Top 5 DePin Coins to Consider for Your Portfolio in July 2024

Decentralized physical infrastructure networks (DePin) are participatory networks in which individuals contribute physical infrastructure resources required in various domains. Providers of these infrastructure services are incentivized via the network’s native tokens through a rewards-based system.

BePro, XYO (XYO), Matrix AI Network (MAN), OriginTrail (TRAC), and Marlin (POND) are some of the DePIN tokens that promise gains in the coming month.

BePro (BEPRO) rebounds from year-to-date low

Described as a task-based marketplace, BePro is powered by its BEPRO token, the value of which plunged to a year-to-date low of $0.00055 on June 18.

Since then, its price has rebounded. The altcoin is currently trading at $0.00067. BEPRO’s value has jumped 20% in the last seven days.

The price rise is supported by demand from market participants. Readings from the BEPRO accumulation/distribution line confirm this. It has increased steadily with the price of the token in recent days.

Learn more: What is DePIN (Decentralized Physical Infrastructure Networks)?

This metric measures the cumulative flow of money into and out of an asset. When it increases, it means there is more buying pressure than selling pressure in the market.

If this trend continues, BEPRO’s value could rise to trade at $0.00068.

However, if the bears regain control and force a downtrend, its price will drop to $0.00065.

XYO (XYO) climbs to double digits

Designed to revolutionize the way data is collected and used in the physical world, XYO is a collaborative network where its providers collect and verify real-world data.

The value of its native token XYO has increased by double digits in the past week. Currently, the token is trading at $0.0066, having seen a price growth of 18% in the past seven days.

As XYO has trended higher, the inflow of liquidity into its market has also increased. The token’s Chaikin Money Flow (CMF) has been trending upward in recent days and is on the verge of crossing the zero line at press time.

This indicator measures the buying and selling pressure of an asset by tracking how money flows through its market. When the indicator has an upward trend, it is a bullish sign. When it crosses below the zero line, it signals a change in market trend from negative to positive and confirms a continued uptrend.

If demand for the altcoin continues to rise, its price could rally back to $0.0071.

Matrix AI Network (MAN) forms an ascending channel

Matrix AI Network claims to be the first AI-optimized blockchain platform. Its native token, MAN, powers it.

MAN’s 15% price increase over the past seven days has led to the gradual formation of an ascending channel. This channel is a bullish signal formed when an asset’s price creates higher highs and higher lows within two upward-sloping parallel trendlines.

At press time, the token’s price is $0.036. Since the start of its uptrend on June 14, its Advance/Decline line has also increased. At press time, the indicator’s value is 515.70. Since then, it has increased by 1.4%.

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A rising A/D line is generally interpreted as a bullish signal. This suggests overall strength and strong positive momentum in an asset’s market.

If MAN price maintains its upward trend, it will reach $0.039.

OriginTrail (TRAC) hits weekly high

OriginTrail is an open-source project building a knowledge infrastructure for artificial intelligence (AI). Its native token, TRAC, has seen a 17% price increase in the past week. It is currently trading at its highest price level in seven days.

Readings of its moving average convergence/divergence (MACD) confirm the resurgence of the bullish bias in favor of the token. Additionally, on June 25, the MACD line (blue) crossed the signal line (orange), a positive sign suggesting that buying pressure is outweighing selling activity.

The MACD indicator of an asset tracks the trends and momentum of its prices. When this bullish crossover occurs, traders interpret it as a sign to enter long positions and exit short positions.

If the bulls continue to support the TRAC price rally, it could trade towards $0.79.

However, if profit-taking activity begins, the token price will drop, invalidating the above projection. If this happens, TRAC will trade at $0.74.

Marlin (POND) is trading above the key moving average

Marlin (POND) offers programmable network infrastructure for decentralized finance (DeFi) and Web 3.0 projects. It is powered by POND, which has increased in price by 10% in the last seven days.

This rally pushed the token’s price above its 20-day exponential moving average. This measures the average price of an asset over the last 20 trading days.

When an asset trades above this key moving average, it confirms an increase in buying pressure. This is a bullish signal that confirms a current market recovery. Traders often view this as a signal that the upward trend in an asset’s price will continue.

If POND’s uptrend continues, it could rise back to $0.02.

However, if the bearish trend towards the token increases, its price could drop to $0.01.