper and Helium. The price of Solana (SOL) surged by 36% recently, hitting $213, but it now faces a crucial challenge at the $221 resistance level. Despite strong network activity and a notable increase in staking, concerns linger about the sustainability of this momentum. The decentralized exchange (DEX) volumes have also seen a remarkable rise, with daily trading exceeding $5 billion for three consecutive days last week, totaling $16 billion from November 10 to 15, primarily driven by Raydium and Orca. Staking activity has emerged as a key factor in bolstering investor confidence, with over $8 billion worth of SOL staked, which helps alleviate selling pressure and enhances price stability. This represents one of Solana's strongest metrics during its current rally. Technical indicators support a positive outlook, as the average directional index (ADX) for SOL stands at 32, indicating a strong trend. However, the inability to breach the $221 barrier could result in a price range between $201 and $221 in the short term, with potential pullbacks signaling a reversal of the bullish trend. Solana's DeFi ecosystem continues to thrive, with meme coin trading contributing to a daily volume of $1 billion, showcasing its growing appeal among retail traders. The network's impact extends beyond DeFi, with projects like Hivemapper mapping a significant portion of global roads and Helium expanding its device network. With robust staking, increasing transaction volumes, and strong technical indicators, Solana is poised for further growth. However, breaking the $221 resistance is critical for unlocking greater potential, with medium-term targets projected between $400 and $500, supported by a bullish cup-and-handle formation on its chart.

The Impact of Upbit Listing Success Rate and UDC Conference Overview Recently, with the market gaining strength, the wealth effect of new listings on Upbit has become more prominent. Tokens like AGLD saw a staggering 150% increase on the first day, while DRIFT surged by 190%. Tokens like SAFE, CARV, and PEPE also experienced a 100% increase. The Formula team made a fortune through news trading, showcasing the potential for wealth creation on Upbit. How can we seize the wealth wave of new listings on Upbit? The UDC conference serves as a barometer for Upbit listings. The listing success rate from 2018 to 2023 stands at 76%. On November 14th, the UDC conference was held as scheduled, offering a glimpse into the participating projects. UDC, organized by Dunamu since 2018, is a representative blockchain conference in South Korea aimed at promoting industry development, ecosystem growth, and adoption. This year's theme, 'Blockchain: Driving Real-World Change,' delves into how blockchain is expanding into various industries and bringing about real-world transformations. According to Layerggofficial data, from 2018 to 2023, approximately 66 projects participated in UDC, with 37 projects already listed on KRW Fair before UDC. Among the remaining 29 projects, 13 were listed in KRW form after UDC (44.8%). The significance of the UDC conference and the wealth effect on Upbit stem from various factors. UDC's Importance and Upbit's Wealth Effect Upbit, as South Korea's largest exchange, holds a leading position in the Korean market in terms of trading volume and user numbers, commanding around 73% of the market share. Korean investors can directly purchase cryptocurrencies using the Korean Won (KRW), leading to significant wealth effects. The convenience of deposits and substantial wealth effects have propelled cryptocurrency trading volume in Korea beyond the country's stock market. This dynamic ensures strong buying interest for new tokens listed on Upbit. The UDC conference, organized by Dunamo, Upbit's parent company, though slightly smaller in terms of timing and participation compared to events like KBW, holds undeniable importance. Projects like ZRO, MNT, and STG, which participated in last year's conference, were listed on Upbit this year, indicating the enduring influence of the conference. Data source: [Layerggofficial](https://x.com/layerggofficial/status/1714145904943587774?s=46) UDC 2024 Conference Projects The UDC conference for this year has already taken place, with projects like Axelar, Taiko, Zetachain, Mantle, and Cyber already listed on Upbit. As of the conference, there are still 11 projects yet to be listed on Upbit or to have KRW trading pairs. Projects awaiting listing include SLP, HNT, GALA, NFT, and ROSE. Projects already listed with BTC pairs but without KRW pairs include MKR, YGG, IOTX, and Cyber. Projects that have not launched tokens but participated in UDC include Linea and Magic Eden. Compliance and AI remain strong narratives in line with this year's UDC theme. Despite Oasis Network not participating in this year's UDC, leveraging AI narratives, ROSE saw a surge on November 5th. Additionally, South Korea's high interest in NFTs and the gaming market suggests that Magic Eden's token has a high probability of being listed on Upbit. Apart from the forward-looking impact of the UDC conference, another South Korean exchange, Bithumb, also has relevance to Upbit listings. Both exchanges tend to list coins in clusters based on narratives, such as introducing AI tokens simultaneously at the beginning of the year or focusing on Memecoins currently. To protect investors, Korean exchanges typically avoid small, new coins with short market history, opting for older coins with stable market capitalization and prices.

On November 12, 2024, the W2140 EXPO, a premier global AI and Web3 conference, was inaugurated in Bangkok. Co-hosted by the Asian Business Association of Thailand and the Thai government, the event attracted participation from over 1,000 organizations and more than 200,000 attendees, marking it as the largest conference of its kind. During the event, members of the Titan Network core team engaged in meaningful discussions with UN staff and Dr. James Ong, a prominent scholar and founder of the Artificial Intelligence International Institute (AIII). Dr. Ong's keynote speech, titled "AI and Web for Humanity from the Global Majority," emphasized the importance of decentralized technologies in the modern landscape. Dr. Ong highlighted Titan Network and its ecosystem partner, Pnuts.AI, as exemplary models within the AIDePIN and AIDeHIN frameworks. He praised Titan for developing a decentralized physical infrastructure network (DePIN) that leverages blockchain to utilize idle resources. This innovation offers a decentralized, secure, and transparent alternative to traditional cloud services, potentially saving up to 96% in costs. Additionally, he commended Pnuts.AI for being the most powerful real-time translation tool available, designed to break down language barriers using AI and Web3 technologies, providing rapid and accurate speech-to-speech translations in over 200 languages. Furthermore, Dr. Ong discussed the future potential of Pnuts.AI as a standout Web3 project, envisioning a seamless integration of AI, Web3, and DeHIN. In this approach, top human language experts will collaborate with AI systems to enhance translation accuracy significantly. These experts will also provide extensive digital training materials to improve translation models, while Web3 mechanisms will incentivize cooperative human-AI efforts, fostering a robust AI-Web3 application ecosystem. This integration promises to revolutionize the way we approach language translation and communication in a globalized world.

The Auki Network has recently announced a significant update regarding its third-party custody solution for its token, $AUKI. Emphasizing their commitment to radical transparency and accountability, Auki Network has opted to migrate its digital assets to a new custody provider. Third-party custodians play a crucial role in the blockchain ecosystem by securely holding and managing digital assets on behalf of clients, ensuring the safety of private keys and enhancing overall security. The choice of custody solution is vital for any blockchain project, as it directly impacts asset management and security protocols. The migration process involves transferring tokens to new wallets under the new custody solution and resetting permissions for various operational routines. The previous custody arrangement had some limitations, including the consolidation of all cold wallet $AUKI tokens in a single wallet, which hindered clear on-chain separation between different pools of unvested tokens. Additionally, the previous custodian's internal token movements could have led to perception issues within the community, as any unlisted $AUKI tokens would be considered circulating supply without prior notice. Auki Network's decision to change custodians addresses these concerns and aligns with their goal of implementing best practices in asset management. The new custody solution involves migrating assets to Hex Trust, a centralized custodian, while smart contract administration roles have been assigned to Safe Wallet, a decentralized custodian. This dual approach not only resolves the issues faced with the previous custodian but also enhances visibility and transparency for the community. The new setup provides comprehensive insurance coverage of USD 50 million for all wallets, significantly improving security. As a result, the community can expect more accurate circulating supply data on platforms like CoinGecko, reinforcing Auki Network's commitment to transparency and accountability in their operations.

The launch of the DRF token represents a pivotal moment for the DRIFE ecosystem, which aims to revolutionize the ride-hailing industry through decentralization. As the first fully transparent decentralized ride-hailing platform, DRIFE introduces the DRF token to empower users, drivers, and riders alike. This initiative not only provides a stake in the platform's future but also fosters active participation among community members. Drivers can enhance their earnings while riders enjoy reduced costs and increased transparency, creating a collaborative environment where all users contribute to the ecosystem's growth. The DRF token also serves as a versatile payment method within the DRIFE platform, allowing users to pay for rides using DRF tokens in select regions. This integration promotes seamless and secure transactions, reducing reliance on traditional currencies. Additionally, DRIFE incentivizes user engagement through a rewards system, where both riders and drivers can earn DRF tokens for their activities. Staking opportunities further enhance the token's appeal, enabling users to grow their holdings passively while supporting the platform's development. Subscription benefits, such as priority booking and discounted fares, add further value for token holders, enriching their overall experience. With a carefully structured token distribution model, DRIFE ensures long-term growth and stability. The allocation of tokens among various stakeholders, including team members and investors, is designed to prevent immediate sell-offs and promote ecosystem health. The introduction of the DRF token not only empowers drivers and riders economically but also fosters a transparent and decentralized ride-hailing experience. As DRIFE continues to expand its offerings, the DRF token will play a crucial role in shaping the future of mobility, establishing a user-driven platform that rewards participation and redefines the ride-hailing landscape.

Challenges and Transformations in the Telecom Industry Driven by the wave of global informatization, the traditional telecom industry faces unprecedented challenges. The industry is grappling with the increasing upfront investment pressure of 5G technology while struggling to transform its revenue model. Revenue from traditional communication services is on a decline due to competitive pressure, leading to lackluster performance in value-added services. Despite generating 50% more revenue than internet giants, the profitability of leading U.S.-listed telecom companies is only 30% of the latter. This disparity reflects investors' lack of confidence in the telecom industry's capital-intensive models with limited growth potential. Limitations of Traditional Telecom Business Models Traditional telecom operators are hindered by outdated business models that rely on long-term contracts and fixed fees for network access. This 'pay-to-use' model is inefficient in the digital age, restricting user flexibility and hindering customer experience. In contrast, internet services offer free access, enabling greater user choice and market penetration. Telecom operators risk being reduced to mere 'pipes' that transmit internet traffic without participating in high-value services. To overcome this challenge, operators must shift towards free access models to enhance network effects and deliver high-value services directly to users. Roam: Revolutionizing Telecom with Decentralization Roam has emerged as a decentralized telecom innovator, disrupting the industry with its free access model and integration of Web3 technology. By achieving significant user growth and deploying nodes without massive marketing investments, Roam has attracted attention from traditional operators. Roam ranks second on depinscan.io, a DePIN data analysis platform.

In a surprising development in the blockchain space, IoTeX's official Twitter account (iotex_io) made a notable announcement on November 14th, acknowledging IOTX as a DePIN meme coin in response to current market conditions. This strategic positioning represents a significant shift in how the project presents itself to the cryptocurrency community. The announcement appears to be capitalizing on the growing trend of meme coins within the DePIN (Decentralized Physical Infrastructure Networks) sector, which has been gaining significant traction in recent months. This move by IoTeX demonstrates the project's adaptability and awareness of market dynamics in the rapidly evolving cryptocurrency landscape. Following the announcement, the IoTeX ecosystem saw immediate market impact, with its ecosystem meme coin DePINs experiencing remarkable growth. The token surged to $0.00007 before settling at $0.000054, marking a substantial 45% increase since its launch. This price movement suggests strong market reception to IoTeX's new positioning strategy and highlights the growing influence of meme coins in the DePIN sector.