DePINs have experienced rapid growth and adoption across various sectors in recent years. Messari reported that DePIN projects added over 600,000 new nodes in 2023 alone, spanning compute, wireless, and sensor networks.
According to Messari, the DePIN market cap has surged by over 400% year-over-year, reaching a total of $20 billion. This growth has been fueled by a 296% increase in DePIN fundraising, leading to the emergence of new acronyms like DeGEN, DeGIN, zk-TLS, and AI x DePIN.
The total market cap for DePIN now sits at $20 billion, growing over 400% YoY.
With DePIN fundraising up 296% YoY, new acronyms are here including DeGEN, DeGIN, zk-TLS, and AI x DePIN.
Much has changed and much needs explaining.
It's time for an @MessariCrypto DePIN Update🧵 pic. .com/WGoVH8HeN6
— Dylan Bane (@dylangbane) August 9, 2024