DePIN is one of the largest and fastest-growing sectors in crypto. It currently has a ~$20 billion market value. Despite its fast growth, there are still good deals to be had in this sector.
So today, we look at 3 DePIN altcoins we like and think could pump. We look at large cap, midcap, and small-cap to show you the different opportunities available in this sector.
1) Large Cap: Render ($RENDER)
For the large-cap choice, we go with one of the biggest DePIN projects. Render. Render is one of the most DePIN of projects in the sector. A fully distributed network of GPU computing power for one main purpose.
For AI programs to use that computing power to render images. By now, many of you are familiar with MidJourney. So, it’s like that although MidJourney has its computing power. AI programs need a ton of GPU computing power. That’s also one of the reasons why NVIDIA has exploded in the last couple of years. They make GPU chips.
Source: X
All AI programs need them whether LLM models like for chatbots a la OpenAI or image rendering programs. You can easily add your excess computing power to the network and earn some $RENDER yourself. Now you should know they did a recent rebrand of the token from $RNDR to $RENDER.
The most important parts of the project stayed the same. However, their move to Solana for its speed and lower fees meant that this rebrand was more like a reissue of their token. Instead of an ETH token, it’s a Solana SPL token instead. It’s more about taking advantage of Solana’s network effects than anything else.
More About Render
It’s also why they didn’t do a full name change or anything too dramatic. Honestly, Render is as good as it ever was. Or better. And the Solana move was a good move for them even if ETH gas prices are lower now.
Source: X
The $RENDER token is down 40% over the last 3 months and only 8% in the last 30 days. That makes them a top performer in the last month esp among those not named Bitcoin, Solana, or a memecoin.
So it’s been showing strength during market weakness. Those who hold longer terms are rewarded even more. In the last 12 months, it’s up 315%. We like this project a lot. It has only 1 major negative you should be aware of. While the total supply now is 532 million and manageable, the max supply is infinite.
The team has been responsible in their supply management though. We expect that to continue. What’s your favorite DePIN project? Let us know in the comments below.
2) MidCap: OriginTrail ($TRAC)
OriginTrail is one of our Alpha Research Team’s gems. It’s our midcap choice in DePIN. OriginTrail is about decentralized AI AND decentralized truth. By truth, we are talking about the verification of info.
Supply chains and manufacturing use this tech for things like verifying rail safety for the transport of goods. This verification or proof of truth has a chance to become one of blockchain’s biggest use cases in an increasingly AI and deepfake world.
Source: X
Supply chains use this for transparency, safety, and sustainability. One example in the supply chain is to ensure the provenance of wine from the Champagne region. This is necessary so it can be called Champagne and charged more than generic sparkling wine.
UK Customs and Swiss Federal Railways already use these decentralized knowledge graphs to keep their processes tight, fast, and transparent. Currently, in the Metcalf phase, the roadmap is pretty ambitious including solutions for when an AI LLM hallucinates as well as:
- Offering multichain solutions within EVM.
- Designated staking, among other goals.
The OriginTrail native token $TRAC has a market cap of $233 million. In the last 3 months, $TRAC is down 35% and in the last 30 days, it’s down 15%. Given the volatile nature of the market and the recent flash crash, this is not bad. In the last 12 months, investors have done even better with a 155% ROI. 80% or 406 million out of 500 million tokens are in circulation. Unlike many DePIN projects, the tokenomics here are pretty good.
3) Small Cap: DIMO
DIMO is a small-cap DePIN project our Alpha Research Team identifies as a Gem. DIMO is an emerging leader in the connected car applications sector. It’s an open protocol that lets any developer make any app for any make of car and it will be compatible with the car’s existing hardware and software.
An important area where DIMO uses its DePIN-ness and blockchain is security. Car apps are notoriously insecure and car companies are cavalier with your data. They don’t care either except to have clean data to sell to others. But instead, you can control and monetize your car app data how you want with DIMO. It’s compatible with any care newer than 2008, too.
Source: X
One of the best things DIMO does is provide an interactive health checkup of your car so you can spend a little on prevention when needed. This would save you hundreds later if something were to break down. And DIMO doesn’t just help keep your car away from the mechanic. It also helps with things like assessing your car’s value if you are thinking of trading it in.
Certain apps on DIMO also bring your insurance rates down. So it’s a pretty good deal. As long as the car is going to be “smart” and collect your data anyway, at least have it do so in a way that is useful for you and that you control. That’s the whole ethos behind DIMO. The $DIMO token represents all the rewards you earn for your car’s data. $DIMO currently has:
- Market cap of $35 million.
- 235 million tokens in circulating supply.
- 1 billion in total and max supply.
- It’s up a respectable 44% in the last 12 months.
And like most of crypto, it’s suffered recently down 16% in the last 30 days. This is much better than most projects we’ve seen. DIMO helps take a centralized data provider, your car company, and use the best of what DePIN has to offer. It decentralizes this network across nodes around the world with final control in your hands.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
