1 week ago
Decentralized Physical Infrastructure (DePIN) tokens person experienced a 30% diminution implicit the past six months contempt the assemblage reaching a marketplace capitalization of $20 cardinal successful the past 12 months, according to a study by MV Global.
The downturn comes aft beardown performances during the 4th fourth of 2023 and the archetypal 4th of this year, erstwhile galore projects successful the abstraction achieved caller all-time highs. As of Sept. 1, determination are astir 2,365 progressive DePIN projects successful the industry, based connected DePIN Ninja data.
HNT bucks trend
According to MV Global, DePIN token prices are influenced by a operation of cardinal show indicators, web2 usage case-related factors, and speculative narrative-based demand.
However, the study acknowledged that the narration betwixt these factors and token prices is not ever wide oregon consistent. Nevertheless, it added that DePIN tokens stay a bully allocation for a portfolio contempt the caller corrections owed to their debased correlation with the broader crypto market.
Listed DePIN projects saw an adjacent larger mean terms diminution successful the past 3 months, tanking astir 37% implicit the period. The lone token to subordinate this inclination was Helium’s autochthonal token, HNT, which gained 70% implicit the past month.
The terms leap coincides with Helium’s announcement of advancement connected its roadmap and surpassing 100,000 mobile subscriptions.
Different results for antithetic verticals
The study besides highlighted varying performances crossed DePIN subverticals. Despite showing smaller drawdowns implicit the caller months owed to HNT’s performance, connectivity-oriented projects person underperformed compared to different DePIN categories.
Meanwhile, bandwidth-oriented projects outperformed implicit the six and 12-month period, with AIOZ seeing a singular 3278.6% summation implicit the past year. AIOZ is the autochthonal token for AIOZ Network, a decentralized contented transportation network.
DePIN tokens related to retention and censor, specified arsenic FIL and HONEY, besides showed mediocre performances implicit the past six months, with mean losses of 36.6% and 38.2%, respectively.
Despite the 30% diminution implicit the past six months, the DePIN assemblage inactive fared amended than the crypto marketplace mean show of antagonistic 45.7% for the period, according to Artemis data.
Overall, DePIN tokens person performed amended than 16 retired of 20 crypto sectors implicit the past six period period.
The station DePIN tokens down 30% implicit 6 months contempt reaching $20 cardinal marketplace headdress — MV Global appeared archetypal connected CryptoSlate.
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