Messari: DePIN market has grown to $10B, defying extinction predictions

Blockchain analytics firm Messari has assessed that the Decentralized Physical Infrastructure Network (DePIN) market has grown to an estimated $10 billion, contrary to predictions that it would eventually disappear, according to a report cited by Cointelegraph. Messari noted that the DePIN market generated $72 million in on-chain revenue last year. The firm explained that while DePIN tokens launched between 2018 and 2022 have fallen approximately 94% to 99% from their all-time highs, major projects continue to generate consistent revenue. This suggests that the tokens are undervalued relative to the projects' fundamentals.