Funding Insights: A Deep Dive on DePin

Decentralized physical infrastructure network (DePin), is a concept in crypto where blockchains and token rewards are leveraged to enable physical infrastructure such as wireless networks, cloud computing, P2P storage, etc. Since its inception, DePin has become a hot narrative in the crypto space that has attracted a total of $1,914m in funding. 

Comparing DePin assets with the Top 30 Token Index, we observe that DePin assets were highly positively correlated with the mainstream market, demonstrating higher beta behavior prior to May 2022. Since then, however, the volatility of DePin tokens has diminished, resulting in more stable movement.