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5 Best DePin projects under $1bn marketcap that smart money loves

Author

Kierin M
March 30, 2024

Imagine a future where infrastructure is built with lightning speed, costs less than your morning coffee, and operates with unmatched efficiency.

This is definitely something i’m looking forward to.

That's the potential of DePin (Decentralized Physical Infrastructure), where blockchain magic and incentives fuel a new era of innovation.

In this newsletter, we'll uncover the top 5 DePin projects below $1bn market cap for 2024 and an interesting AI merger with a potential arbitrage opportunity exciting merger!

The youtube channel has been growing at a super rapid pace. Here’s the latest video i uploaded How the 2024 Bitcoin Halving Could Catapult Your Crypto Portfolio. I will also upload the video version of this newsletter in the next few days so make sure you subscribe.

Top 5 DePin Projects to Watch In 2024

  • Current Price: $0.2153

  • Market Cap: $83 million

Iagon (IAG) is on a mission to create a global supercomputer by harnessing the untapped potential of idle devices. Their biggest feature is their decentralized data storage, which I want to try.

With Iagon, you can rent out unused computing power and storage and get paid to use IAG tokens.

  • Levels to watch: $0.12 was a strong support so that would also be a good entry for the next push upwards. $0.28 is the next major resistance. A break above that would signal the continuation of the rally.

  • Current Price: $0.08127

  • Market Cap: $50 million

These guys are focused on building a decentralized network for AI computing. By connecting data and compute power from around the globe, NuNet aims to make AI more accessible and affordable for everyone.

  • Levels to watch: $0.06 and $0.05 (the two blue boxes in the chart below) align with fibonacci levels that were hit after previous rallies. It’s only available on tier C exchanges like Mexc, onchain Uniswap (Ethereum), and Minswap (Cardano).

(High risk due to contract settings)

Revolutionizing rendering and simulations with a decentralized GPU network—say goodbye to expensive hardware! This is very similar to what rendr is doing.

  • Current Price: $3.86

  • FDV Market Cap: $144m

Levels to watch: It’s pumped quite a bit, so I will be careful at the current price. It’s possible I miss the rally, but that is fine. I’d like an entry below $3. $2.76 is the first interesting level to watch, and $2.43 is the second.

Creating infrastructure for AI and machine learning for the next generation of innovation

  • Current Price: $1.80

  • Market Cap: $173 million

Levels to watch: GPU currently trades at $2.05 with major support at $1.53. The two levels i’m watching are between $1.33 and $1.53.

The Data Marketplace A decentralized platform to unlock the power of data while preserving privacy.

  • Current Price: $1.33

  • Market Cap: $810 million

Levels to watch: You might get lucky by placing some limit orders between $1.01 and $1.20 as that’s the current main support. Ocean might perform well because of the merger between the three giants. More info about that in the next section.

I’ve included io.net even though the token will most likely launch with a $2bn+ FDV valuation as i think it has serious potential.

Targeted token launch is 28th of April 24. Token ticker is $IO.

IO.net is an access layer that sits on top of the largest decentralized computing networks, such as Render and Filecoin.

It provides an easy-to-use API and interface for developers to access and rent GPUs from these networks, simplifying the process of deploying AI models and applications.

Fundamentals:

  • IO.net is an AI model training, inference, and API layer that works with Render and Filecoin's decentralized GPU networks.

  • It aggregates and simplifies access to GPUs on these networks, allowing developers to easily rent machines, view network maps, and filter for specific GPU models.

  • IO.net is built on the Solana blockchain and has an official partnership with Solana.

  • By serving as an aggregator layer for decentralized computing, IO.net aims to solve the problem of accessibility and ease of use for developers looking to leverage these networks for AI applications.

here’s a good deep dive on io.net by blockmates.

AI Merger & Arbitrage Opportunity

There’s some interesting AI news with three DePin giants, Fetch.ai (FET), SingularityNET (AGIX), and Ocean Protocol (OCEAN), are merging!

Their tokens will consolidate into a new one called $ASI.

Here's how these tokens will swap:

  • Conversion: FET has a 1:1 conversion to ASI, while AGIX and OCEAN will convert at approximately 1:0.433.

  • Opportunity: Calculate your 'target price' by multiplying FET's current price by 0.433, then compare it to live AGIX and OCEAN prices. If they trade below the target, there might be a potential buy opportunity before the merger!

This is definitely something for more advanced users, as you will probably need to buy and sell relatively fast. It’s also unclear how that new token $ASI is going to perform after the merge.

DePin isn't without its hurdles—mobile interfaces need improvement, and Web2 giants are still competing. With all these projects skyrocketing it’s super important that you set some realistic exit prices and take profits a long the way. There is a good chance that during the bear market these projects do -99% a few times even though they have good fundamentals.

Bonus Trade Idea

TIA trade idea.

Two blue buy signals appeared on the daily. Currently it’s trading at $14.78. This might perform well when the alt season picks up again.

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