Market
6 DePin Projects That Could Skyrocket After Market Recovery
Despite the current downturn in the crypto market, with Bitcoin plummeting to $65,000, Decentralized Physical Infrastructure Network (DePin) projects are drawing attention as likely contenders for substantial growth during the market’s recovery.
Industry experts forecast a strong resurgence, especially for AI-integrated DePin initiatives. These DePin projects represent the cutting edge of innovation and adaptability. While they face risks from high volatility and competition, their transformative potential offers hope for investors searching for the next significant breakthrough in the crypto ecosystem.
Crypto Analyst Discusses 6 DePin Projects
Crypto trader Kazi identifies six DePin projects potentially set for explosive growth. Cosmic Network (COSMIC) tops his list, offering online privacy through its decentralized virtual private network (VPN) services.
Despite a micro market cap of $19.46 million, which exposes it to volatility and potential market manipulation, Kazi praises its team.
“Cosmic Network is a decentralised VPN project with software and hardware nodes. It has a doxxed and an extremely hardworking team,” Kazi said.
Read more: What Is DePIN (Decentralized Physical Infrastructure Networks)?
Furthermore, Kazi draws attention to the Blendr Network (BLENDR), which focuses on Graphics Processing Unit (GPU) computing.
The project aims to build a large network of decentralized GPUs, allowing individuals to lease their unused GPU power. However, it faces competition from larger entities like io.net (IO) and Aethir (ATH).
Also on Kazi’s watchlist is DSync, part of the Destra Network, which merges decentralized cloud solutions with GPU networking to create a potent ecosystem. Kazi describes it as “Filecoin and Render on steroids,” with a market cap of $170 million. It carries the same risks of market volatility as other smaller-cap projects.
Turning to crypto mining, HashAI (HASHAI) combines artificial intelligence (AI) with mining strategies.
“HashAI scaled into one of the biggest GPU mining companies in a very short time. Massive potential once the market picks up steam,” Kazi speculated.
Nevertheless, the project might face typical mining challenges, such as rising costs and increased mining difficulty.
Another DePin project is the ATOR Protocol, which enhances The Onion Router (Tor) network through blockchain incentives. Despite its significant drop from peak levels in April 2024, Kazi remains bullish about its prospects, emphasizing upcoming product launches.
Read more: Top 9 Web3 Projects That Are Revolutionizing the Industry
Lastly, OpSec utilizes AI to enhance blockchain infrastructure, focusing on improving security and privacy. With key partnerships and imminent product releases, the project, though small with a $45 million market cap, is poised for potentially high rewards, albeit with inherent market risks.
DeFi analyst Caff is also optimistic about the future rebound.
“I expect the AI/DePIN sector to take the spotlight again when the market bounces The key is to identify the ones with solid utility and strong teams,” Caff said.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
ETF issuer WisdomTree’s European division just announced a new ETP based on XRP. This product is currently available in four EU countries, which has led XRP’s price to jump slightly.
ETPs are a common issuer strategy to earn revenue without ETF approval, but Europe will not necessarily approve one even if the US does so.
WisdomTree’s XRP ETP
WisdomTree, one of the Bitcoin ETF issuers in the US, announced that its European branch is offering an exchange-traded product (ETP) based on XRP. This new product is currently available in Germany, Switzerland, France, and the Netherlands. A growing number of issuers have filed for an XRP ETF, but WisdomTree is taking a slightly different tack.
“The WisdomTree Physical XRP ETP offers a simple, secure, and low-cost way to gain exposure to XRP, one of the largest cryptocurrencies by market capitalization. Backed 100% by XRP, XRPW is the lowest-priced XRP ETP in Europe, providing direct spot price exposure,” the announcement claimed.
The possibility of an official XRP ETF is growing with the current bull market, and Ripple CEO Brad Garlinghouse considers it “inevitable.” Still, it hasn’t happened yet, and ETP offerings allow issuers to somewhat address customers’ requirements. BitWise, which has also filed for an XRP ETF in the US, recently acquired a European ETP issuer to enter the same market.
WisdomTree, however, is no stranger to this market strategy. In May this year, it won approval to offer ETPs based on Bitcoin and Ethereum to British investors.
The UK has not yet approved a full ETF for either of these assets, but WisdomTree still gained market access. Even a fraction of the XRP market could also prove lucrative; the asset’s value spiked today.
WisdomTree Europe’s strategy page does not describe any further actions upon full approval. Even if the US approves an XRP ETF under the SEC’s new leadership, that won’t necessarily benefit WisdomTree’s European branch. For now, these ETPs built on XRP will have to suffice for this market.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Ethereum price started a fresh increase above the $3,220 zone. ETH is rising and aiming for more gains above the $3,350 resistance.
- Ethereum started a fresh increase above the $3,220 and $3,300 levels.
- The price is trading above $3,250 and the 100-hourly Simple Moving Average.
- There is a short-term contracting triangle forming with resistance at $3,360 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair could gain bullish momentum if it clears the $3,385 resistance zone.
Ethereum Price Regains Traction
Ethereum price remained supported above $3,000 and started a fresh increase like Bitcoin. ETH gained pace for a move above the $3,150 and $3,220 resistance levels.
The bulls pumped the price above the $3,300 level. It gained over 10% and traded as high as $3,387. It is now consolidating gains above the 23.6% Fib retracement level of the recent move from the $3,036 swing low to the $3,387 high.
Ethereum price is now trading above $3,220 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $3,350 level. There is also a short-term contracting triangle forming with resistance at $3,360 on the hourly chart of ETH/USD.
The first major resistance is near the $3,385 level. The main resistance is now forming near $3,420. A clear move above the $3,420 resistance might send the price toward the $3,550 resistance. An upside break above the $3,550 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,650 resistance zone or even $3,880.
Another Decline In ETH?
If Ethereum fails to clear the $3,350 resistance, it could start another decline. Initial support on the downside is near the $3,300 level. The first major support sits near the $3,250 zone.
A clear move below the $3,250 support might push the price toward $3,220 or the 50% Fib retracement level of the recent move from the $3,036 swing low to the $3,387 high. Any more losses might send the price toward the $3,150 support level in the near term. The next key support sits at $3,050.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone.
Hourly RSI – The RSI for ETH/USD is now above the 50 zone.
Major Support Level – $3,250
Major Resistance Level – $3,385
Ethereum price started a fresh increase above the $3,220 zone. ETH is rising and aiming for more gains above the $3,350 resistance.
- Ethereum started a fresh increase above the $3,220 and $3,300 levels.
- The price is trading above $3,250 and the 100-hourly Simple Moving Average.
- There is a short-term contracting triangle forming with resistance at $3,360 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair could gain bullish momentum if it clears the $3,385 resistance zone.
Ethereum Price Regains Traction
Ethereum price remained supported above $3,000 and started a fresh increase like Bitcoin. ETH gained pace for a move above the $3,150 and $3,220 resistance levels.
The bulls pumped the price above the $3,300 level. It gained over 10% and traded as high as $3,387. It is now consolidating gains above the 23.6% Fib retracement level of the recent move from the $3,036 swing low to the $3,387 high.
Ethereum price is now trading above $3,220 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $3,350 level. There is also a short-term contracting triangle forming with resistance at $3,360 on the hourly chart of ETH/USD.
The first major resistance is near the $3,385 level. The main resistance is now forming near $3,420. A clear move above the $3,420 resistance might send the price toward the $3,550 resistance. An upside break above the $3,550 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,650 resistance zone or even $3,880.
Another Decline In ETH?
If Ethereum fails to clear the $3,350 resistance, it could start another decline. Initial support on the downside is near the $3,300 level. The first major support sits near the $3,250 zone.
A clear move below the $3,250 support might push the price toward $3,220 or the 50% Fib retracement level of the recent move from the $3,036 swing low to the $3,387 high. Any more losses might send the price toward the $3,150 support level in the near term. The next key support sits at $3,050.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone.
Hourly RSI – The RSI for ETH/USD is now above the 50 zone.
Major Support Level – $3,250
Major Resistance Level – $3,385
Dogecoin Hashrate Surges To New All-Time High Amid Rise In Positive Momentum
WisdomTree Europe Launches XRP ETP
BTC Surges to $99K, ETH Shoots, XRP Jumps 25%
Rallies 10% and Targets More Upside
Rallies 10% and Targets More Upside
“Crypto Dad” Chris Giancarlo Emerges Top For White House Crypto Czar Role
2.52 Million Altcoins Are Ruining Crypto’s Future
Animoca Brands Valuation Tanks 75% In Two Years, Here’s Why
Crypto exchange BingX hacked for $43 million
Are The Big Players Losing Interest?
Hong Kong’s Securities Association Tips Authorities On Crypto Self-Regulation
Coinbase cbBTC Set to go Live on Solana
2.52 Million Altcoins Are Ruining Crypto’s Future
Animoca Brands Valuation Tanks 75% In Two Years, Here’s Why
Crypto exchange BingX hacked for $43 million
Are The Big Players Losing Interest?
Hong Kong’s Securities Association Tips Authorities On Crypto Self-Regulation
Coinbase cbBTC Set to go Live on Solana
-
Ethereum22 hours agoFundraising platform JustGiving accepts over 60 cryptocurrencies including Bitcoin, Ethereum
-
Market18 hours agoSouth Korea Unveils North Korea’s Role in Upbit Hack
-
Market23 hours agoCardano’s Hoskinson Wants Brian Armstrong for US Crypto-Czar
-
Altcoin15 hours agoDogecoin Whale Accumulation Sparks Optimism, DOGE To Rally 9000% Ahead?
-
Altcoin20 hours agoWhy FLOKI Price Hits 6-Month Peak With 5% Surge?
-
Bitcoin13 hours agoMarathon Digital Raises $1B to Expand Bitcoin Holdings
-
Market13 hours agoETH/BTC Ratio Plummets to 42-Month Low Amid Bitcoin Surge
-
Altcoin24 hours agoSHIB Burn Rate Surges 2200%, Shiba Inu Eyes Parabolic Rally Ahead?
