Decentralized Physical Infrastructure Networks （DePIN） tokens are gaining attention in the current market. This article highlights five promising DePIN coins: Lumerin （LMR）, Destra Network （DSYNC）, AIOZ Network （AIOZ）, StorX Network （SRX）, and Storj （STORJ）, which are showing potential for significant gains in the coming month.
Points
- DePIN tokens are emerging as attractive assets in the current market.
- Destra Network （DSYNC） has seen a double-digit surge recently.
- Lumerin （LMR） is trading above key moving averages.
- AIOZ Network （AIOZ） is trending within an ascending channel.
- Storj （STORJ） and StorX Network （SRX） show bullish indicators.
Tokens powering Decentralized Physical Infrastructure Networks （DePIN） are becoming increasingly attractive in the current market. These cryptocurrencies incentivize the creation and maintenance of physical infrastructure on decentralized platforms. Here are five DePIN coins that show promise for gains in August 2024.
Destra Network （DSYNC） Sees Double-Digit Surge
Destra Network offers a decentralized cloud solution, and its native token, DSYNC, has risen by 33% in the past seven days. The token currently ranks among the DePIN coins with the most gains during this period. Its price movements indicate actual demand for the altcoin, evidenced by its rising Relative Strength Index （RSI）. As of now, DSYNC’s RSI is in an uptrend at 65.14, signaling strong buying pressure.
Beincrypto
If DSYNC continues to enjoy demand from market participants, its next price target is $0.36, a high it last traded at in May.
Lumerin （LMR） Trades Above Key Moving Average
Lumerin （LMR） is a foundational layer technology that uses smart contracts to control how peer-to-peer （P2P） data streams are routed, accessed, and transacted. LMR has seen a 28% price rise over the past seven days, pushing it above its 20-day exponential moving average （EMA）, indicating a hike in buying pressure.
Beincrypto
If LMR maintains its uptrend, its price is likely to climb to $0.033.
AIOZ Network （AIOZ） Trends Within an Ascending Channel
AIOZ Network operates as a decentralized platform leveraging a global network of nodes to deliver content more cheaply, quickly, and securely. The AIOZ token has increased by 22% in the past week, trading at $0.58. The token’s price has formed an ascending channel on a one-day chart, indicating a bullish pattern.
At press time, AIOZ’s Aroon Up Line shows an uptrend, suggesting strong market momentum. If this trend continues, AIOZ could rally toward resistance at $0.63.
Beincrypto
However, if the trend reverses, AIOZ may fall to $0.53.
Storj （STORJ） Flashes Buy Signal
STORJ, the native token of the open-source cloud storage platform STORJ, has flashed a buy signal based on its Market Value to Realized Value （MVRV） ratio, which measures the ratio between current price and average acquisition price. Negative MVRV values indicate that the asset is undervalued, offering a good buying opportunity.
Beincrypto
If demand increases at the current price level, STORJ’s next price target is $0.50, up from its current $0.43.
StorX Network （SRX） Climbs to Monthly High
StorX Network, another decentralized cloud storage network, has seen its token, SRX, rise by 10% in the past week, trading at $0.60. The token is at a monthly high and shows a significant bullish bias, indicated by its positive Elder-Ray Index. If the bullish trend continues, SRX’s next price target is $0.062.
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解説
- DePIN tokens are gaining traction as they support decentralized infrastructure and provide investment opportunities.
- DSYNC’s strong RSI and market demand indicate potential for further price increases.
- LMR’s movement above the 20-day EMA signals a bullish trend.
- AIOZ’s ascending channel pattern suggests a continued upward trajectory, barring trend reversals.
- STORJ’s negative MVRV ratio highlights its current undervaluation, presenting a buying opportunity.
- SRX’s bullish indicators suggest it may continue to rise, provided market conditions remain favorable.