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Bittensor Ranks 1st by Social Activity, and More

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Decentralized Physical Infrastructure Networks (DePin) are transforming the tech by enabling decentralized projects in real-world infrastructure.

Here’s what happened recently in the DePIN sector: Bittensor led the list of projects with the highest social activity, decentralized weather tracking network WeatherXM installed its stations around the Olympic venues, Hivemapper
and DMM Crypto started demonstration experiment in Japan.

Phoenix Names Top DePin Projects by Social Activity

Analytics platform Phoenix Group recently released a list of prominent DePIN projects based on social activity. The list includes TAO, RNDR, FIL, ICP, EGLD, WMT, DIONE, HOT, AR, and AKT. The announcement was shared on the firm’s official X (formerly Twitter) account.

Phoenix Group’s DePIN social activity list considers key indicators like engaged posts and interactions. Engaged posts track the number of posts receiving interactions within 24 hours, while interactions cover socially-driven actions such as upvotes, retweets, comments, and likes.

According to Phoenix Group, TAO tops the list with 7,200 engaged posts and 1 million interactions. RNDR ranks second with 5,800 posts and 371,500 interactions, followed by FIL in third with 5,600 posts and 558,000 interactions. ICP and EGLD complete the top five, showcasing strong community engagement.

Read more: What Is DePIN (Decentralized Physical Infrastructure Networks)?

Top DePin Projects by Social Activity
Top DePin Projects by Social Activity. Source: X/Twitter

While social activity isn’t the only metric to gauge a project’s success, it offers valuable insight into community engagement and interest. High interaction levels, like those seen in TAO, RNDR, and FIL, often reflect strong user involvement, which can drive adoption and momentum. However, other factors like technology, real-world utility, and market conditions also play crucial roles in determining long-term success.

WeatherXM Stations Appeared at Olympic Games

A decentralized weather tracking network called WeatherXM installed 40 Pulse weather stations around Olympic venues. These $900 devices reward operators with tokens while tracking crucial weather data, including precise temperatures, solar radiation, and air pressure near the competition areas.

The installation came together when Yannis Pitsiladis, a professor and member of the International Olympic Committee’s Medical and Scientific Commission, struck a partnership deal between WeatherXM and his research company Humantelemetrics. Humantelemetrics purchased 40 of the weather stations and now will receive token rewards for taking part in the network.

“A major objective of this mainly R&D partnership is to create and make universally available more innovative environmental monitoring solutions to allow the microclimate of competing athletes, officials, and even spectators to be determined in real-time and anywhere in the world where there is connectivity, with particular focus on keeping all these important stakeholders safe when operating in extreme environmental conditions,” Pitsiladis commented.

Pulse Station at Olympic Venue. Source: X/Twitter

The sensors were used to track the “microclimate” to keep athletes and observers safe during “extreme environmental conditions.” So, perhaps WeatherXM stations could offer more precise monitoring on lightning storms or excessive heat.

WeatherXM is a growing player in the DePIN space. While some WeatherXM stations connect to Helium’s IoT network, the Pulse stations purchased by Pitsiladis and his company do not, according to the WeatherXM explorer. WeatherXM’s native WXM token is based on Ethereum, differentiating it from Helium’s Solana-based system.

Hivemapper Enters Japanese Market

DMM Crypto, a Japanese blockchain company founded in 2023, has partnered with Hivemapper, a decentralized mapping project, to launch a new initiative in Japan. Hivemapper uses AI-powered dashcams to crowdsource real-time map data, rewarding drivers with tokens for their contributions.

This initiative aims to improve map accuracy and support industries like cab and logistics. The project has been selected by JETRO as part of a “Web3 technology x incentive grant demonstration” aimed at addressing the shortage of drivers in the cab and logistics sectors. Under JETRO’s “Subsidy Project for Inward Direct Investment Promotion,” the collaboration seeks to drive innovation and resolve key challenges in these industries.

“DMM Crypto is an exceptional organization with a proven track record in areas essential to Hivemapper’s growth. Through our partnership, we aim to highlight the transformative power of DePIN and set the gold standard for Web3 projects in the region,” Hivemapper CEO Ariel Seidman said.

Read more: Top 10 Web3 Projects That Are Revolutionizing the Industry

Hivemapper’s decentralized physical infrastructure network has already mapped over 15 million kilometers in just 20 months, surpassing conventional mapping services. Its data is available to support navigation services, home delivery, the real estate industry, and the safe operation of self-driving vehicles.

While DePIN is still in its early stages and has some flaws, it allows for the exchange of tokens between synthetic and real-world assets. This supports traditional infrastructure by providing last-mile coverage in areas where conventional models are not economically feasible.

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 ConditionsPrivacy Policy, and Disclaimers have been updated.





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Dogecoin (DOGE) Bulls In Trouble—Can They Prevent a Drop Below $0.15?

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Dogecoin started a fresh decline from the $0.1880 zone against the US Dollar. DOGE is declining and might test the $0.150 support zone.

  • DOGE price started a fresh decline below the $0.1850 and $0.1750 levels.
  • The price is trading below the $0.1750 level and the 100-hourly simple moving average.
  • There is a key bearish trend line forming with resistance at $0.170 on the hourly chart of the DOGE/USD pair (data source from Kraken).
  • The price could extend losses if it breaks the $0.1620 support zone.

Dogecoin Price Dips Further

Dogecoin price started a fresh decline after it failed to clear $0.200, like Bitcoin and Ethereum. DOGE dipped below the $0.1880 and $0.1820 support levels.

The bears were able to push the price below the $0.1750 support level. It even traded close to the $0.1620 support. A low was formed at $0.1628 and the price is now consolidating losses below the 23.6% Fib retracement level of the downward move from the $0.2057 swing high to the $0.1628 low.

Dogecoin price is now trading below the $0.1750 level and the 100-hourly simple moving average. Immediate resistance on the upside is near the $0.170 level. There is also a key bearish trend line forming with resistance at $0.170 on the hourly chart of the DOGE/USD pair.

The first major resistance for the bulls could be near the $0.1730 level. The next major resistance is near the $0.1770 level. A close above the $0.1770 resistance might send the price toward the $0.1850 resistance.

Dogecoin Price

The 50% Fib retracement level of the downward move from the $0.2057 swing high to the $0.1628 low is also near the $0.1850 zone. Any more gains might send the price toward the $0.1880 level. The next major stop for the bulls might be $0.1950.

More Losses In DOGE?

If DOGE’s price fails to climb above the $0.1770 level, it could start another decline. Initial support on the downside is near the $0.1635 level. The next major support is near the $0.1620 level.

The main support sits at $0.1550. If there is a downside break below the $0.1550 support, the price could decline further. In the stated case, the price might decline toward the $0.1320 level or even $0.120 in the near term.

Technical Indicators

Hourly MACD – The MACD for DOGE/USD is now gaining momentum in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now below the 50 level.

Major Support Levels – $0.1620 and $0.1550.

Major Resistance Levels – $0.1720 and $0.1770.



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XRP Price Fate Hangs on $2.00—Major Move Incoming?

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Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.

From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.

In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.

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Ethereum Price Weakens—Can Bulls Prevent a Major Breakdown?

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Ethereum price started another decline and traded below the $1,880 level. ETH is now consolidating and remains at risk of more losses.

  • Ethereum struggled to continue higher above the $2,000 resistance level.
  • The price is trading below $1,880 and the 100-hourly Simple Moving Average.
  • There is a connecting bearish trend line forming with resistance at $1,820 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair must clear the $1,820 and $1,880 resistance levels to start a decent increase.

Ethereum Price Dips Again

Ethereum price failed to continue higher above $2,100 and started another decline, like Bitcoin. ETH declined below the $1,920 and $1,880 support levels.

It tested the $1,765 zone. A low was formed at $1,767 and the price recently attempted a fresh upward move. There was a move above the $1,800 level but the price is still below the 23.6% Fib retracement level of the recent decline from the $2,033 swing high to the $1,767 low.

Ethereum price is now trading below $1,880 and the 100-hourly Simple Moving Average. There is also a connecting bearish trend line forming with resistance at $1,820 on the hourly chart of ETH/USD.

On the upside, the price seems to be facing hurdles near the $1,820 level. The next key resistance is near the $1,880 level and the 50% Fib retracement level of the recent decline from the $2,033 swing high to the $1,767 low. The first major resistance is near the $1,920 level.

Ethereum Price
Source: ETHUSD on TradingView.com

A clear move above the $1,920 resistance might send the price toward the $2,000 resistance. An upside break above the $2,000 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,050 resistance zone or even $2,120 in the near term.

More Losses In ETH?

If Ethereum fails to clear the $1,880 resistance, it could start another decline. Initial support on the downside is near the $1,780 level. The first major support sits near the $1,765 zone.

A clear move below the $1,765 support might push the price toward the $1,720 support. Any more losses might send the price toward the $1,680 support level in the near term. The next key support sits at $1,650.

Technical Indicators

Hourly MACDThe MACD for ETH/USD is losing momentum in the bearish zone.

Hourly RSIThe RSI for ETH/USD is now below the 50 zone.

Major Support Level – $1,765

Major Resistance Level – $1,880



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