Top 5 tokens of the DePIN segment
The growing number of blockchain platforms created for various tasks has led to the emergence of a sector called Decentralized Physical Infrastructure Networks (DePINs). A DePIN is any decentralized network that links physical resources, such as GPUs or communication networks, to blockchain and tokenized assets.
1. Bittensor (TAO)
The Bittensor team has developed a blockchain platform that serves as a decentralized marketplace for artificial intelligence (AI) — based product developers. The Bittensor ecosystem is designed so that each participant can contribute to the development of AI and machine learning.
In August 2024, cryptocurrency company Phoenix Group recognized the Bittensor platform as a leader among DePIN projects for social engagement. According to some reports, the services provided by Bittensor are already being used by major companies such as IBM, Google, and Microsoft, cementing the project's status as a leading DePIN platform.
As of March 2025, Bittensor is the leader in capitalization among DePIN projects and is among the top 50 cryptocurrencies.
2. Render (RNDR)
The Render team has developed a decentralized platform for renting and leasing the computing power of graphics processing units (GPUs).
With Render, users can collectively provision unused GPU computing resources, earning rewards in RNDR tokens. Companies can rent computing resources for their own graphics tasks, such as rendering.
As of March 2025, Render is the second most capitalized cryptocurrency in the DePIN segment after Bittensor and is among the top 50 cryptocurrencies by the same measure.
3. Filecoin (FIL)
This project is one of the pioneers of the crypto industry: the leading Filecoin network was launched in October 2020. Filecoin developers introduced a decentralized network for data storage. Some users can provide unoccupied disk space on their devices, receiving native FIL tokens as a reward, while others can use this space to store their files.
In this way, Filecoin is an alternative to centralized services that provide cloud storage services such as Amazon Web Services, Google Cloud Platform (GCCP), and Microsoft Azure.
As of March 2025, Filecoin is marginally behind the Render project in capitalization, ranking 3rd in the DePIN segment and 47th in the overall cryptocurrency ranking according to CoinMarketCap.
4. Theta Network (THETA)
The Theta Network is a decentralized video streaming and delivery platform. It serves as a decentralized counterpart to media services YouTube and Twitch.
Users and companies can provide Theta Network with free computing resources and memory to process, store, and transmit streaming video, receiving rewards in THETA tokens. It is known that major companies such as Google, Samsung, and Sony have already joined the Theta Network ecosystem. The cooperation aims to develop the Theta Network platform and expand its user base.
As of March 2025, Theta Network ranks 4th among DePIN projects and 67th overall among cryptocurrencies by capitalization.
5. The Graph (GRT)
The Graph has become one of the key DePIN projects, providing a decentralized protocol for indexing and querying data on the blockchain. The Graph platform is designed to simplify the handling of large amounts of data and has been dubbed the "Google for blockchain ecosystems."
While The Graph can't boast of having such large partners as Bittensor and Theta Network, the project works closely with well-known crypto platforms such as Chainlink and Uniswap.
As of March 2025, The Graph is one of the top five DePIN projects and is ranked 71st in market capitalization among all cryptocurrencies. With a market capitalization of $1.01 billion, the GRT token is slightly behind THETA.
Conclusion
As of March 2025, the DePIN market size reached $18.2 billion — this sector has become one of the fastest growing in the crypto industry. It is worth noting that different countries and companies are already planning to implement several DePIN-related initiatives:
- The White House will be looking at alternative decentralized physical infrastructures to develop the AI sector;
- Major telecom companies are planning to expand their Carrier Offload program in conjunction with DePIN;
- Starlink plans to integrate DePIN projects with its satellite broadband systems.
Experts predict that the most significant growth and adoption of DePIN projects will shortly occur in the energy and wireless communications sectors. According to some estimates, the DePIN market could reach $3.5 trillion as early as 2028.