Helium

Decentralized Physical Infrastructure Networks (DePINs) are rapidly emerging as a pivotal narrative in the cryptocurrency landscape. These networks encompass a variety of applications, including decentralized cloud storage, wireless networks, and peer-to-peer energy grids. The potential of DePINs extends beyond mere technological innovation; they promise to reshape daily life by enhancing the sharing economy, improving supply chain management, and fostering sustainable energy solutions. Despite their significance, awareness of DePINs remains limited within the crypto community, making it essential to highlight their transformative capabilities as we enter a new bull market. At its core, DePIN refers to a decentralized approach to building and managing physical infrastructure, akin to Amazon Web Services (AWS) but without centralized control. By leveraging crowdsourced resources, DePIN projects can significantly reduce the costs associated with establishing extensive physical infrastructure. For instance, decentralized cloud storage solutions like Filecoin and Storj allow users to contribute their unused storage space in exchange for rewards, while projects like Helium incentivize individuals to share their internet bandwidth. This innovative model not only democratizes access to essential services but also fosters a more resilient and localized infrastructure. Despite the promise of DePIN technology, several challenges must be addressed to ensure its successful implementation. Key hurdles include ensuring robust cybersecurity measures, achieving scalability, and navigating regulatory landscapes. However, exciting developments are on the horizon, such as advancements in security protocols and integration with the Internet of Things (IoT). As DePINs continue to evolve, they hold the potential to revolutionize how we interact with our physical environment, paving the way for a more efficient and user-centric infrastructure in the future.

XNET, a project based on the Solana blockchain, has recently announced a strategic partnership with AT&T, a major player in the US telecommunications industry. This collaboration aims to enhance the efficiency of mobile data traffic management by allowing AT&T to offload some of its mobile data onto XNET's decentralized network of Wi-Fi hotspots. XNET incentivizes businesses and public spaces to deploy these hotspots by rewarding them with XNET tokens, effectively creating a distributed wireless network that alleviates congestion and improves overall coverage. As part of this agreement, which has been operational since September 2024, AT&T customers can seamlessly connect to XNET's Wi-Fi network, with AT&T compensating XNET for the data usage in dollars, which is then distributed to XNET's node operators in the form of tokens. Currently, XNET boasts 688 active nodes and has facilitated connections for approximately 9 million users through its network. The co-founder of XNET, Richard DeVaul, emphasized the importance of their token in financing the network's infrastructure, stating that traditional equity or debt financing would have posed significant challenges. He described XNET as a prime example of Decentralized Physical Infrastructure Networks (DePIN), showcasing how the project has successfully utilized its token to bootstrap operations and equipment financing. This innovative approach positions XNET as a unique player in the decentralized network space, distinguishing itself from competitors like Helium Mobile, which focuses on individual hotspot installations. While both XNET and Helium Mobile operate in the decentralized network sector, XNET's business model is strictly B2B, targeting high-value locations for hotspot deployment. DeVaul noted that they view Helium as a potential customer rather than a competitor, indicating a collaborative spirit within the industry. As the demand for decentralized networks continues to grow, partnerships like that of XNET and AT&T may pave the way for more efficient and widespread internet access, ultimately benefiting users and businesses alike.

A recent report titled "The DePIN Token Economics Report" by Tom Trowbridge has shed light on the growing interest of traditional equity investors in Decentralized Physical Infrastructure Networks (DePIN). The report highlights how DePIN is revolutionizing real-world services such as Wi-Fi, energy, and computing. With over 1,000 projects and 3 million providers, DePIN has shown significant revenue traction, with hardware costs plummeting by 95% in recent years. Notably, Helium reported $350,000 in revenue for Q4 2024, while Geodnet achieved an annualized revenue of $3 million, showcasing the financial viability of these decentralized networks. Traditional equity investors, who have historically been skeptical of token projects, are now recognizing DePIN as a promising investment avenue. The report indicates that this investor demographic is significantly larger than that of alt-coin investors, primarily due to DePIN's tangible services and impressive revenue metrics. The buy-and-burn mechanisms employed by various DePIN projects, such as Geodnet and Hivemapper, further enhance the appeal by linking revenue directly to token value. This financial model provides a clearer benchmark for investors, as evidenced by Geodnet's $500,000 revenue in Q4 2024, which supports price growth in its tokens. Moreover, Trowbridge emphasizes the importance of simplicity in DePIN's token economics, suggesting that models should be straightforward to avoid confusion among investors. The report also highlights the necessity for transparency in the sector, especially in light of Helium's recent SEC charge for misleading investors. As DePIN continues to shift the narrative of cryptocurrency from speculation to utility, Trowbridge asserts that projects offering real-world services are scaling more rapidly and providing superior services at lower prices compared to their centralized counterparts. This shift could redefine the landscape of crypto investments, making DePIN a focal point for future growth in the industry.

Decentralized Physical Infrastructure (DePIN) is rapidly emerging as a significant trend in the cryptocurrency landscape, particularly as we look towards 2025. By merging blockchain technology with tangible infrastructure, DePIN projects are providing distinct advantages for both consumers and producers, thus attracting the attention of innovators and investors. This article highlights the top 10 DePIN coins to monitor in 2025, which are distinguished by their robust market capitalizations and promising price trajectories, making them key players in this evolving sector. Among the top contenders is Helium (HNT), which has garnered considerable interest from traders and long-term holders. Recent technical analysis indicates that HNT has formed a bullish harami candlestick pattern on the 200 Exponential Moving Average (EMA), suggesting a potential price surge of 30% towards $8.5. Similarly, Filecoin (FIL) is showing signs of recovery after a significant decline, with analysts predicting a possible rally of 65% if it maintains support above $4.90. Theta Network (THETA) and Internet Computer (ICP) are also positioned for potential upside, with THETA needing to break above $2.45 for a 36% increase, while ICP could see a 55% rise if it stays above $9.5. Other notable mentions include IOTA, which has recently experienced a price correction but may rebound if it holds above $0.28, and Render (RENDER), which is poised for a breakout above $7.22. Additionally, Arweave (AR), Akash Network (AKT), AIOZ Network (AIOZ), and Hivemapper (HONEY) are all showing signs of potential growth, with analysts optimistic about their future price movements. As we approach 2025, these DePIN coins present substantial growth opportunities, particularly if favorable market conditions prevail, potentially delivering notable returns for investors.

In the fourth quarter, Helium's native token, HNT, experienced a significant decline, with its circulating market capitalization dropping from $1.3 billion to $1.0 billion, marking a 20% quarter-over-quarter decrease. The token's price also fell by 22%, decreasing from $7.54 to $5.88. Despite this downturn in the market, the Helium network continued to expand, particularly in the area of hotspot adoption. According to a report from Messari, Helium Mobile's number of hotspots grew by 14% QoQ, reaching 24,800 from 21,800. The service's unlimited plans remain competitively priced compared to traditional telecom providers in the US, and the introduction of the Discovery Mapping feature has incentivized users to share location data, although rewards have recently shifted from HNT to Cloud Points. During the recent Hurricane Helene in North Carolina, Helium Mobile showcased its utility by maintaining operational hotspots that provided 5G coverage while many were left without electricity or water. The team also took proactive measures by distributing emergency kits, including Starlink devices, to assist affected communities. In addition to Helium Mobile, the IoT network also saw a 20% increase in hotspots during Q4, with a total of over 375,000 hotspots onboarded since migrating to Solana in early 2023. However, despite rapid infrastructure growth, demand has not yet caught up, as evidenced by low daily data credits (DC) usage. Helium has faced controversies in the past, including allegations that its founders hoarded a significant portion of early token rewards, with insiders reportedly mining millions of HNT tokens worth $250 million at their peak. Additionally, Helium faced criticism for overstating partnerships, such as with Lime, the rideshare company, which clarified that their relationship was limited to a 2019 test. Similar issues arose with Salesforce, which denied any partnership, leading Helium to remove their logos from promotional materials. These controversies have raised questions about the company's transparency and the sustainability of its growth strategies.

In February, the decentralized physical infrastructure network (DePIN) associated with Solana [SOL] experienced a notable rebound, driven by significant user growth in key projects such as Helium and Hivemapper. Helium Mobile reported a remarkable ninefold increase in users, reaching 145,000, marking its highest growth in a year. Hivemapper, a community-driven alternative to Google Maps, also saw its demand triple due to the introduction of new mapping devices. Collectively, these projects maintained steady revenues of approximately $350,000, indicating a stabilization in the DePIN sector for 2025. The resurgence of DePIN could potentially serve as a catalyst for SOL's value, especially following a significant decline in meme-coin activity that adversely affected Solana's decentralized exchange (DEX) volumes. In January, during the peak of DEX activity, SOL reached a record high of $295, largely fueled by the excitement surrounding the TRUMP memecoin. However, a subsequent 60% drop in DEX volumes led to a decline in SOL's value, which has since stabilized above the $120 support level. The question remains whether DePIN can fill the void left by meme coins and bolster SOL's value moving forward. Despite the resurgence of DePIN, the overall network activity within the Solana ecosystem remains heavily influenced by meme coins. Active addresses surged to 5.7 million during the TRUMP meme-coin craze in mid-January but saw a decline throughout February. Although there was a slight increase in active addresses to 4.4 million, this was followed by a drop to 2.7 million by the end of the month. By mid-March, the number of active addresses stabilized at 3.11 million, reflecting a 45% decrease from January's peak. As of now, SOL is valued at $130, maintaining its position above the critical 2024 support zone, leaving uncertainty about whether it can avoid further corrections.