5 DePin Coins to Add to Your Portfolio in July 2024️

Decentralized Physical Infrastructure Networks (DePin) are crowd-sourced networks in which individuals contribute physical infrastructure resources required in various fields. The providers of these infrastructural services are incentivized via the network’s native tokens through a reward-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, whose value plunged to a year-to-date low of $0.00055 on June 18.

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

The price uptick is backed by demand from market participants. Readings from BEPRO’s Accumulation/Distribution Line confirm this. It has risen steadily with the token’s price in the past few days.

Read more: What Is DePIN (Decentralized Physical Infrastructure Networks)?

BePro Analysis. Source: TradingView

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

If this trend continues, BEPRO’s value may climb to exchange hands at $0.00068.

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

XYO (XYO) Climbs By Double Digits

Built to revolutionize how data is collected and used in the physical world, XYO is a collaborative network where its providers gather and verify real-world data. 

The value of its native token XYO has risen by double digits in the last week. Currently, the token trades at $0.0066, having witnessed an 18% price growth in the past seven days. 

As XYO trends upward, liquidity inflow into its market has also risen. The token’s Chaikin Money Flow (CMF) has been in an uptrend in the past few days and is poised to cross above the zero line at press time.

This indicator measures an asset’s buying and selling pressure by tracking how money flows into its market. When the indicator trends upward, it is a bullish sign. When it crosses below the zero line, it signals a shift in market trend from negative to positive and confirms an ongoing uptrend. 

XYO Analysis. Source: TradingView

If the demand for the altcoin continues to surge, its price may rally to $0.0071.

Matrix AI Network (MAN) Forms Ascending Channel

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

MAN’s 15% price hike in 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 parallel trendlines sloping upwards.

At press time, the token’s price is $0.036. Since its uptrend began on June 14, its Advance/Decline Line has also risen. At press time, the indicator’s value is 515.70. It has since climbed by 1.4%. 

Read more: Top 9 Web3 Projects That Are Revolutionizing the Industry

Matrix AI Analysis. Source: TradingView

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

If MAN’s price maintains its uptrend, it will reach $0.039.

OriginTrail (TRAC) Climbs to a Weekly High

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

Readings from its moving average convergence/divergence (MACD) confirm the resurgence in bullish bias toward the token. Furthermore, on June 25, the MACD line (blue) intersected the signal line (orange), a positive sign suggesting that buying pressure outweighs selling activity.

OriginTrail Analysis. Source: TradingView

An asset’s MACD indicator tracks its price trends and momentum. When this bullish crossover occurs, traders interpret it as a sign to go long and exit short positions. 

If the bulls continue to sustain TRAC’s price rally, it may exchange hands at $0.79.

However, if profit-taking activity commences, the token’s price will decline, invalidating the above projection. If this happens, TRAC will trade at $0.74. 

Marlin (POND) Trades Above Key Moving Average 

Marlin (POND) offers a programmable network infrastructure for decentralized finance (DeFi) and web 3.0 projects. It is powered by POND, whose price has risen by 10% in the past seven days.

This rally has pushed the token’s price above its 20-day Exponential Moving Average. This measures an asset’s average price over the past 20 trading days.

When an asset trades above this key moving average, it confirms a hike in buying pressure. It is a bullish signal that confirms a current market rally. Traders often consider it a signal that an asset’s price uptrend will continue.

Marlin Analysis. Source: TradingView

If POND’s uptrend continues, it may rally to $0.02.

However, if bearish bias toward the token spikes, its price may fall to $0.01.

The post 5 DePin Coins to Add to Your Portfolio in July 2024️ appeared first on BeInCrypto.

Leave a comment