The DePIN track is booming, and these 12 projects are worth your attention

In the crypto market of 2025, if you haven’t been paying attention to DePIN (Decentralized Physical Infrastructure Networks), you’re really falling behind. This field is growing at a visibly rapid pace, from energy networks to AI computing, wireless communications to data storage, DePIN is reshaping the entire Web3 ecosystem depin sector map.

Why DePIN is Worth Watching

DePIN essentially combines real-world physical infrastructure with blockchain technology, incentivized by tokens to allow ordinary people to participate. By the end of 2024, the total market cap of the DePIN industry has exceeded $32 billion, a 28% increase from last year. Importantly, market forecasts suggest this track could reach $3.5 trillion by 2028—what does that mean? Nearly tens of times the current size, representing enormous growth potential.

Why is it growing so fast? Because DePIN addresses the pain points of traditional infrastructure: high costs, centralized control, and low efficiency. Through decentralization, node operators share resources and earn rewards, while users benefit from cheaper, more efficient services. This is a true win-win.

Core Advantages of DePIN

Security and Resilience - Decentralized systems rely on blockchain verification, eliminating single points of failure. Traditional infrastructure risks system paralysis if a central node fails; DePIN avoids this problem.

Scalability - Multiple nodes collaborate to handle tasks, theoretically allowing unlimited expansion. Projects like Filecoin and Arweave have already demonstrated the feasibility of this model.

Cost Optimization - Participation requires no large initial investment; development is driven by token incentives, a good news for developers and investors alike.

Innovation - DePIN projects are often at the forefront of technology, involving AI, 5G, quantum computing, and more.

In-Depth Scan of 12 DePIN Projects

1. Internet Computer (ICP) - Decentralized Computing Platform

ICP positions itself as “The Internet Computer,” with ambitious goals: enabling blockchain to run directly on the internet. Upgrades launched in 2024, such as Tokamak, Beryllium, and Stellarator, significantly improved network performance.

Current Data (as of December 2025):

• Price: $3.03
• 1-year change: -72.85%
• Market Cap: $1.66B

Market sentiment is somewhat cold right now, but ICP’s technical roadmap is clear—continue integrating AI capabilities and expanding interoperability with public chains like Solana. These are long-term positives.

2. Bittensor (TAO) - Peer-to-Peer AI Network Market

TAO is doing something unique: training AI models on decentralized networks. Participants contribute computing power for machine learning, earning TAO rewards based on the value of their contributions. Simply put, democratizing AI.

Current Data:

• Price: $223.40
• 1-year change: -55.31%
• Market Cap: $2.14B

Though the price has pulled back, TAO represents a true fusion of AI and DePIN. As AI application demand explodes, this track’s long-term potential should not be underestimated.

3. Render Network (RENDER) - GPU Rendering Network

RENDER connects creators with rendering needs to providers with idle GPUs. From 3D animation to VR, video editing to AI inference, all can benefit. In 2024, migrated from Ethereum to Solana, improving transaction speed and reducing costs.

Current Data:

• Price: $1.28
• 1-year change: -82.98%

The decline looks steep, but that also indicates market adjustment. Long-term, GPU computing power remains in high demand, especially under the AI wave.

4. Filecoin (FIL) - Decentralized Storage Powerhouse

FIL created a peer-to-peer storage marketplace where providers and demanders can trade directly. The 2024 launch of Filecoin Virtual Machine (FVM) opened new use cases, with TVL surpassing $200 million.

Current Data:

• Price: $1.25
• Market Cap: $908.45M

FIL is one of the most mature projects in the DePIN space, with the broadest real-world application. Despite price fluctuations, user activity and trading volume continue to grow.

5. The Graph (GRT) - The Google of Blockchain Data

GRT is the infrastructure for Web3 data queries. Developers use GRT to create and query data APIs (called subgraphs), greatly improving DApp development efficiency. It now supports Ethereum, NEAR, Arbitrum, and 6 other public chains.

Current Data:

• Price: $0.04
• 1-year change: -83.50%
• Market Cap: $391.87M

Though the price is very low, GRT is fundamental infrastructure for the entire DeFi ecosystem, with strong irreplaceability. Such projects often benefit from black swan events.

6. Theta Network (THETA) - The Future of Video Streaming

THETA uses blockchain + P2P bandwidth sharing to optimize video streaming. The EdgeCloud launched in 2024 further combines cloud and edge computing, providing compute grids for video, media, and AI applications.

Current Data:

• Price: $0.27
• 1-year change: -88.72%
• Market Cap: $266.80M

Despite the large drop, Theta addresses real streaming cost issues. As video content explodes, this demand will only grow.

7. Arweave (AR) - Permanent Data Storage

AR’s idea is romantic: creating a “permanent network” via blockchain. Using “block wave” structure and SPoRA consensus, it incentivizes miners to preserve historical data. The 2.8 protocol upgrade in 2024 further improved efficiency.

Current Data:

• Recent Price: around $19
• 1-year change: over 171%
• Market Cap: $12.4B

AR remains one of the few DePIN projects still showing growth, indicating persistent market demand for permanent storage.

8. JasmyCoin (JASMY) - IoT Data Sovereignty

Founded by former Sony executives, JASMY connects IoT devices with decentralized protocols, giving users full control over their data. It’s a rare privacy + data ownership project in Web3.

Market Performance:

• Reached a market cap of $1.35 billion mid-year
• Over the past year, surged over 366%

JASMY’s growth is driven by strategic partnerships (rumored collaborations with NVIDIA, Ripple, etc.), showing major players are paying attention to IoT×DePIN opportunities.

9. Helium (HNT) - Decentralized Wireless Network

HNT enables individuals to deploy hotspots, providing wireless coverage for IoT devices and earning rewards. Now integrated into the Solana ecosystem, with IOT and MOBILE sub-network tokens.

Current Data:

• Price: $1.51
• 1-year change: -79.59%
• Market Cap: $280.79M

HNT network has over 335,000 Helium Mobile users, proving real market demand. Although prices are suppressed, the user base is growing.

10. Grass Network (GRASS) - Data Collection Protocol

GRASS’s idea is simple: users contribute idle bandwidth, and the network uses this data to train AI models, rewarding users passively. During the October 2024 airdrop, nearly 1.5 million wallets received tokens.

Current Data:

• Price: $0.30
• 1-year change: -87.53%
• Market Cap: $130.36M

While the price has softened, the large user base (over 2 million during beta) shows this model is attractive. The scarcity of AI data will support this track long-term.

11. IoTeX (IOTX) - IoT and DePIN’s Native Chain

IOTX built a dedicated blockchain optimized for IoT and DePIN, using Roll-DPoS consensus for low latency and high throughput. In 2024, IoTeX 2.0 launched, introducing DePIN Infrastructure Modules (DIMs).

Current Data:

• Price: $0.01
• 1-year change: -81.45%
• Market Cap: $68.39M

The ecosystem already hosts over 230 DApps, including more than 50 DePIN projects. IoTeX is becoming a dedicated infrastructure for DePIN.

12. ShieldEum (SDM) - Web3 Security Infrastructure

SDM uses AI-driven DePIN to provide security for Web3, including application hosting, data encryption, and threat detection. Launched on mainstream platforms in 2024, with $2 million USDT raised for node testing.

Future Plans: Develop a custom BNB Layer-2 blockchain dedicated to node execution.

Challenges Facing the DePIN Sector

Don’t just see the opportunities—challenges are very real:

Technical Complexity - Integrating blockchain with physical infrastructure is complex, requiring solutions for security, scalability, and interoperability.

Regulatory Uncertainty - DePIN involves digital and physical assets; regulatory frameworks are still evolving, with significant differences across countries.

Market Adoption - To truly replace traditional infrastructure, DePIN must demonstrate clear advantages in cost, efficiency, and user experience. This takes time.

DePIN Outlook for 2025

The market is already watching for growth. From the perspective of the DePIN sector map, hot spots in 2025 should include:

1. AI×DePIN Fusion - Computing networks will be key, with projects like Bittensor and Render continuing to attract attention
2. Energy and 5G - The most urgent real-world needs, with large capital inflows
3. Cross-Chain Interoperability - Projects are seeking multi-chain deployment to enhance liquidity and use cases
4. Regulatory-Friendly Projects - Those that can navigate compliance will attract institutional capital

Summary

DePIN is not a bubble; it’s driven by real demand. From storage to computing, energy to communications, every field is being rethought. Although prices are generally down now, this could be a good accumulation opportunity.

The key is choosing the right tracks and projects. Infrastructure projects tend to have long cycles, but once scaled, returns can be substantial. Want to participate in DePIN’s dividends? Start by researching these 12 projects’ fundamentals, align with your risk appetite, and develop your investment strategy.

The DePIN revolution has begun—are you ready to seize this wave?