DePIN has become the investment target of the latest cryptocurrency venture capital obsession

Venture capitalists have pumped billions of dollars into the DePIN space, with some of them putting all their money into the DePIN protocol. Although the total market capitalization of DePIN projects has now reached tens of billions of dollars, the industry faces one of the oldest challenges in the cryptocurrency space: a relatively small number of customers. Analysts point out that DePIN projects with great potential are those with a clear and recognizable need for the underlying service, which means that customers already exist. Projects like the Helium protocol, which powers wireless networks through a token-driven ecosystem, or Filecoin's data storage platform.