DePIN in 2024-25: The Projects Reshaping Crypto Infrastructure

The Decentralized Physical Infrastructure Network (DePIN) sector surpassed the $32 billion in combined market capitalization in November 2024, establishing itself as one of the most dynamic segments of the crypto market. This growth reflects increasing investor confidence and accelerated adoption of solutions that connect the digital world to the physical through blockchain technology.

What Makes DePIN So Special?

Unlike traditional centralized infrastructures, DePIN networks operate through tokenized incentives that reward participants for contributing physical resources. Whether sharing bandwidth, storage capacity, computing power, or specialized equipment, these participants earn tokens that can be traded or reinvested in the ecosystem.

This approach creates a multiplier effect: the more people participate, the more robust and efficient the network becomes. And unlike infrastructures controlled by large corporations, there is no single point of failure. Decentralization ensures resilience, security, and democratic access.

The Most Promising DePIN Projects

Internet Computer (ICP): The Global Computer

Internet Computer positions itself as a truly decentralized alternative to traditional cloud services. Instead of concentrating data in a few data centers, the ICP network distributes computation across a global network of independent machines.

Updated Data:

• Current price: $2.99
• 1-year change: -73.22%
• Market capitalization: $1.63B

After implementing significant updates in 2024 (Tokamak, Berílio, and Stellarator), the platform improved its scalability. For 2025, the roadmap includes deep integration with AI and interoperability with Solana, positioning ICP as critical infrastructure for decentralized applications.

Bittensor (TAO): Decentralized AI in Action

Bittensor created something unique: a peer-to-peer marketplace where machine learning models collaborate and compete. Participants are rewarded with TAO based on the intelligence value they contribute.

Market Performance:

• Market cap over $3.8B in November 2024
• Cumulative gain: 152% in the last year
• Technologies: Proof of Intelligence, Decentralized Mixture of Experts

The protocol continues refining in 2025, opening new applications across various sectors and establishing Bittensor as an undisputed leader in decentralized AI.

Render Network (RENDER): Distributed GPU for Creators

Render solved a real problem: 3D content creators, animation, and virtual reality need massive computational power. Render connects these creators with owners of idle GPUs, creating an efficient marketplace.

Updated Data:

• Price: $1.26
• 1-year decline: -83.25%
• Market cap: $654.97M

The transition from Ethereum to Solana in 2024 (token renamed from RNDR to RENDER) improved scalability. Continued expansion in cinema, gaming, and VR development is expected in 2025.

Filecoin (FIL): Decentralized Storage

Filecoin offers an open marketplace where storage providers and users transact directly. The launch of the Filecoin Virtual Machine (FVM) in 2024 opened new use cases, pushing TVL above $200 million.

Current Situation:

• Price: $1.23
• 24h high: $1.28
• Market cap: $898.97M

In 2025, the focus is on enhancing FVM programmability, enabling Ethereum-compatible smart contracts, and encouraging native application development.

The Graph (GRT): Blockchain Data Indexing

The Graph simplifies access to blockchain data through decentralized APIs. Its network supports multiple blockchains: Ethereum, NEAR, Arbitrum, Optimism, Polygon, Avalanche, and others.

Market Data:

• Price: $0.04
• 1-year change: -83.77%
• Market cap: $385.80M

The 2025 roadmap includes expanding into a rich data services marketplace, empowering developers, and performance optimizations for indexers.

Theta Network (THETA): Decentralized Streaming

Theta enables users to share their bandwidth to improve streaming quality and reduce costs. The launch of EdgeCloud in 2024 created a global computational grid powered by the community.

Market:

• Price: $0.26
• 1-year decline: -89.02%
• Market cap: $259.40M

Phase 3 of EdgeCloud in 2025 will bring an open marketplace connecting clients with edge nodes operated by community members.

Arweave (AR): Permanent Storage

Arweave creates a permanent, decentralized archive. Its Proof of Random Access Sucinto (SPoRA) mechanism ensures historical data is preserved indefinitely.

Updated Data:

• Price: $3.43
• Market cap: $224.31M
• 1-year decline: -80.04%

Protocol update 2.8 in November 2024 improved efficiency and scalability. The project plans to expand integrations with dApps in 2025.

JasmyCoin (JASMY): IoT + Data Sovereignty

Founded by former Sony executives, Jasmy integrates blockchain with the Internet of Things to give users full control over their personal data. Growth in 2024 was driven by strategic partnerships and market recognition.

The 2025 strategy involves alliances with leaders in IoT devices and practical demonstrations of the benefits of decentralized data utilization.

Helium (HNT): Decentralized Wireless Network

Helium allows anyone to deploy Hotspots and earn HNT by providing network coverage. Operating on Solana, the network now supports 5G and offers incentives through sub-network tokens like IOT and MOBILE.

Updated Data:

• Price: $1.49
• 1-year decline: -79.91%
• Market cap: $276.69M

The focus in 2025 is to improve the Proof-of-Coverage mechanism and expand global coverage.

Grass Network (GRASS): Bandwidth Monetization

Grass enables monetization of idle internet bandwidth while contributing to AI model training. With 2 million users in beta and a 100 million token airdrop in October 2024, the project gained massive traction.

Updated Data:

• Price: $0.30
• 1-year decline: -87.55%
• Market cap: $130.19M

The roadmap includes staking mechanisms and governance to empower the community in 2025.

IoTeX (IOTX): Native IoT Infrastructure

IoTeX provides an optimized blockchain layer for machine-to-machine communication using Roll-DPoS. The ecosystem has expanded to 230 dApps with over 50 DePIN projects integrated.

Updated Data:

• Price: $0.01
• 1-year decline: -81.58%
• Market cap: $67.82M

The 2025 vision is to integrate 100 million devices and unlock trillions in real-world value on-chain.

The Real Challenges of DePIN

The growth of the DePIN sector is not automatic. There are substantial obstacles: the technical complexity of integrating blockchain with physical infrastructure, the fragmented and multi-jurisdictional regulatory landscape, and the need to demonstrate clear advantages over established centralized systems.

Overcoming these requires careful navigation, but the opportunities justify the effort.

Outlook: From $32B To Trillions

Analysts project that the DePIN market could reach $3.5 trillion by 2028. This growth will be driven by increasing demand for high-quality streaming solutions, content delivery, and decentralized storage.

The migration from centralized to decentralized networks is just beginning. What seems expensive and complex today may become the norm tomorrow.

Conclusion

DePIN offers more than a speculative investment opportunity. It represents a fundamental shift in how digital infrastructure is built, owned, and operated. For traders and investors following the crypto space, these projects deserve serious attention in 2024-25 and beyond.