91.4K @DamiDefi Top 10 DePIN Tokens by Revenue (30d Annualized)Real revenue. Real usage.
Here's who's actually generating cash:
$HNT : $21M
$IO : $7.6M
#SN64 : $5.9M
$GEOD : $4.9M
$BTRST : $3.0M
$HONEY : $2.5M
$AKT : $1.9M
$GRASS : $1.8M
$RENDER : $1.4M
$FIL : $1.4M
$HNT is dominating DePIN revenue by nearly 3x the next competitor.
DePIN isn't just a narrative, these projects are generating REAL revenue from decentralized infrastructure.
𝘋𝘢𝘵𝘢 : 𝘈𝘴 𝘱𝘦𝘳 𝘓𝘶𝘯𝘢𝘳𝘊𝘳𝘶𝘴𝘩
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133.3K @GEODNET It's crystal clear what sustainable DePIN looks like right now. Frontier still wide open.
15.7K @KryptoInsider1 Just read the State of DePIN 2025 report by @MessariCrypto .
It clearly supports the point I’ve been making for a long time.
Yes, prices are ugly.
Most tokens are down 90%+ from highs. But that's the trap.
The gap between perception and reality is wild.
Perception:
DePIN is dying
Reality:
• $10B sector
• $72M onchain revenue
• Supply constrained networks
• Real users, real payments
People judge DePIN with a 2021 mindset: pre-revenue, heavy inflation, speculation driven.
Two examples that prove it:
@helium : Millions of daily users through carrier partnerships. Your phone is probably using their network right now without you knowing.
@GEODNET : Centimeter-level GPS for agriculture and robotics. Paying enterprise customers. Revenue directly burns tokens.
These aren't crypto experiments anymore.
They're infrastructure companies with crypto rails.
The report is honest about the physics:
You can't build infrastructure without capital.
Only 3 paths survive:
1. InfraFi with stablecoin capital
2.
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464.8K @MessariCrypto 
7.2K @dylangbane Introducing the DePIN Leaders Index.
Much of the fate of DePIN lies with these 16 leading protocols.
We make the bull and bear cases for each of them in this year’s no nonsense State of DePIN. https://t.co/Pfjd1VFzTV
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