DePin Token NATIX Gets Listed on Centralized Exchanges: Price Declines 45%

Today marks a pivotal moment for the decentralized physical infrastructure network (DePin) project – NATIX Network. This is because its token, NATIX, is now available on centralized exchanges.

Noteworthy platforms, such as KuCoin, MEXC, and Gate.io, listed the token. However, major crypto exchanges like Binance, Coinbase, and Kraken have yet to announce plans to include NATIX.

What Challenges NATIX Might Face?

NATIX Network builds a mapping solution by encouraging users to collect and share environmental data. This crowdsourced information fuels the NATIX map, which is essential for smart-city and mobility applications.

The flagship product, Drive&, combines dashcam and navigation technologies with smartphone cameras. It collects real-time data using computer vision AI, thereby enhancing driver experiences and urban navigation.

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

Crypto researcher Aylo reports that within a single year, NATIX Network has amassed over 130,000 registered devices. It has mapped 50 million kilometers of roads across 171 countries.

Alireza Ghods, in an interview, explained the functionality of the Drive& app.

“Users place their phone on the car dashboard, and the AI detects traffic, potholes, and parking spots in real-time. This data is collected, and users earn rewards for contributing,” Ghods explained.

Furthermore, NATIX Network has partnered with Solana Mobile, rewarding early adopters of the Solana Saga Genesis and Chapter 2 smartphones with tokens. This collaboration highlights the strategic synergy between mobile-based solutions, emphasizing accessibility and convenience.

Additionally, following a successful beta phase, the Drive& app has launched on Saga’s dApp store, solidifying its market presence.

Despite these advancements, NATIX faces significant competition from established giants like Google Maps and from DePin projects like Hivemapper. A recent BeInCrypto report revealed that Hivemapper’s map database grows four to five times faster than Google’s, leveraging blockchain technology to enhance the DePin ecosystem.

However, Ghods highlighted NATIX’s unique advantages over competitors. He emphasized the convenience of using existing smartphones over buying new hardware, which often faces supply chain delays.

“In our project, there is no need to buy hardware. Users can just use their smartphones, which makes it much more scalable. If you buy a Hivemapper dashcam, you need to wait a long time due to supply chain issues. For instance, if you bought it in January or February, you might have had to wait until August. I’m not sure about the current wait times, but there’s this whole supply chain issue to solve,” Ghods stated.

According to a Franklin Templeton report, while Hivemapper has successfully expanded its number of contributors, it has struggled to grow consumer demand. This issue serves as a warning for NATIX, which could face similar challenges.

Read more: 10 Best Crypto Exchange Reviews for July 2024

Year-to-date, Hivemapper’s HONEY token has fallen by about 85%, a fate that could potentially await NATIX unless it devises effective strategies to enhance demand for its app and token. In fact, since its listing, the price of NATIX declined by 45% on KuCoin.

NATIX Network (NATIX) Price Performance. Source: TradingView

As NATIX makes its debut on centralized exchanges, its success will hinge not only on its ability to innovate but also on its capacity to engage and retain user interest in a market that is becoming increasingly competitive.

The post DePin Token NATIX Gets Listed on Centralized Exchanges: Price Declines 45% appeared first on BeInCrypto.

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