Exploring DePIN Projects: 5 Promising Cryptocurrencies for Your Portfolio
Decentralized Physical Infrastructure Networks (DePIN) have gained traction as a groundbreaking sector within the crypto space. These projects focus on decentralizing and democratizing the internet’s infrastructure layer, offering potential for growth and innovation. Here are five DePIN projects with promising technical setups that could enhance your cryptocurrency portfolio:
Render (RNDR)
- Render coin (RNDR) powers the Render Network, a DePIN platform leveraging blockchain technology to connect artists with spare processing power.
- Artists can tap into unused GPU power from other computers on the network, eliminating the need for expensive equipment.
- Render’s market cap is around $3.8 billion, making it the 31st largest cryptocurrency by market capitalization.
RNDR Technical Outlook:
- Render’s price has shown resilience, rebounding from a major correction to $6 and currently trading at $10.
- The key support level is the 1D Ichimoku cloud, indicating potential for a buying opportunity if the price breaks below it.
Phala (PHA)
- Phala Network offers a blockchain-based cloud computing service focusing on privacy, allowing users to perform computations on their data without revealing it.
- Phala’s market cap hovers around $134.8 million, positioning it as the 398th largest cryptocurrency by market capitalization.
PHA Technical Outlook:
- Phala’s price has declined but if it breaks above the daily Ichimoku cloud, it could bring considerable upside potential for investors.
Nosana (NOS)
- Nosana, built on the Solana blockchain, serves as a crowd-computing platform connecting individuals with spare CPU power to projects needing computational resources.
- Users earn NOS tokens by contributing their CPU power to the network, providing a unique approach to cloud computing.
NOS Technical Outlook:
- Nosana is currently trading within the 1D Ichimoku cloud, with key support levels to monitor for potential buying opportunities.
JasmyCoin (JASMY)
- JasmyCoin fuels the Jasmy ecosystem, focusing on IoT and data control empowerment for users.
- JASMY has experienced a significant price increase, making it the 68th largest crypto by market capitalization.
JASMY Technical Outlook:
- While Jasmy has seen a surge in value, investors should be cautious of potential corrections and monitor the 4H Ichimoku cloud for entry points.
Golem (GLM)
- Golem Network disrupts traditional computing resource sharing by acting as a decentralized marketplace for computational power.
- Users can either request extra computing power or offer their unused processing power and earn GLM tokens.
GLM Technical Outlook:
- GLM is trading in a descending pattern, presenting an opportunity for long-term investors at current prices.
- Key resistance levels to watch are $0.60 and $1, marking potential bullish signals if breached.
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