The Rise of DePIN on Solana: Market Overview, Project Analysis, and Node Growth

In the ever-evolving landscape of blockchain technology, decentralized physical infrastructure networks (DePIN) are emerging as a hybrid force, merging real-world assets with on-chain protocols. DePIN projects are revolutionizing the way infrastructure is built and operated by distributing ownership through cryptographic incentive mechanisms.

Solana, known for its high throughput, minimal transaction fees, and composable infrastructure, is providing fertile ground for this emerging ecosystem to flourish. As Amira Valliani, Head of DePIN at the Solana Foundation, notes, "Decentralized Pinning is about to reach escape velocity. This innovative business model has proven its ability to scale physical infrastructure networks faster and cheaper in a community-driven way - and it’s all happening on Solana."

Among the many innovations in the blockchain industry, decentralized physical infrastructure networks (DePIN) are rapidly emerging as a bridge for real-world assets to be put on the chain.

Among the many innovations in the blockchain industry, decentralized physical infrastructure networks (DePIN) are rapidly emerging as a bridge for real-world assets to be put on the chain. These projects typically target markets with strong demand but inefficient supply, and they aim to revitalize idle resources (such as shared GPUs, telecommunications networks, or street map collection). Unlike the traditional infrastructure model dominated by large enterprises, DePIN distributes ownership to individuals, thereby improving efficiency, enhancing resilience, and expanding accessibility.

On the other hand, as the cryptocurrency industry matures, on-chain revenue has become a key indicator for assessing project feasibility, product-market fit, and sustainable business models.

Among the many innovations in the blockchain industry, decentralized physical infrastructure networks (DePIN) are rapidly emerging as a bridge for real-world assets to be put on the chain. These projects typically target markets with strong demand but inefficient supply, and they aim to revitalize idle resources (such as shared GPUs, telecommunications networks, or street map collection). Unlike the traditional infrastructure model dominated by large enterprises, DePIN distributes ownership to individuals, thereby improving efficiency, enhancing resilience, and expanding accessibility.

On the other hand, as the cryptocurrency industry matures, on-chain revenue has become a key indicator for assessing project feasibility, product-market fit, and sustainable business models.

Detached from the hype and narrative, on-chain data provides a neutral and verifiable view of an emerging ecosystem's real growth trajectory. This report analyzes the development status, market performance, and on-chain data of several core DePIN projects on Solana in detail. The report data is as of April 22, 2025.

Detached from the hype and narrative, on-chain data provides a neutral and verifiable view of an emerging ecosystem's real growth trajectory. This report analyzes the development status, market performance, and on-chain data of several core DePIN projects on Solana in detail. The report data is as of April 22, 2025.

Detached from the hype and narrative, on-chain data provides a neutral and verifiable view of an emerging ecosystem's real growth trajectory. This report analyzes the development status, market performance, and on-chain data of several core DePIN projects on Solana in all detail. The report data is as of April 22, 2025.

Detached from the hype and narrative, on-chain data provides a neutral and verifiable view of an emerging ecosystem's real growth trajectory. This report analyzes the development status, market performance, and on-chain data of several core DePIN projects on Solana in detail. The report data is as of April 22, 2025.

Detached from the hype and narrative, on-chain data provides a neutral and verifiable view of an emerging ecosystem's real growth trajectory. This report analyzes the development status, market performance, and on-chain data of several core DePIN projects on Solana in detail. The report data is as of April 22, 2025.

Detached from the hype and narrative, on-chain data provides a neutral and verifiable view of an emerging ecosystem's real growth trajectory. This report analyzes the development status, market performance, and on-chain data of several core DePIN projects on Solana in detail. The report data is as of April 22, 2025.

Detached from the hype and narrative, on-chain data provides a neutral and verifiable view of an emerging ecosystem's real growth trajectory. This report analyzes the development status, market performance, and on-chain data of several core DePIN projects on Solana in detail. The report data is as of April 22, 2025.

Detached from the hype and narrative, on-chain data provides a neutral and verifiable view of an emerging ecosystem's real growth trajectory. This report analyzes the development status, market performance, and on-chain data of several core DePIN projects on Solana in detail. The report data is