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Top 10 DePIN Coins to Invest in 2024

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Decentralized Physical Infrastructure Networks (DePIN) is one of the top crypto narratives to explore. DePIN projects decentralized real-world infrastructure ecosystems, such as GPU rendering, wireless internet access, and cloud storage. 

This guide explores the 10 best DePIN coins to buy right now. Discover the most undervalued DePIN projects before altcoin season arrives. 

List of the Top DePIN Cryptocurrencies for 2024 

In my view, these are the best DePIN coins offering the highest long-term upside:

  1. eTukTuk – The overall best DePIN crypto project, building EV tuk-tuks with AI integration
  2. Render – Peer-to-peer GPU rendering services with tokenized rewards
  3. BitTorrent – Decentralized file-sharing platform for music, videos, and images
  4. Filecoin – Volatile DePIN project offering decentralized storage systems  
  5. Theta Network – Innovative video streaming network with bandwidth-sharing rewards 
  6. MultiversX – Proprietary blockchain infrastructure supporting DePIN initiatives  
  7. Ocean Protocol – Tokenized data-sharing marketplace with fair and secure monetization  
  8. Livepeer – On-demand infrastructure for faster and more cost-effective video transcoding    
  9. Storj – Low-cap cloud storage project with a global network of independent nodes
  10. World Mobile Token – Mobile node operators earn rewards for sharing internet access 

Exploring the Best DePIN Cryptocurrency Projects: My Analysis 

The best DePIN crypto projects decentralize entire infrastructure ecosystems, whether that’s cloud storage, data sharing, or internet services. Each DePIN network has a native crypto coin that incentivizes participation. 

In theory, DePIN coins will increase in value as the project acquires more network activity. Read on for my full analysis of the top projects in the growing DePIN space. 

1. eTukTuk – The Overall Best DePIN Crypto Project to Invest in Today

My top pick is eTukTuk, a DePIN project that’s revolutionizing transportation. It builds electric tuk-tuk vehicles for the developing world. Based in Sri Lanka, eTukTuk vehicles will initially roll out in the domestic market. Other Asian territories will then be targeted. Its tuk-tuks are built using local and sustainable materials. 

What’s more, eTukTuk vehicles are more affordable and reliable when compared to internal combustion engines. Not to mention considerably better for the environment. In addition to DePIN, eTukTuk is also a top-rated AI project. Its vehicles come pre-installed with AI navigation, meaning drivers are shown the most efficient routes in real-time. 

eTukTuk presale

eTukTuk’s native DePIN token is TUK, which operates on the energy-efficient BNB Chain. TUK tokens are available at presale prices; over $3.2 million has already been raised. While the current presale price is $0.031 per TUK, this will increase in the coming days. Presale investors staking their tokens are currently earning APYs of 85%.  

DePIN Project eTukTuk
Ticker $TUK
Chain BNB Chain
Token Supply 2 billion
Presale Raise $3.2 million
Accepted Presale Payments BNB, USDT (BEP-20), ETH, Credit Cards

Visit eTukTuk Presale 

2. Render – Peer-to-Peer GPU Rendering Services With Tokenized Rewards

Render is also one of the best DePIN coins to consider. In simple terms, Render has developed a decentralized, peer-to-peer framework for graphics processing unit (GPU) services. End users are typically involved in high-end video and image rendering, which requires significant GPU space. Instead of using centralized providers – end users can engage with the Render platform. 

In doing so, GPU space is rented from peer-to-peer users. Anyone can offer spare GPU storage; all that’s required is a home computing device. Those offering GPU space are rewarded in RNDR tokens. Render’s framework is self-sufficient, as end users need RNDR to pay for their GPU requirements.

Render price chart

Like other prominent DePIN projects, Render leverages AI within its ecosystem. AI protocols optimize the Render network, ensuring speed, cost-effectiveness, and reliability. In terms of performance, Render has increased by almost 250% in the past year. The project is up over 19,000% since launching in 2020. 

DePIN Project Render
Ticker RNDR
Market Cap $2.8 billion
DePIN Market GPU rendering
All-Time High $13.60
1-Year Price Gains 250%

Buy Render on eToro

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. [website domain name] is not an affiliate and may be compensated if you access certain products or services offered by the MSB.

3. BitTorrent – Decentralized File-Sharing Platform for Music, Videos, and Images 

Next on this list of DePIN cryptocurrency projects is BitTorrent. In a nutshell, BitTorrent is a file-sharing platform. Purchased by TRON in 2018, it’s a continuation of the original BitTorrent software that launched in 2001. However, BitTorrent is now completely decentralized, allowing users to share files without going through a centralized server. 

What’s more, participants are now incentivized to share files with other users – whether that’s music, videos, or images. Rewards are distributed in the project’s native token, BTT. In addition, BitTorrent offers a beginner-friendly experience. The platform can be accessed via Windows and Mac software, plus an Android app. 

BitTorrent price chart

However, there’s currently no support for iOS. Nonetheless, BitTorrent tokens have increased by almost 85% in the past year. That said, BitTorrent currently trades 62% below all-time highs. BitTorrent has a market capitalization of just over $1.1 billion, offering plenty of room for long-term growth.  

DePIN Project BitTorrent
Ticker BTT
Market Cap $1.1 billion
DePIN Market Decentralized file-sharing
All-Time High $0.000003054
1-Year Price Gains 85%

Buy BitTorrent on MEXC

4. Filecoin – Volatile DePIN Project Offering Decentralized Storage Systems   

Filecoin is another top-rated DePIN project that investors should consider. It specializes in decentralized storage systems. The network is open-sourced and leverages a peer-to-peer framework. For instance, those offering cloud storage space are incentivized with tokenized rewards. 

These are distributed in FIL tokens, which are unique to Filecoin. At the other end of the transaction are those requiring storage space. Rental payments are made in FIL, ensuring a sustainable tokenized model. Filecoin is one of the most established DePIN projects on this list.  As reported by Reuters, Filecoin raised over $257 million in its 2017 presale campaign. 

Filecoin price chart

Since the presale, the Filecoin price has witnessed extreme volatility. Originally listing at $11.48, FIL tokens hit all-time highs of $237.24 in 2021. This represents growth of almost 2,000%. However, Filecoin has since declined by over 97% from its peak valuation. In the prior year, FIL has increased by just 7%. 

DePIN Project Filecoin
Ticker FIL
Market Cap $3 billion
DePIN Market Cloud storage
All-Time High $237.24
1-Year Price Gains 7%

Buy Filecoin on eToro

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. [website domain name] is not an affiliate and may be compensated if you access certain products or services offered by the MSB.

5. Theta Network – Innovative Video Streaming Network With Bandwidth-Sharing Rewards    

DePIN investors might also consider Theta Network a great option. This innovative project is decentralizing the video streaming industry. It aims to democratize streaming access on a global basis, including increased video quality and faster loading times. It operates a peer-to-peer model to achieve these goals. 

Anyone can offer their spare internet bandwidth to the Theta Network ecosystem. This enables users to earn tokenized rewards, paid in THETA. Those buying bandwidth space also require THETA tokens. The Theta blockchain is unique to the project and smart contract development is supported. 

Theta Network price chart

Moreover, Theta Network has created a secondary token for transaction fees, TFUEL. This ensures cost-effective transfers at all times. Theta Network is currently valued at almost $2 billion. It has increased by more than 101% in the prior year. However, THETA tokens currently trade 87% below all-time highs. 

DePIN Project Theta Network
Ticker THETA
Market Cap $2 billion
DePIN Market Video streaming
All-Time High $15.90
1-Year Price Gains 101%

Buy Theta Network on eToro

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. [website domain name] is not an affiliate and may be compensated if you access certain products or services offered by the MSB.

6. MultiversX – Proprietary Blockchain Infrastructure Supporting DePIN Initiatives      

MultiversX is a multi-niche project that covers DePIN, decentralized finance, and the Internet of Things (IoT). It has developed a proprietary blockchain infrastructure with strong fundamentals. MultiversX claims to have scalability capabilities of up to 100,000 transactions per second. The average transaction cost is just $0.002, making it ideal for micro-transactions. 

The MultiversX network is suitable for both online and offline DePIN initiatives. For example, consider a traditional lending company that operates on the African continent. Through MultiversX, the lender could offer collateralized stablecoin loans. Execution would be automated via smart contracts.

MultiversX price

Another use case is data integrity; MultiversX leverages ZK technology to detect inaccurate information and even ‘deep fakes’. Its native token, EGLD, is required when transacting in the MultiversX ecosystem. However, MultiversX has underperformed the broader DePIN market with 1-year losses of 5%. It also trades 93% below all-time highs.   

DePIN Project MultiversX
Ticker EGLD
Market Cap $1 billion
DePIN Market Blockchain infrastructure
All-Time High $542.58
1-Year Price Loss 5%

Buy MultiversX on MEXC

7. Ocean Protocol – Tokenized Data-Sharing Marketplace With Fair and Secure Monetization        

Ocean Protocol has developed an innovative ecosystem that supports decentralized and secure data-sharing. It has an incentivization model that enables data owners to monetize their findings. For example, consider a research organization that specializes in marine wildlife, covering everything from water quality and population numbers to average lifespans. 

The organization can securely share its data on the Ocean Protocol marketplace. The data will be tokenized and sold on a peer-to-peer basis. Anyone who wants the marine data can purchase it with OCEAN tokens. This offers a direct income stream for those providing useful, accurate, and unbiased data streams. 

Ocean Protocol price

Ocean Protocol is currently valued at just over $461 million. Considering that just 40% of the token supply is in circulation, this translates to a fully diluted valuation of $1.1 billion. Over the past year, OCEAN tokens have increased by 128%. However, those entering the market today will secure a 58% discount from all-time highs. 

DePIN Project Ocean Protocol
Ticker OCEAN
Market Cap $461 million
DePIN Market Data monetization
All-Time High $1.94
1-Year Price Gains 128%

Buy Ocean Protocol on eToro

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. [website domain name] is not an affiliate and may be compensated if you access certain products or services offered by the MSB.

8. Livepeer – On-Demand Infrastructure for Faster and More Cost-Effective Video Transcoding            

Livepeer is also one of the best DePIN coins to revolutionize online video streaming. It offers on-demand video infrastructure solutions for faster and more cost-effective outputs. Livepeer’s target market is application developers who want to streamline the video transcoding process. According to Livepeer, its solutions are 50 times cheaper than conventional providers. 

In addition, Livepeer operates a decentralized framework with tokenized incentives. Anyone can join its network of ‘orchestrators’, who provide spare computational resources. This includes everything from internet bandwidth to CPU and GPU storage. These resources enable participants to earn Livepeer’s native token, LPT. 

Livepeer price

Like many DePIN crypto projects, Livepeer has enjoyed strong price momentum recently. LPT tokens have increased by almost 130% in the past year. Those buying LPT today will secure a huge discount; current prices trade 87% below all-time highs. Livepeer has a modest valuation of just under $340 million. 

DePIN Project Livepeer
Ticker LPT
Market Cap $340 million
DePIN Market Video transcoding
All-Time High $12.66
1-Year Price Gains 130%

Buy Livepeer on eToro

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. [website domain name] is not an affiliate and may be compensated if you access certain products or services offered by the MSB.

9. Storj – Low-Cap Cloud Storage Project With a Global Network of Independent Nodes

Storj could be the next crypto to explode in the DePIN space – especially considering its attractive valuation. Currently, Storj has a market capitalization of just $207 million. Almost 100% of the Storj supply is circulating, so there’s no risk of new tokens entering the market. What’s more, Storj currently trades 87% below its all-time high. 

Nevertheless, Storj’s price momentum is strong, with 49% growth in the prior year. In terms of use cases, Storj offers decentralized cloud storage solutions. It has developed a global network of independent nodes, ensuring there’s no single point of value. This means end users can avoid the risks of data breaches. 

Storj price

Storj is also an environmentally friendly project; nodes aren’t required to purchase specialist hardware. On the contrary, existing capabilities are being maximized, resulting in a reduced carbon footprint. Privacy is also assured – only data owners can access their files. The Storj user experience is also solid, meaning its storage ecosystem will appeal to the masses.    

DePIN Project Storj
Ticker STORJ
Market Cap $207 million
DePIN Market Data storage
All-Time High $3.91
1-Year Price Gains 49%

Buy Storj on eToro

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. [website domain name] is not an affiliate and may be compensated if you access certain products or services offered by the MSB.

10. World Mobile Token – Mobile Node Operators Earn Rewards for Sharing Internet Access 

Last on this list of DePIN cryptocurrencies is World Mobile Token. This project is one of the most inclusive DePIN initiatives. Anyone with a smartphone can become a network node and earn passive, tokenized rewards. There are two different node types to choose from. First, ‘EarthNodes’ keep the network secure and operational. 

They verify transactions and other ecosystem services. Second, ‘AirNodes’ enable users to become independent network operators. They share WiFi or mobile data and are paid tokenized rewards. Network operating access is also shared, meaning rewards are also paid when end users call or text.  

World Mobile Token price

All reward distributions are made in the project’s native DePIN token, WMT. World Mobile Token is also one of the best cryptocurrencies to buy for small-cap investors. The WMT market capitalization is just $155 million. Price performance is strong, with World Mobile Token increasing by 117% in the past year

DePIN Project World Mobile Token
Ticker WMT
Market Cap $155 million
DePIN Market Mobile node services
All-Time High $0.9804
1-Year Price Gains 117%

Buy World Mobile Token on MEXC

What is DePIN in Crypto?

DePIN is an abbreviation of Decentralized Physical Infrastructure Networks. It’s a fast-growing industry that bridges the gap between real-world services and blockchain technology. One of DePIN’s most important tasks is decentralization. For example, consider the traditional cloud storage market, which is dominated by Amazon and Google. 

These services are centralized, meaning the risks of data breaches and hacks are ever-present. In contrast, DePIN providers like Filecoin and Storj offer decentralized storage alongside a peer-to-peer framework. This means anyone can offer their spare computing resources and earn tokenized rewards for doing so. 

Top DePIN coins by market cap

Security is vastly increased too, as there’s no single point of failure. The DePIN concept extends to many other use cases and industries. This covers everything from supply chain management and image rendering to video streaming and decentralized file sharing. DePIN has also made its way to sustainable transportation, with eTukTuk building electric tuk-tuks for the Asian market. 

Each DePIN project has a native token. They typically have strong utility within the respective ecosystem. Moreover, DePIN tokens incentivize participation. For instance, BitTorrent users earn BTT tokens for sharing videos, music, or images. Similarly, World Mobile Token users earn WMT when sharing their WiFi or 5G connections. 

How Does DePIN Revolutionize the Crypto Market?

The crypto markets are commonly associated with risk, speculation, and a lack of utility. While this is true for many tokens – including the best meme coins, DePIN offers an alternative side to crypto. This is because DePIN coins offer real-world use cases. They bridge the gap between offline services and the Web 3 era, meaning DePIN solves many existing issues. 

This is because DePIN decentralizes traditional services, whether that’s cloud storage, energy supply, or transportation. Moreover, DePIN coins incentivize participation through tokenization. This means that DePIN projects can scale infinitely. This is without hindering the user experience or compromising on security and cost-effectiveness.  

For example, consider a DePIN project like Render. Anyone can sell their spare GPU resources and earn RNDR tokens. GPU availability increases as more people join the network. Crucially, like many DePIN projects, Render operates a sustainable tokenization model. This is because RNDR rewards are funded by those buying GPU space.   

Should I Buy DePIN Coins? The Investment Thesis

Some analysts believe that DePIN will be one of the biggest narratives during the next bull cycle. This is in addition to artificial intelligence, blockchain gaming, and real-world asset (RWA) tokens. 

Crucially, the broader markets – especially long-term holders, favor projects with specific use cases. DePIN fits within this category. 

Let’s take a closer look at the DePIN investment thesis. 

Strong Price Momentum

First, let’s start with DePIN’s strong price momentum over the prior year. Put simply, the best DePIN coins have outperformed the broader markets. 

  • For example, Render, Ocean Finance, and Livepeer have increased by 250%, 128%, and 130%, respectively. 
  • Bitcoin and Ethereum – the two largest cryptocurrencies by market capitalization, have increased by 105% and 60% over the same period. 

Ultimately, if your main focus is to outperform the wider markets, DePIN coins have proven their ability to do so. 

Seamless Diversification 

According to CoinMarketCap, there are more than 130 DePIN projects in the market. This gives the DePIN industry a total valuation of over $31 billion. Crucially, you can reduce the risks of investing in DePIN by diversifying across multiple projects. 

For a start, a well-balanced DePIN portfolio should cover many different sub-niches. This can include sustainable transportation, cloud storage, file-sharing, video streaming, mobile internet services, and GPU rendering. The next step is to choose the best altcoins coins within each niche. 

A popular strategy is to cover a variety of large and small-cap projects. For example, Filecoin, Render, and Theta Network are large-cap players at the top of the DePIN ecosystem. These are considered ‘safer’ plays than small-caps but the growth potential will be more limited. 

eTukTuk DePIN project

With this in mind, a collection of small-caps projects should also be explored. Examples include Livepeer, Storj, and World Mobile Token, which are valued between $155 million and $340 million. 

Investors targeting even higher returns might consider a micro-cap DePIN token like eTukTuk. Its native token, TUK, is being sold to presale investors, meaning they aren’t available on exchanges yet. This offers a first-mover advantage at an attractive entry price. 

Utility Projects Have Long-Term Potential

Although meme coins are some of the strongest performers in recent months, price momentum is often short-lived. This means that successful meme coins might pump for several days or weeks before losing a significant chunk of their valuation. In contrast, DePIN coins have strong utility, meaning they’re a lot more suitable for long-term growth. 

What’s more, DePIN coins create organic demand – meaning they’re not only purchased for speculative gains. This reduces the investment risks. For example, those renting cloud storage space on the Filecoin network need FIL tokens. This is because FIL is the only accepted payment currency, ensuring solid utility. 

This concept can be found in most DePIN projects. Therefore, DePIN should be viewed as a long-term play. Ensure your portfolio is well diversified across multiple utilities and target markets. This will enable you to gain exposure to DePIN in a risk-averse way. 

The Verdict?

DePIN is one of the hottest crypto narratives in 2024. Building a DePIN portfolio while prices are cheap could yield solid returns. However, ensure you’re diversified across multiple DePIN niches to reduce the risks. 

It’s also worth considering DePIN projects in presale. eTukTuk, for example, bridges the gap between electric tuk-tuk vehicles, AI, and blockchain technology. eTukTuk’s presale is still ongoing and over $3.2 million has been raised so far. 

Visit eTukTuk Presale 

FAQs

What is the most promising DePIN in crypto?

eTukTuk is the most promising DePIN crypto. It contributes to DePIN by building electric tuk-tuk vehicles. eTukTuk is a micro-cap DePIN investment that’s currently in presale. 

What are the top DePIN projects?

As per CoinMarketCap, the top DePIN projects by market capitalization are Internet Computer, Filecoin, Render, Bittensor, and Theta Network. 

Is Siacoin a DePIN?

Yes, Siacoin is a DePIN cryptocurrency. It has developed a decentralized cloud storage platform with tokenized incentives. 

References

  1. Breakingviews – ICO Represents Last-Gasp Hope for Struggling Kodak (Reuters)
  2. Decrypting Financial Stability Risks in Crypto-Asset Markets (European Central Bank)
  3. Memecoin Billionaires Are Back With Bets on Being the ‘First Idiot In’ (Bloomberg)
  4. Top DePIN Tokens by Market Capitalization (CoinMarketCap)

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