What is DePIN Cryptocurrency? The Complete Guide to Top Blockchain Projects to Know by 2026

The “DePIN Crypto” sector, which merges blockchain technology with real-world infrastructure, is rapidly gaining attention in the crypto industry. Decentralized Physical Infrastructure Networks, commonly known as DePIN, have the potential to fundamentally transform traditional centralized service provision models and are emerging as foundational structures for Web3. As of November 2024, the market size exceeded $32 billion, and following market fluctuations, it is moving into a new phase by 2026.

Understanding the Basics of Decentralized Physical Infrastructure Networks (DePIN Crypto)

Decentralized Physical Infrastructure Networks (DePIN) are not merely applications of blockchain but innovative approaches bridging real-world infrastructure such as energy grids, wireless networks, and decentralized data storage with cryptographic technology. The core concept centers on “tokenized incentives.” Individual participants contributing to physical networks receive direct rewards in digital tokens, enabling a democratic and transparent infrastructure structure.

DePIN projects are redefining not only technological innovation but also the very distribution of economic value. Instead of large-scale centralized management by corporations, network participants directly engage in value creation and share in the rewards. This democratized approach makes it possible to build more inclusive and resilient infrastructure.

Rapid Market Expansion of DePIN from 2024 to 2026

Leading investment management firms in the crypto industry highly value the growth potential of the DePIN crypto market. Major players like VanEck emphasize that DePIN could be key to onboarding the next billion users into Web3, increasing its strategic importance. Meanwhile, the innovative fund “DePIN Fund III” raised $100 million in September 2024, indicating venture capital confidence in this sector’s future.

Between November 2024 and February 2026, the market performance of DePIN crypto projects experienced significant volatility. Some projects declined from expectations, reflecting the industry’s maturation process and a trend toward selecting more robust, practical projects. Beyond overall crypto market fluctuations, the value of projects with real use cases in DePIN is gradually gaining recognition.

Structural Strengths Brought by Hardware Decentralization

In the DePIN ecosystem, hardware decentralization is more than a technical feature; it is fundamental to system reliability. Deploying network components such as antennas, hotspots, and data servers across geographically dispersed participants creates systems that do not rely on centralized management.

For example, Helium Network demonstrates the potential of decentralized wireless infrastructure. Its Helium Mobile service has attracted over 335,000 users, proving that a decentralized infrastructure can scale quickly while rewarding individual contributors. Similarly, Meson Network has deployed over 59,000 nodes worldwide, building a decentralized marketplace utilizing unused bandwidth—an innovative model enabled by hardware decentralization.

How Blockchain Enables Next-Generation Infrastructure: The DePIN Mechanism

DePIN projects operate through the complementary integration of physical infrastructure and blockchain technology. Blockchain architecture ensures transaction security and transparency, while smart contracts provide automated trust mechanisms. Tokenization allows participants’ contributions to be immediately valued and rewarded as digital assets.

In energy applications, households with solar panels can securely sell excess power to neighbors or the grid via blockchain. This interoperability allows DePIN projects to seamlessly integrate with other blockchain networks and existing systems, creating a more comprehensive and flexible ecosystem.

The Innovative Value Offered by DePIN Crypto Projects

The benefits of the DePIN sector are extensive. First, security and resilience are enhanced by eliminating single points of failure and overcoming vulnerabilities inherent in centralized systems. Temporary failures have minimal impact on the overall system, enabling continuous service delivery.

Scalability and efficiency are also notable. Projects like Filecoin and Arweave demonstrate that leveraging decentralized node networks can handle vast data storage needs efficiently. For instance, Arweave’s third-quarter 2023 data shows 1.28 billion transactions across over 130 active projects, highlighting its scalability.

Cost reduction and democratized access are crucial as well. Projects like U2U Network show that tokenized incentives enable network building without heavy initial investments. This inclusivity opens infrastructure services traditionally accessible only to large corporations to a broader user base.

Top 12 DePIN Crypto Projects to Watch in 2026: Market Analysis

1. Internet Computer (ICP)

Developed by the DFINITY Foundation, Internet Computer (ICP) is an innovative decentralized computing platform that hosts web applications directly on the blockchain. Unlike traditional cloud services relying on centralized data centers, ICP leverages a global network of independent data centers, pushing forward the vision of a “world computer.”

In 2024, ICP achieved key milestones, launching multiple updates to enhance network performance and scalability. As of February 2026, ICP’s market cap reached $1.21 billion, reflecting market dynamics. The 2025 roadmap includes AI integration and expanded interoperability with blockchains like Solana, aiming to strengthen ICP’s position as a leading platform in DePIN.

2. Bittensor (TAO)

Bittensor is an open-source protocol integrating blockchain and artificial intelligence to build a collaborative machine learning network. Models train jointly, and contributors are rewarded in the native currency TAO based on the value of their contributions, creating a peer-to-peer marketplace for AI.

In 2024, Bittensor made significant technological advances, integrating latest tech such as Proof of Intelligence and Decentralized Mixture of Experts. As of February 2026, TAO’s market cap exceeds $1.72 billion, having experienced a -57.37% correction over the past year, indicating market volatility but maintaining strong fundamental value. Further protocol refinement and new applications are planned for 2025–2026.

3. Render Network (RENDER)

Render Network connects creators needing rendering services with providers offering unused GPU resources via blockchain. By harnessing global idle GPU power, it offers scalable, cost-effective solutions for 3D graphics, animation, and VR content.

In 2024, Render transitioned from Ethereum to Solana, rebranding its token, which significantly improved transaction speed and scalability. As of February 2026, RENDER’s market cap is approximately $744 million, down 64.80% over the past year. Adoption among creative communities continues to grow, aiming to establish Render as a leading decentralized rendering platform.

4. Filecoin (FIL)

Filecoin pioneers decentralized storage, enabling users to store, retrieve, and host data peer-to-peer. Using blockchain, it facilitates direct transactions between storage providers and clients, ensuring data security and verifiability.

In 2024, the launch of Filecoin Virtual Machine (FVM) opened new use cases, with Total Value Locked (TVL) surpassing $200 million. As of February 2026, FIL trades at about $0.95, reflecting market adjustments. The 2025 roadmap includes enhancing FVM programmability and deploying Ethereum-compatible smart contracts, maintaining Filecoin’s key role in decentralized storage.

5. Shieldeum (SDM)

Shieldeum offers AI-powered DePIN solutions providing advanced cybersecurity for crypto users and Web3 companies. Built on professional-grade data center infrastructure, it integrates application hosting, data encryption, and threat detection.

In 2024, Shieldeum achieved a milestone by developing applications across major platforms (Windows, Mac, Linux, Android, iOS), greatly improving user accessibility. It secured $2 million USDT for node testing and operational guarantees. Plans for 2025–2026 include expanding security product lines, entering new markets, and developing BNB Layer-2 blockchain to strengthen its DePIN sector position.

6. The Graph (GRT)

The Graph is a decentralized indexing protocol that organizes blockchain data for efficient access. Developers can create and publish open APIs called subgraphs, simplifying data queries and accelerating dApp development.

As of writing, GRT’s market cap is approximately $290.8 million, down 79.77% over the past year. Despite this, The Graph supports multiple chains (Ethereum, NEAR, Arbitrum, Optimism, Polygon, Avalanche), advancing its multi-chain strategy. The 2025 roadmap emphasizes diversifying data services, supporting developers, optimizing indexer performance, and building interconnected data graphs to underpin growing dApp ecosystems.

7. Theta Network (THETA)

Theta Network leverages blockchain to revolutionize video streaming and delivery infrastructure. Users share excess bandwidth and computing resources, improving streaming quality and reducing costs for content providers.

In 2024, THETA experienced an -84.44% correction, with a market cap of about $199.1 million. The EdgeCloud next-generation network solution was introduced, integrating cloud and edge computing. The upcoming EdgeCloud Phase 3 aims to connect clients and community-operated edge nodes via an open marketplace, progressing toward a global computing grid.

8. Arweave (AR)

Arweave offers permanent data storage through a novel “blockweave” structure, linking each block to multiple past blocks, enhancing data retrieval efficiency and redundancy.

In November 2024, Arweave released Protocol Upgrade 2.8, improving network efficiency, scalability, and energy use. As of February 2026, AR trades at about $2.01, with a market cap of approximately $131.6 million, down 77.95% over the past year. Its unique value proposition and market foundation support long-term growth, with plans to expand integrations and developer tools for widespread adoption of permanent data storage solutions.

9. JasmyCoin (JASMY)

JasmyCoin, developed by a Tokyo-based company, combines blockchain and IoT to enhance data sovereignty and security. Founded in 2016 by ex-Sony executives, it promotes a decentralized marketplace where individuals control their data.

In 2024, JasmyCoin experienced notable growth with strategic partnerships announced. As of February 2026, JASMY’s market cap is about $285.35 million, down 72.89% over the past year. The 2025 roadmap includes establishing partnerships with major IoT device companies, developing new features, and demonstrating practical benefits of IoT data utilization, aiming to strengthen its position in data democratization.

10. Helium (HNT)

Helium creates a decentralized wireless network for IoT devices, incentivizing individuals to deploy hotspots that provide network coverage and mine the native currency HNT.

The network has integrated with Solana for scalability. In 2024, 5G features and subnet tokens (IOT, MOBILE) were introduced, diversifying the ecosystem. As of February 2026, HNT’s market cap is approximately $271.4 million, down 58.67% over the past year. The focus is on strengthening Proof-of-Coverage and expanding global coverage to establish Helium as a leading decentralized wireless provider.

11. Grass Network (GRASS)

Grass Network enables users to monetize unused internet bandwidth and contribute to AI data collection. Running a Grass node allows the network to utilize idle bandwidth for web data collection and processing, creating structured datasets for AI development.

In 2024, Grass Network reached over 2 million users in beta, conducting large-scale airdrops to grow its community. As of February 2026, GRASS’s market cap is about $897 million, down 89.14% over the past year. Its roadmap includes infrastructure expansion, user engagement strategies, staking mechanisms, and governance development to build a more inclusive and transparent ecosystem.

12. IoTeX (IOTX)

IoTeX promotes blockchain and IoT integration, building a secure, scalable ecosystem for machine-to-machine interactions. Its Roll-DPoS consensus supports high throughput and low latency, optimized for IoT applications.

In 2024, IoTeX 2.0 introduced modular infrastructure supporting verifiable DePIN, with modules like DIM and MSP providing unified trust layers for DePIN projects. The ecosystem has expanded to over 230 dApps and 50 DePIN projects, establishing itself as a leading platform. The vision for 2025–2026 includes onboarding 100 million devices and enabling trillions of dollars in real-world value on-chain, aiming to become a core layer of Web3’s DePIN infrastructure.

Challenges and Path Toward Market Maturity for DePIN

For the DePIN sector to realize its full potential, several key challenges must be addressed. Technical complexity is primary; integrating blockchain with physical infrastructure demands advanced expertise in security, scalability, and interoperability. Ensuring seamless communication between decentralized networks and physical assets is critical for reliable operation, and this integration remains a barrier to progress.

Regulatory environments also pose significant hurdles. DePIN projects span both digital and physical infrastructure, requiring compliance across multiple jurisdictions. Evolving blockchain regulations further complicate legal compliance.

Market adoption is another challenge. Demonstrating clear advantages in cost efficiency, operational effectiveness, and user experience over traditional systems is essential for widespread acceptance. Overcoming skepticism from existing industries and proving the reliability of decentralized systems are crucial steps toward large-scale market penetration.

Future Outlook for the DePIN Sector: Next Growth Stage

The DePIN crypto sector is expanding at an accelerating pace, with ongoing market transformation. As of 2026, the market has experienced some correction, indicative of natural market cleansing and maturation. As technological implementations advance and practical use cases are validated, capital will increasingly flow into projects with genuine value.

Analysts remain optimistic, projecting the DePIN crypto market could reach $3.5 trillion by 2028. This growth is driven by rising demand for high-quality solutions in computing, storage, and AI. Increasing needs for high-speed streaming, online content delivery, and comprehensive data storage will be key growth drivers.

The shift from centralized to decentralized networks promises more efficient, inclusive, and resilient infrastructure solutions. This structural transformation will usher in a new era where individuals actively participate in value creation and are rewarded accordingly.

Conclusion

The DePIN crypto sector is establishing itself as one of the most innovative and high-growth areas within the crypto industry. Projects focused on security, scalability, and true decentralization are attracting increasing investor and trader interest.

As demand for decentralized solutions grows structurally, DePIN projects will play a vital role not only as technological innovators but also in the decentralization of capital allocation. After market adjustments, projects delivering real value are poised to become key investment targets in the next growth cycle.

Deepening research and engagement in the DePIN field are becoming essential components of Web3 investment strategies, representing a new frontier in crypto investment.