DePIN Revenue Surpasses $500 Million in 2024

The DePIN sector continues to demonstrate its potential, with revenue in 2024 expected to exceed $500 million, marking a 100-fold increase over the year.

Depin Revenue Surpasses $500 Million In 2024

According to the latest report from Messari, blockchain technology is undergoing a quiet revolution driven by Decentralized Physical Infrastructure Networks (DePIN) projects. The sector’s impressive revenue of over $500 million in 2024 marks a staggering 100x growth compared to 2022.

This explosive growth mirrors the early golden era of DeFi and NFTs, with the number of projects in the DePIN space nearly doubling within a year. DePIN tokens now account for 5% of the total market capitalization of the cryptocurrency industry. Notably, more than 13 million devices worldwide contribute to the daily operations of the DePIN ecosystem. In 2024, 20 DePIN projects surpassed 100,000 active nodes, and 5 projects achieved the milestone of over 1 million nodes.

1

Investment activity in DePIN is also surging, particularly at the seed stage. The private market is seeing greater capital inflows in pre-seed and seed rounds compared to Series A funding. Among the top 22 DePIN tokens, only 4 tokens have declined in value since their launch. Virtuals Protocol has achieved extraordinary success with a growth rate exceeding 30,000% since its token launch. NEURAL and NodeAI also stood out, posting gains of over 2,000%.

2

 

From an infrastructure perspective, Solana and Base have emerged as frontrunners. Solana attracts innovators with its fast transaction processing capabilities, while Base leverages Coinbase’s strong brand and extensive network.

Related: 10 Coins with the Most Impressive Growth in 2024

The momentum in the DePIN sector shows no signs of slowing as we move into 2025. Recently, Sui DePIN, the first DePIN layer on the SUI blockchain, announced an upcoming DEX offering. In December, Chirp launched Kage, the first play-to-earn game on the SUI blockchain. This game uniquely combines Pokémon Go-style gameplay with IoT technology, opening up promising new directions for the industry.

5.0/5

(1 vote)

Latest

Azcnews Breaking Zklend Loses $4.9m In Starknet Exploit

News | Editor Choice | Policy & Regulations

zkLend Loses $4.9M in Starknet Exploit, Offers Hacker 10% Bounty for Return of Funds

Decentralized lending protocol zkLend has fallen victim to a $4.9 million exploit on the Starknet network, marking a resurgence in crypto-related hacks after a decline in January.

Azcnews Breaking Us And Uk Refuse To Sign International Agreement On Ethical Ai

News | AI | Editor Choice

US and UK Refuse to Sign International Agreement on Ethical AI

The US and UK declined to sign an international AI agreement, citing concerns over excessive regulation, while the summit emphasized ethical AI development, innovation, and global cooperation.

Azcnews Breaking Bitcoin’s Price Fluctuation And The Role Of Otc Transactio

News | Bitcoin | Editor Choice

Bitcoin’s Price Fluctuation and the Role of OTC Transactions

Bitcoin briefly dropped to $94,900 last night before recovering slightly. While market sentiment and institutional strategies often dominate discussions on Bitcoin’s volatility, the impact of over-the-counter (OTC) transactions remains an overlooked but crucial factor.

Azcnews Breaking Bnb Chain’s Four.meme Suffers $183k Exploit In Security Breach

News | Editor Choice | Memecoin

BNB Chain’s Four.Meme Suffers $183K Exploit in Security Breach

The memecoin launch platform has temporarily suspended the creation of new liquidity pools as it works to resolve a recent exploit.

Azcnews Breaking Litecoin Etf Has A 90% Chance Of Sec Approval

News | Altcoin | Editor Choice | Policy & Regulations

Litecoin ETF Has a 90% Chance of SEC Approval

Bloomberg ETF analysts suggest that Litecoin's regulatory filings have been acknowledged, indicating that the SEC likely classifies it as a commodity.