{"id":6185,"date":"2026-01-30T10:15:19","date_gmt":"2026-01-30T10:15:19","guid":{"rendered":"https:\/\/cryptonews.uk.com\/?p=6185"},"modified":"2026-01-30T10:15:19","modified_gmt":"2026-01-30T10:15:19","slug":"depin-isnt-dead-its-a-10b-revenue-driven-market-messari-says","status":"publish","type":"post","link":"https:\/\/cryptonews.uk.com\/?p=6185","title":{"rendered":"DePIN Isn\u2019t Dead \u2014 It\u2019s a $10B Revenue-Driven Market, Messari Says"},"content":{"rendered":"<p><\/p>\n<div id=\"blockquote-block_48ac422eb150194241b4ecf1c2ef92ce\" class=\"blockquote-container\" style=\"border-color: #5100fc\">\n<div class=\"blockquote-text\">\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">DePIN token prices remain depressed, with most projects launched between 2018 and 2022 still trading 94% to 99% below their all-time highs.<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">On-chain revenue hit $72 million in 2025, signaling a shift toward sustainable business models with valuations now averaging a realistic 10\u201325x revenue.<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Top networks are proving real-world demand, with the sector&#8217;s $10 billion market cap increasingly driven by cost-efficient infrastructure rather than pure speculation.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<p>The vast majority of DePIN token prices are still crushed, but some networks are starting to show real business traction.<\/p>\n<p>Messari says most DePIN tokens launched in 2018\u20132022 remain 94%\u201399% below their all-time highs. That\u2019s the speculative premium evaporating.&nbsp;<\/p>\n<div id=\"blockquote-block_db0e3856d0e4e3963e3746c1b2c5e64c\" class=\"blockquote-container variant-personal\">\n<div class=\"blockquote-text\">\n<p><em>The Leading DePINs are now real, profitable, and growing onchain businesses, and they\u2019re trading at prices that imply little chance of survival, let alone success. The best DePIN tokens today provide exposure to next-gen infrastructure businesses that have proven user demand, driven by cost and speed advantages.<\/em><\/p>\n<\/div>\n<div class=\"blockquote-attribution\">\n        <img decoding=\"async\" src=\"https:\/\/cdn.cryptonews.com.au\/2026\/01\/30171544\/Messari.png\" class=\"author-image\">        Messari    <\/div>\n<\/div>\n<p>One simple look at the total market capitalisation of the DePIN sector on CoinMarketCap and they\u2019re all pretty much in deep red, not just in the past seven days, but for several months now.<\/p>\n<figure class=\"wp-block-image size-full variant-no-border\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1210\" height=\"987\" src=\"https:\/\/cdn.cryptonews.com.au\/2026\/01\/30171501\/image-27.png\" alt=\"\" class=\"wp-image-132709\" \/><figcaption class=\"wp-element-caption\">Top DePIN Tokens By Market Capitalization. Source: CoinMarketCap.<\/figcaption><\/figure>\n<div style=\"height:24px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n<h2 class=\"wp-block-heading\" id=\"h-depin-sector-still-generating-revenue\">DePIN Sector Still Generating Revenue<\/h2>\n<p>Yet the sector is still producing measurable activity. About US$10 billion (AU$15.3 billion) in circulating market cap and roughly US$72 million (AU$110 million) in on-chain revenue in 2025.<\/p>\n<p>DePIN (decentralised physical infrastructure networks) can be summarised as crypto-coordinated hardware. In them, networks pay users to deploy, operate and maintain real-world infrastructure.<\/p>\n<p><strong>Read more: Stablecoins Could Drain $500B From U.S. Banks, Standard Chartered Warns\u00a0<\/strong><\/p>\n<p>But valuations have reset hard. In 2021, some DePIN projects traded at more than 1,000x revenue. Today, the top revenue-generating networks are closer to 10\u201325x revenue. That\u2019s closer to how early-stage tech gets priced when investors care about business fundamentals and not just narratives.<\/p>\n<p><strong>Related: Australia\u2019s Regulator Trains Its Sights on Crypto\u2019s Regulatory Grey Zones<\/strong><\/p>\n<p>The post DePIN Isn\u2019t Dead \u2014 It\u2019s a $10B Revenue-Driven Market, Messari Says appeared first on Crypto News Australia.<\/p>\n<p>DePIN,Onchain#DePIN #Isnt #Dead #10B #RevenueDriven #Market #Messari1769768119<\/p>\n","protected":false},"excerpt":{"rendered":"<p>DePIN token prices remain depressed, with most projects launched between 2018 and 2022 still trading 94% to 99% below their all-time highs. On-chain revenue hit $72 million in 2025, signaling a shift toward sustainable business models with valuations now averaging a realistic 10\u201325x revenue. Top networks are proving real-world demand, with the sector&#8217;s $10 billion<\/p>\n","protected":false},"author":1,"featured_media":6186,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[1762,454,1964,210,43,1966,1965],"class_list":{"0":"post-6185","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bitcoin","8":"tag-10b","9":"tag-dead","10":"tag-depin","11":"tag-isnt","12":"tag-market","13":"tag-messari","14":"tag-revenuedriven"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.6 (Yoast SEO v26.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>DePIN Isn\u2019t Dead \u2014 It\u2019s a $10B Revenue-Driven Market, Messari Says - Crypto News: Latest Cryptocurrency News and Analysis<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptonews.uk.com\/?p=6185\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DePIN Isn\u2019t Dead \u2014 It\u2019s a $10B Revenue-Driven Market, Messari Says\" \/>\n<meta property=\"og:description\" content=\"DePIN token prices remain depressed, with most projects launched between 2018 and 2022 still trading 94% to 99% below their all-time highs. 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