One of the key challenges in past crypto cycles has been the lack of sustainable business models, with many projects relying on token speculation rather than delivering real long-term value. We think that the days of juggling tokenomics for balancing token hype without the project itself offering practical utility are coming to an end. Our DePIN thesis is cemented on the belief that the true potential of crypto lies in its integration with real-world industries such as energy, AI, IoT, and supply chains, where it can create lasting value through ownership, transparency, and meaningful applications beyond speculation.

Source: Kaito.ai – $HNT has seen an impressive >100% price increase over the past two months, with mindshare and attention focusing on the onboarding of major US cellular carriers, but potentially overlooking the relevance of Helium V3 and its impact over the long run.

Not only has $HNT been the frontrunner, but it also remains the current leader pushing the boundaries of the possibilities enabled by the DePIN sector. The most recent price move to the upside after the announcement of Helium V3 was an example of how real-world utility commands growing market attention. We expect to see an increasing number of liquid funds investing in DePIN, specifically raising DePIN-focused capital with dedicated vehicles to gain exposure. With a track record and proven revenue-driven model, $HNT is likely to represent a large share of those portfolios.