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Not a Meme! DePIN Can Take Crypto Mainstream
For years, the crypto market has thrived on speculation, where excitement, hype and fleeting trends attract value instead of fundamentals. Investors have continually poured money into tokens fueled by viral moments, chasing rapid gains. Time and again, a select few of these investments soar to incredible heights, only to come crashing down. With over 33 million tokens in circulation, the competition to attract attention gets harder and harder and investor attention is ever more fleeting. But DePIN can change this. With compelling businesses attracting real customers and revenue built on well designed token economics, DePIN can set a new standard of fundamentals in crypto. As our DePIN Token Economics Report outlines, Decentralized Physical Infrastructure Networks (DePIN) offer a number of compelling businesses with fundamental value. Unlike typical crypto projects driven by speculation, DePIN offers a different approach. It uses blockchain technology to support real-world infrastructure, creating tangible value and generating real revenue. Instead of relying on hype, it builds a financial system based on actual demand, making it a more sustainable and practical model. Rather than resembling major crypto networks like Bitcoin or Ethereum, DePIN operates more like capital-light marketplaces such as Uber and Airbnb, but with key distinctions. While both models connect providers with customers without funding infrastructure, DePIN providers are compensated in tokens that can appreciate in value, akin to Uber drivers or Airbnb hosts receiving equity. Additionally, most DePINs sell to businesses which eliminates the need for massive marketing expenses required in building a consumer brand. DePIN offers a compelling business model and, unlike memes that come and go, it is the beginning of crypto’s transformation into a mature, revenue-generating industry. From Hype to Revenue-Driven Models At its core, DePIN represents a paradigm shift. Traditionally, blockchain-based businesses have relied on hype to attract buyers. In the absence of traditional fundamentals, the industry cycled through endless metrics such as TPS, TVL, Telegram channel size, followers on X and many others. Many projects have attempted to build decentralized ecosystems. But, without real customers paying for services, they have largely functioned as economies fueled by speculation rather than external demand. DePIN changes this by integrating blockchain technology with physical and digital infrastructure, creating compelling services that generate revenue. Whether it is decentralized cloud computing, wireless networks, mapping or storage solutions, DePIN projects offer services like traditional businesses and with customers who pay for usage. When combined with the correct token economics, it creates a sustainable financial model. As DePIN generates growing revenue, it is likely to draw institutional investors who have long been skeptical of crypto’s reliance on hype and speculation. The projects that successfully correlate the token demand to actual business growth will not only survive the current market but also set the standard for the next generation of blockchain companies The report also highlights one of the most compelling aspects of DePIN, the use of buy-and-burn , which removes the need to have an expanding pool of new buyers. Instead, these projects use a portion of their revenue to repurchase and burn tokens, permanently reducing supply and potentially driving long-term price appreciation similar to stock buybacks. This approach is in stark contrast to most of crypto which relies on new buyers to sustain and grow their value.The buy-and-burn model ensures that as DePIN businesses grow and generate more revenue, their token ecosystems become more resilient to market fluctuations. Some DePIN tokens are already demonstrating this by decoupling from broader crypto market trends, proving that real-world adoption can lead to price stability and long-term investor confidence. Aligning Incentives for Sustainable Growth While DePIN offers significant potential, it also comes with challenges. One major concern is transparency, as most projects lack traditional financial reports, audits, or clear revenue statements. However, blockchain itself provides a solution — on-chain verification through buy-and-burn mechanisms allows for real-time financial tracking, giving investors a clearer picture of a project’s health. Another challenge is customer adoption. Many businesses and consumers remain concerned due to crypto’s volatility. To address this, DePIN projects are introducing fiat payment options and stablecoin rewards, making it easier for everyday users to interact with these decentralized services without needing prior crypto or Web3 experience. For DePIN to succeed, its incentive structures must be designed to keep all stakeholders — providers, users, and investors aligned. One way to achieve alignment is through staking mechanisms, especially in cloud-based networks where service providers lock up tokens as collateral to guarantee reliability. Projects like Filecoin and Fluence already use this approach, ensuring accountability while strengthening network security. Others, such as Render and Livepeer, take a different route by distributing a share of network revenue to token stakers, creating a system similar to dividends that rewards long-term commitment. Governance will also be critical as DePIN projects decentralize. To prevent large token holders from short-term profiteering for quick gains, new governance models like quadratic voting and weighted staking are emerging. These frameworks help keep decision-making balanced, ensuring that projects remain sustainable and fair as they evolve. DePIN isn’t just another blockchain investment vehicle, it is laying the foundation for real, decentralized infrastructure. While meme coins have shown that crypto can generate hype, they rarely create lasting value. In contrast, DePIN is developing businesses that can compete with centralized companies by focusing on real-world utility. With token models backed by revenue, deflationary supply mechanics, and increasing interest from institutional investors, DePIN is redefining how blockchain networks should function. The projects that successfully address capital efficiency, align incentives, and navigate regulatory challenges will be the ones that lead this next phase of decentralized technology. As DePIN matures, its token models will continue to evolve. Optimizing capital efficiency through transparent buy-and-burn rates will ensure liquidity while maintaining long-term value. Governance structures will adapt to prevent short-term actors from derailing network growth. By 2026, DePIN will be recognized as the benchmark for sustainable blockchain economies, proving that crypto can function as more than a speculative asset class. The crypto industry stands at a crossroads. Investors, developers, and institutions must choose between supporting unsustainable token models or supporting projects that create real value. For the space to mature, it needs to move beyond pure speculation, and DePIN is at the forefront of that transformation.

2025-04-03 22:38
TON's Dramatic Volatility Signals Market Uncertainty
Market Recovery Amid Institutional Confidence The cryptocurrency market remains in turbulent territory as Toncoin (TON) demonstrates both significant volatility and remarkable resilience. After forming a head-and-shoulders pattern with strong resistance at $4.15, TON has recovered from its recent lows. It is now trading at $4.13 with a 12.5% weekly gain. This recovery comes amid news that leading venture capital firms, including Sequoia, Ribbit Capital, and Benchmark, collectively hold over $400 million in TON, signaling institutional confidence in the blockchain's future. TON Technical Analysis Highlights Price action formed a head-and-shoulders pattern with resistance at $4.15 and support at $3.60. The support level at $3.60 was breached during the April 3rd selloff. Volume analysis shows distribution phases coinciding with price peaks, suggesting institutional profit-taking. Fibonacci retracement indicates potential stabilization around the 0.618 level at $3.58. Cup-and-handle formation appeared during recovery with initial resistance at $3.58. Strong buying pressure was observed during the 15:32-15:34 and 15:58 periods. Price reclaimed the Fibonacci 0.382 level at $3.59, suggesting potential continuation toward $3.65. Disclaimer: This article was generated with AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards . For more information, see CoinDesk’s full AI Policy . This article may include information from external sources, which are listed below when applicable. TheNewsCrypto, “ Toncoin (TON) Eyes $4 as Bullish Momentum Builds ,” accessed April 3, 2025 CryptoNews, “ Is This the Next Solana? Toncoin’s $400 Million VC Investment Surge Signals Explosive Upside ,” accessed April 3, 2025 CryptoDaily, “ AI Predicts 12,500% Gains for Remittix (RTX), 232% for Chainlink (LINK) — But to Sell Toncoin (TON), Shiba Inu (SHIB) Fast ,” accessed April 3, 2025 TheNewsCrypto, “ Toncoin (TON) Price Prediction ,” accessed April 3, 2025 Bitcoin Sistemi, “T op Crypto Platforms: Binance Coin, BlockDAG, Tron, Toncoin Poised for Major Growth in 2025 ,” accessed April 3, 2025

2025-04-03 21:17
Crypto-Friendly Prime Broker Hidden Road in Active Takeover Talks: Sources
Hidden Road, a prime broker that focuses on both crypto and traditional assets, has received an inbound takeover approach, according to two people with knowledge of the matter. Takeover talks are ongoing with a crypto native company that wants to acquire Hidden Road, the people said, but there is no certainty that any deal will be done. Hidden Road declined to comment. The company has raised about $50 million in the last 12 months, from investors including crypto venture capital firm Dragonfly Capital, one of the people said. One of the investors, a crypto native firm, has since made an approach to buy Hidden Road, the person added. Dragonfly Capital didn't respond to a request for comment by publication time. Prime brokers are an essential part of the plumbing of financial markets. They provide trading, financing and custody services to large institutions. Hidden Road raised $50 million in a Series A funding round in July 2022. The round was led by Castle Island Ventures, with participation from Citadel Securities, FTX Ventures, Uncorrelated Ventures, Greycroft, XBTO Humla Ventures, Wintermute, SLN Capital, Profluent Trading, Coinbase Ventures and Corner Capital. The company was said to be weighing options including a potential sale or capital raise that could value the firm at more than $1 billion, according to a Bloomberg report last month.

2025-04-03 21:10
Dogecoin Volatility Surge: From Stability to Dramatic Decline
Recent Price Action Shows Signs of Recovery In the last 100 minutes of trading, DOGE has demonstrated a notable recovery pattern, climbing from a local bottom of $0.156 to stabilize around $0.158. The price action shows an apparent V-shaped recovery with significant volume spikes (16-21 million) during the bottoming process around 14:50-14:52, indicating strong buyer interest at support levels. The $0.158-$0.159 zone has emerged as immediate potential resistance, with multiple tests showing decreasing selling pressure. This recovery aligns with the 38.2% Fibonacci retracement level from the recent decline, suggesting potential continuation toward the 50% retracement at $0.160 if current momentum persists. Dogecoin Technical Indicators Price Range: DOGE traded between $0.179–$0.156, representing a 12.7% swing. Volatility: 48-hour annualized volatility reached 86.3%, significantly above market norms. Support/Resistance: Breakdown of $0.165 support level with new critical support zone at $0.158–$0.160. Fibonacci Levels: Potential stabilization at the 61.8% retracement level ($0.162). Volume Analysis: High-volume selling pressure followed by significant volume spikes (16–21 million) during recovery. Recovery Pattern: V-shaped recovery from $0.156 to $0.158 with decreasing selling pressure at resistance. Retracement Levels: Current price action aligns with 38.2% Fibonacci retracement with the potential move toward a 50% level at $0.160. Disclaimer: This article was generated with AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards . For more information, see CoinDesk’s full AI Policy . This article may include information from external sources, which are listed below when applicable. External References: Times Tabloid, “ Dogecoin (DOGE) Next Significant Rally? 7 Critical Levels to Watch ,” accessed Apr. 3, 2025 Bitzo, “ Market Weakness Strikes: Are DOGE, SHIB Set to Recover in April? ” accessed Apr. 3, 2025 Times Tabloid, “ Dogecoin (DOGE) at a Critical Turning Point as Key Levels Dictate Its Next Move ,” accessed Apr. 3, 2025 Coinpedia, “ Will Dogecoin (DOGE) Crash or Skyrocket?, ” accessed Apr. 3, 2025 Finbold, “ Anxiety Grips Dogecoin Holders as Major Sentiment Flips Into Bear Territory, ” accessed Apr. 3, 2025

2025-04-03 19:56
Luxor’s Aaron Forster on Bitcoin Mining's Growing Sophistication
Luxor Technology wants to make bitcoin mining easier. That’s why the firm has rolled out a panoply of products (mining pools, hashrate derivatives, data analytics, ASIC brokerage) to help bitcoin miners, large and small, develop their operations. Aaron Forster, the company’s director of business development, joined in October 2021, and has seen the team grow from roughly 15 to 85 people in the span of three and a half years. Forster worked a decade in the Canadian energy sector before coming to bitcoin mining, which is one of the reasons why he’ll be speaking about the future of mining in Canada and the U.S. at the BTC & Mining Summit at Consensus this year, May 14-15. In the lead-up to the event, Forster shared with CoinDesk his thoughts on bitcoin miners turning to artificial intelligence, the growing sophistication of the mining industry, and how Luxor’s products enable miners to hedge various forms of risk. This interview has been condensed and edited for clarity. Mining pools allow miners to combine their computational resources to have higher chances of receiving bitcoin block rewards. Can you explain to us how Luxor’s mining pools work? Aaron Forster: Mining pools are basically aggregators that reduce the variance of solo mining. When you look at solo mining, it's very lottery-esque, meaning that you could be plugging your machines in and you might hit block rewards tomorrow — or you might hit it 100 years from now. But you're still paying for energy during that time. At a small scale, it’s not a big deal, as you scale that up and create a business around it. The most common kind of mining pool is PPLNS, which means Pay-Per-Last-N-Shares. Basically, that means the miner does not get paid unless that mining pool hits the block. That's also due to luck variance, so it’s no different from that solo miner’s situation. However, that creates revenue volatility for those large industrial miners. So we’re seeing the emergence of what we call Full-Pay-Per-Share, or FPPS, and that's Luxor is operating for our bitcoin pool. With FPPS, regardless of whether we find a block or not, we're still paying our miners their revenue based on the number of shares they've submitted to the pool. That gives revenue certainty to miners, assuming hashprice stays the same. We've effectively become an insurance provider. The problem is that you need a very deep and strong balance sheet to support that model, because while we've reduced the variance for miners, that risk is now put on us. So we need to plan for that. But it can be calculated over a long enough period of time. We have different partners in that regard, so that we don't bear the full risk from our balance sheet. Tell me about your ASIC brokerage business. We’ve become one of the leading hardware suppliers on the secondary market. Primarily within North America, but we've shipped to 35+ countries. We deal with everybody from public companies to private companies, institutions to retail. We're primarily a broker, meaning we match buyer and seller, mostly on the secondary market. Sometimes we do interact with ASIC manufacturers, and in certain cases we do take principal positions, meaning we use money from our balance sheet to purchase ASICs and then resell them on the secondary market. But the majority of our volume comes from matching buyers and sellers. Luxor also launched the first hashrate futures contracts. We’re trying to push the Bitcoin mining space forward. We’re a hashrate marketplace, depending on how you look at our mining pools, and we wanted to take a big leap and take hashrate to the TradFi world. We wanted to create a tool that allows investors to take a position on hashprice without effectively owning mining equipment. Hashprice is, you know, the hourly or daily revenue that miners get, and that fluctuates a lot. For some people it’s about hedging, for others it’s speculation. We’re creating a tool for miners to sell their hashrate forward and use it as a basic collateral or a way to finance growth. We said, ‘Let's allow miners to basically sell forward hashrate, receive bitcoin upfront, and then they can take that and do whatever they need to do with it, whether it's purchase ASICs or expand their mining operations.’ It’s basically the collateralization of hashrate. So they're obligated to send us X amount of hashrate per month for the length of the contract. Before that, they'll receive a certain amount of bitcoin upfront. There’s a market imbalance between buyers and sellers. We have a lot of buyers, meaning people and institutions wanting to earn yield on their bitcoin. What you’re lending your bitcoin at is effectively your interest rate. However, you could also look at it like you're purchasing that hashrate at a discount. That's important for institutions or folks that don't want physical exposure to bitcoin mining, but want exposure to hash price or hashrate. They can do that synthetically through purchasing bitcoin and putting it into our market, effectively lending that out, earning a yield, and purchasing that hashrate at a discount. What do you find most exciting about bitcoin mining at the moment? The acceptance and natural progression of our industry into other markets. We can't ignore the AI HPC transition. Instead of building these mega mines that are just massive buildings with power-dense bitcoin mining operations, you're starting to see large miners turning into power infrastructure providers for artificial intelligence. Using bitcoin mining as a stepping stone to a larger, more capital intensive industry like AI is exciting to me, because it kind of gives us a bit more acceptance, because we’re coming at it from a completely different angle. I think the biggest example is the Core Scientific-CoreWeave deal structure , how they've kind of merged those two businesses together. They're complimentary to each other. And that's really exciting. When you look at our own product roadmap, we have no choice but to follow a similar roadmap to bitcoin miners. A lot of the products that we built for the mining industry are analogous to what is needed at a different level for AI. Mind you, it's a lot simpler in our industry than in AI. We’re our first step into the HPC space, and it’s still very early days there.

2025-04-03 19:44
Investment Firm Republic to Acquire Crypto Trader INX Digital for Up to $60M
Investment company Republic is set to acquire crypto trading firm INX Digital (INXDF) at a valuation of up to $60 million. Republic subsidiary Republic Strategic Acquisition will acquire all issued and outstanding shares of INX, according to an announcement on Thursday . The transaction is expected to close within eight months, subject to closing conditions. Already an existing shareholder in INX after acquiring a 9.5% stake in 2023 , Republic will integrate itself fully in INX's operations following completion of the transaction. New York-based Republic said the acquisition will strengthen its position as a blockchain investor, creating a pathway for trading tokens and engaging in secondary market opportunities across crypto and real-world assets (RWAs). Having opened at $0.02, INXDF's shares spiked to $0.16 following Thursday's announcement before retreating to $0.09 in the following few hours.

2025-04-03 19:41
WisdomTree Expands Institutional Tokenized Fund Platform to Arbitrum, Avalanche, Base and Optimism
Asset management firm WisdomTree (WT) is moving deeper into asset tokenization with expanding its institutional investment platform, WisdomTree Connect , to include 13 tokenized funds across five blockchain networks, the company said on Thursday. Previously limited to Ethereum, the platform now supports Arbitrum, Avalanche, Base and Optimism. Investors can interact with the funds through U.S. dollar or Circle's USDC stablecoins, with holdings accessible in third-party and self-custodial wallets. With these additions, WisdomTree Connect now claims the bragging rights of offering "the most extensive suite of tokenized real-world assets (RWA) available to institutions," a spokesperson said. The suite includes a tokenized money market fund, equity index funds, fixed income funds and asset allocation funds. The money market fund, WisdomTree Government Money Market Digital Fund (WTGXX), offers exposure to short-term government securities. Equity index funds such as WisdomTree 500 Digital Fund (SPXUX) and WisdomTree Technology & Innovation 100 Digital Fund (TECHX) track major stock market indices. The fixed income segment includes offerings tied to various Treasury durations and inflation-protected securities. The offerings are registered with the Securities and Exchange Commission (SEC) under the Investment Company Act of 1940. Asset tokenization is gaining traction among asset managers as they increasingly place traditional financial instruments on blockchain rails to pursue operational gains. It's a rapidly growing sector with the potential to become a trillion-dollar market as all kinds of real-world assets (RWAs) including real estate, bonds, credit move on-chain.

2025-04-03 19:38
USDC Navigates Global Market Stress With Minimal Volatility
USDC at Center of Major Financial Developments Global economic tensions and shifting trade policies are creating subtle ripples in the stablecoin market, with USDC experiencing minor volatility while maintaining its dollar peg. The stablecoin recently navigated a brief dip below parity before quickly recovering, demonstrating resilience amid broader market uncertainty as investors seek safe havens during geopolitical instability. Circle's IPO filing has revealed unprecedented insights into the stablecoin ecosystem, including the surprising arrangement where Coinbase receives half of USDC reserve revenue. With major banks JPMorgan and Citibank backing Circle's public offering targeting a $4-5 billion valuation, the move signals growing institutional confidence in regulated stablecoins despite ongoing trade disputes affecting traditional markets. As geopolitical tensions escalate, exchanges like Binance are reporting record stablecoin deposits, with USDC playing a crucial role in derivative trading markets. The stablecoin's stability has made it particularly attractive during recent market volatility, with trading volumes peaking during transition phases as investors seek protection from economic fallout related to international trade conflicts. USDC Technical Analysis Highlights USDC maintained a narrow trading range of 0.000829 (0.083%) with an annualized volatility of 1.58%. Price action showed a gradual decline from 1.0006 to sub-parity levels around March 31st. A clear support zone formed at 0.9999, with trading volumes peaking during the transition phase. Recent price action shows a modest recovery trend with increasing buying pressure. Higher lows and consistent volume patterns above 50M units hourly suggest renewed confidence. A brief dip below parity (0.9999) between 09:53-09:57 marked the first sub-parity trades during the session. Increased trading volumes peaked at 4.1M units at 09:56 during volatility Buyers stepped in decisively to defend the peg, resulting in a stabilization of around 1.0000. Disclaimer: This article was generated with AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards . For more information, see CoinDesk’s full AI Policy . This article may include information from external sources, which are listed below when applicable. External References: Cryptopolitan, “ Binance Draws In a Record Inflow of Stablecoins ,” accessed Apr. 3, 2025 CryptoNews, “ Coinbase Receives 50% of Circle’s USDC Reserve Revenue, IPO Filing Reveals ,” accessed Apr. 3, 2025 BitcoinWorld, “ Circle IPO Eyes $5B Valuation Backed by USDC Stability ,” accessed Apr. 3, 2025 CryptoNews, “ Stablecoin Issuer Circle Files for IPO ,” accessed Apr. 3, 2025 The Coin Rise, “ Circle Files for NYSE Listing Amid Surging Stablecoin Revenue: Details ,” accessed Apr. 3, 2025

2025-04-03 19:24
Bitcoin Nears $80K but 'Turning Point' in Sight, Suggests Analyst
Down more than 5% since President Trump's tariff announcement on Wednesday evening sent markets plunging, bitcoin (BTC) once again is disappointing bulls who have touted its store-of-value properties or potential as a non-correlated safe haven to risk assets like stocks. Or not. "This moment feels like a turning point," said Joel Kruger, LMAX Group market strategist. "We see market participants increasingly drawn to [BTC's] appeal as a store-of-value asset and a compelling diversification tool amid the uncertainty." Kruger noted that while the Nasdaq and S&P 500 have each tumbled to new 2025 lows, bitcoin for the moment is holding well above its year-to-date bottom of $75,000 — what technicians like to call "higher lows." But Javier Rodriguez Alarcon, chief commercial officer at crypto exchange XBTO, believes otherwise. “Despite talk that bitcoin could act as a hedge against dollar-centric volatility, in practice we’re still seeing a strong correlation between digital assets and broader risk markets in moments of uncertainty,” the ex-Goldman Sachs executive said in an email. Gold still the preferred safe haven at JPMorgan "Bitcoin's volatility and correlation with equities raises questions over its 'digital gold' narrative," said Nikolaos Panigirtzoglou and team at JPMorgan yesterday. "We see gold continuing to rise as the major beneficiary of the debasement trade," they added. Even with bitcoin's recent pullback, the price is still above the bank's estimated average cost of production of $62,000, a metric which has acted as a lower boundary in the past, wrote Panigirtzoglou. Gold today is lower by just 1.25% to $3,126 per ounce and within close sight of its record high of around $3,200.

2025-04-03 19:22

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