Market
DePin Sector’s Challenges and Growth Opportunities Revealed

Lately, decentralized physical infrastructure networks (DePins) are strongly emerging as a crypto narrative. HashKey Capital, a blockchain investment firm, has spotlighted over 1,000 DePin projects.
These DePin projects collectively generate an impressive $14 million in annual recurring revenue. They span fields like the Internet of Things (IoT), artificial intelligence (AI), wireless coverage, and data management, aiming to democratize technology and bolster competition.
What Are the Challenges in the DePin Sector?
Despite their potential, DePin projects encounter notable obstacles. A key issue is the proliferation of similar initiatives and competition from established Web2 companies, which threatens to fragment the market and weaken the impact of new DePin entities.
“The fairly nascent DePin sector also makes it arduous to generate demand from retail consumers and Web2 enterprises who lack the awareness and trust in the reliability of the sector,” HashKey Capital wrote.
For instance, in the mapping sector, projects such as Hivemapper and Natix Network compete directly with giants like Google Maps. Moreover, capturing and retaining user interest proves challenging in a market largely unfamiliar with decentralized solutions.
Read more: What Is DePIN (Decentralized Physical Infrastructure Networks)?
To overcome these challenges, HashKey Capital recommends that DePin projects diversify their demand streams beyond the Web3 space. They should also focus on user experience as a key differentiator.
However, DePins also faces high upfront costs, complex supply chains, and stringent regulatory environments. In an interview with BeInCrypto, Daniel Wang, co-founder of Aethir, discussed the regulatory challenges of DePin.
“DePIN projects face a web of regulatory challenges, encompassing securities regulations, anti-money laundering (AML) compliance, Know-your-customer (KYC) requirements, and data privacy laws. The uncertainty extends to taxation, further complicating matters,” Wang told BeInCrypto.
He stressed the need for DePins to remain adaptable and compliant across various legal frameworks, which differ significantly by jurisdiction.
“By advocating for policies that foster innovation while ensuring adherence to local laws, DePins can thrive within a secure and innovative environment,” Wang stated.
DePin Growth Opportunities
Despite these challenges, DePins holds immense potential for transformative impact, particularly in low to middle-income countries. HashKey Capital identifies these regions as key growth areas, driven by their need for affordable and accessible infrastructure solutions. By decentralizing data management and utilizing underutilized resources, DePins can significantly reduce digital infrastructure costs.
For instance in developing countries of Africa, DePin can empower local communities by enabling individuals and businesses to monetize spare computing and storage capacities.
“DePin enables local communities to participate more fully in the digital economy and opens up new avenues for financial opportunity. Additionally, DePins facilitate the creation of a more efficient and affordable internet infrastructure. By reducing the reliance on individual data centers and promoting decentralized networks, DePINs lower costs and improve internet accessibility in underserved areas,” Wang explained.
Additionally, DePins’ flexibility allows for rapid deployment and community engagement through node sales, securing long-term community support, and raising development funds.
Looking ahead, sectors such as AI will significantly grow due to the increasing computational demands of large language models. DePins unify idle resources across a blockchain, addressing potential demand-supply mismatches and optimizing resource utilization.
Moreover, according to Statista, the IoT market is expected to surge to $1.559 trillion by year-end, with a compound annual growth rate of 10.5% from 2024 to 2029. Hence, DePins are well-positioned to capture a substantial market share.
Read more: Top 12 Crypto Companies to Watch in 2024

Indeed, by fostering user-owned economies where privacy and data control are prioritized, DePins could redefine technology consumption and governance.
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.
Market
BNB Price Faces More Downside—Can Bulls Step In?

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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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In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.
Market
VanEck Sets Stage for BNB ETF with Official Trust Filing

Global investment management firm VanEck has officially registered a statutory trust in Delaware for Binance’s BNB (BNB) exchange-traded fund (ETF).
This move marks the first attempt to launch a spot BNB ETF in the United States. It could potentially open new avenues for institutional and retail investors to gain exposure to the asset through a regulated investment vehicle.
VanEck Moves Forward with BNB ETF
The trust was registered on March 31 under the name “VanEck BNB ETF” with filing number 10148820. It was recorded on Delaware’s official state website.

The proposed BNB ETF would track the price of BNB. It is the native cryptocurrency of the BNB Chain ecosystem, developed by the cryptocurrency exchange Binance.
As per the latest data, BNB ranks as the fifth-largest cryptocurrency by market capitalization at $87.1 billion. Despite its significant market position, both BNB’s price and the broader cryptocurrency market have faced some challenges recently.
Over the past month, the altcoin’s value has declined 2.2%. At the time of writing, BNB was trading at $598. This represented a 1.7% dip in the last 24 hours, according to data from BeInCrypto.

While the trust filing hasn’t yet led to a price uptick, the community remains optimistic about the prospects of BNB, especially with this new development.
“Send BNB to the moon now,” an analyst posted on X (formerly Twitter).
The filing comes just weeks after VanEck made a similar move for Avalanche (AVAX). On March 10, VanEck registered a trust for an AVAX-focused ETF.
This was quickly followed by the filing of an S-1 registration statement with the US Securities and Exchange Commission (SEC). Given this precedent, a similar S-1 filing for a BNB ETF could follow soon.
“A big step toward bringing BNB to US institutional investors!” another analyst wrote.
Meanwhile, the industry has seen an influx of crypto fund applications at the SEC following the election of a pro-crypto administration. In fact, a recent survey revealed that 71% of ETF investors are bullish on crypto and plan to increase their allocations to cryptocurrency ETFs in the next 12 months.
“Three-quarters of allocators expect to increase their investment in cryptocurrency-focused ETFs over the next 12 months, with demand highest in Asia (80%), and the US (76%), in contrast to Europe (59%),” the survey revealed.
This growing interest in crypto ETFs could drive further demand for assets like BNB, making the VanEck BNB ETF a potentially significant product in the 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.
Market
XRP Recovery Stalls—Are Bears Still In Control?

XRP price started a fresh decline from the $2.20 zone. The price is now consolidating and might face hurdles near the $2.120 level.
- XRP price started a fresh decline after it failed to clear the $2.20 resistance zone.
- The price is now trading below $2.150 and the 100-hourly Simple Moving Average.
- There is a connecting bearish trend line forming with resistance at $2.120 on the hourly chart of the XRP/USD pair (data source from Kraken).
- The pair might extend losses if it fails to clear the $2.20 resistance zone.
XRP Price Faces Rejection
XRP price failed to continue higher above the $2.20 resistance zone and reacted to the downside, like Bitcoin and Ethereum. The price declined below the $2.150 and $2.120 levels.
The bears were able to push the price below the 50% Fib retracement level of the recovery wave from the $2.023 swing low to the $2.199 high. There is also a connecting bearish trend line forming with resistance at $2.120 on the hourly chart of the XRP/USD pair.
The price is now trading below $2.150 and the 100-hourly Simple Moving Average. However, the bulls are now active near the $2.10 support level. They are protecting the 61.8% Fib retracement level of the recovery wave from the $2.023 swing low to the $2.199 high.
On the upside, the price might face resistance near the $2.120 level and the trend line zone. The first major resistance is near the $2.150 level. The next resistance is $2.20. A clear move above the $2.20 resistance might send the price toward the $2.240 resistance. Any more gains might send the price toward the $2.2650 resistance or even $2.2880 in the near term. The next major hurdle for the bulls might be $2.320.
Another Decline?
If XRP fails to clear the $2.150 resistance zone, it could start another decline. Initial support on the downside is near the $2.10 level. The next major support is near the $2.0650 level.
If there is a downside break and a close below the $2.0650 level, the price might continue to decline toward the $2.020 support. The next major support sits near the $2.00 zone.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is now gaining pace in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level.
Major Support Levels – $2.10 and $2.050.
Major Resistance Levels – $2.120 and $2.20.
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