Helium (HNT), Bittensor (TAO), and Render (RENDER) Are the Top DePIN Coins to Watch

Decentralized Physical Infrastructure Networks (DePIN) are the top trending crypto narratives to explore in the crypto landscape. Many enthusiasts

Decentralized Physical Infrastructure Networks (DePIN) are gaining traction in the crypto market, offering a diverse range of real-world applications. Among the top DePIN coins above $1 Billion are Helium (HNT), Bittensor (TAO), and Render (RENDER).

Helium (HNT) is making waves in the telecommunications sector with its Web3-powered wireless internet service. Launched in 2023, Helium Mobile has strengthened its position and boosted investor confidence, driving the HNT price northward.

Currently ranked 59th in the crypto landscape, HNT boasts a market cap of $1.130 Billion. Amid the rising trend, HNT is up by 11%, reflecting high bullish interest. Its 24-hour trading volume surged by 206% to $29.699 Million.

After breaking out of a declining channel over the past 50 days, HNT has gained over 140%. At press time, it was trading at $7.019.

Beginning in the last quarter of 2023 and continuing into the first quarter of 2024, HNT price action experienced a massive and robust northward run. It propelled the asset price to a peak of $11.160, surging from a low of $1.410.

Following a price breakout on July 15th from the upper border of a falling wedge, HNT price encountered resistance at $7.08. However, it managed to remain within the upper portion of the wedge pattern.

Based on recent performance, HNT has recorded a gain of 32% this month. With increasing bullish interest, the price seems optimistic for further growth.

Bittensor (TAO) is another promising DePIN project, aiming to revolutionize the decentralized computing landscape. The Bittensor teams are working really hard, and the projects they are developing are astonishing. They have built products that are already available for many people to try. The products such as, Corcel, tradewithdale, and Bettensor.

With a spot volume inflow of $75.416 Million and a market cap valued at $2.475 Billion, Bittensor (TAO) saw a liquidity-driven price surge. The advancement from the August 5th liquidity grab re-positioned TAO status as the 33rd largest crypto globally by market cap.

After entering a bear market in March 2024, TAO price encountered a crucial technical formation on the longer time frame. It began to form a bullish pattern after a H2 2023 to Q1 2024 uptrend that faced a hurdle at $755.02.

This turned out to be a falling wedge after the price breakout on July 15th from the upper border.

Bittensor (TAO) has delivered extraordinary returns to investors, soaring over 1600% and reaching a peak of $755.02 between the last quarter of 2023 and the first quarter of 2024.

However, beyond $755.02, it became a supply zone, restricting TAO’s gains, resulting in a retracement of more than 70% by the second quarter of 2024. This led to a significant profit-taking phase, eventually returning to its initial demand level by July 5th.

Subsequently, the price saw a brief increase after July 5th, reaching the upper edge of a falling wedge pattern. Despite this, it encountered a hurdle at $358.58, causing another fall.

On August 5th, TAO’s liquidity-driven spike led to a breakout from the upper boundary of the falling wedge, and now TAO struggles near $358.58.

Therefore, surpassing the current hurdle, the short-term outlook exhibits the potential for price to go northward if the declining wedge pattern proves legitimate.

Render (RENDER) is a decentralized GPU cloud rendering platform that recently underwent a rebranding update from RNDR to RENDER. It focuses on decentralizing GPU cloud rendering. It primarily functions by linking those required for rendering services with the owners of high-performance GPUs. That makes the process simpler on the cloud by easy access to services, swift compared to other solutions, and more cost-effective.

2024 showed a northward recovery in the RENDER price by the first quarter but displayed a decline due to a giant sell-off from the YTD all-time high (ATH) of $13.62. Now, the price attempted to advance after reforming the previous demand zone of $4.7.

The RENDER price traded near $6.13 at press time, with a market cap of $2.402 Billion. By

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