- Decentralized infrastructure projects like RNDR, IOTX, HNT, and THETA are gaining attention.
- Render’s (RNDR) recently rose 2.6%, while IOTX sees a 28.40% drop in daily trading volume.
- Theta Network’s (THETA) ties to industry veterans like Steve Chen and Justin Kan set it apart.
In CryptoBusy’s recent exploration of the burgeoning sector of Decentralized Physical Infrastructure Networks (DePIN), key projects such as Render Network, IoTeX, Helium, and Theta Network are gaining attention for their innovative contributions. This sector, which integrates blockchain technology into physical infrastructure, is witnessing significant activity, as evidenced by recent trading data from platforms like CoinGecko.
Among the notable projects, Render Network, with its native token RNDR, has shown a slight increase in its trading price, now at $3.90, marking a 2.6% rise in the last 24 hours. The project’s market capitalization stands at $1,465,205,430, securing the 53rd position on CoinGecko. However, despite a short-term increase in price, Render has experienced a 3.60% decline over the past week, underperforming against the broader cryptocurrency market and its peers in the Polygon Ecosystem.
IoTeX, another project under the spotlight, currently trades at $0.04142, reflecting a 3.9% fall in the last 24 hours. In addition, the project has seen a significant 28.40% drop in daily trading volume, suggesting a decrease in market activity. The project’s all-time high was $0.2556, with the current price significantly lower, indicating an 83.75% decrease from its peak.
Helium’s HNT token is trading higher at $7.63, showing a notable 10.2% increase in the past day. The project’s market capitalization is valued at $1,101,645,933, ranking it 64th on CoinGecko. This increase in price is accompanied by a 34.30% rise in daily trading volume, indicating growing investor interest.
Theta Network, recognized for its decentralized video streaming technology, has seen its token price increase to $0.9836, a 3.1% rise in the last 24 hours. With a market capitalization of $983,810,639, Theta Network is ranked 71st on CoinGecko. The project is backed by institutional investors and advised by industry luminaries like Steve Chen and Justin Kan.
The DePIN sector is showcasing varied performances among its leading projects, with some experiencing growth in both price and market activity, while others face challenges. These fluctuations highlight the dynamic nature of the cryptocurrency market and the innovative potential of decentralized physical infrastructure networks. As the sector evolves, these projects continue to contribute to the broader blockchain ecosystem, offering novel solutions and applications.
