Summary
- The report stated that the DePIN market is expected to grow 100 to 1000 times over the next decade.
- Currently, there are over 350 token projects in the DePIN category, with a market capitalization of approximately $50 billion.
- Globally, over 13 million devices are interacting with DePIN, and some local governments are adopting it.
Analyst Dylan Bane from the global cryptocurrency data analysis firm Messari and Salvador Gala, co-founder of the cryptocurrency investment firm EV3, jointly published the '2024 Decentralized Physical Infrastructure Network (DePIN) Status' report. They diagnosed that "the DePIN market size will grow 100 to 1000 times over the next decade by taking market share from centralized companies' services."
The report stated, "In 2024, there are over 350 token projects in the DePIN category, with a market capitalization of approximately $50 billion." It explained that "the 'on-chain competition' in the DePIN industry is intensifying, with over 13 million devices worldwide interacting with DePIN. Some local governments are also adopting DePIN."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
