Recently, I took a look at Grass’s performance. Honestly, it’s quite interesting. Do you remember the time last year when we predicted that GRASS could surge to $2.5 to $3—yet the price is now down to around $0.36 instead? Since the project first distributed its airdrop of 100 million tokens in October last year, more than half a year has already passed, so it’s worth doing a proper recap of what exactly has happened.

As a project in the DePIN sector, Grass’s concept is actually quite appealing—users share idle bandwidth to participate in AI training and earn tokens. The total supply is 1 billion tokens: 300 million are allocated to the community (including the previous first airdrop and future incentives), 228 million are used for ecosystem development, 252 million go to early investors, and 220 million are for core contributors. Judging from the tokenomics, the project team has left ample room for ongoing operations.

However, the gap between reality and expectations is still pretty large. Back then, we thought AI tokens would stay hot continuously, and combined with Grass’s innovative positioning, we ended up underestimating how quickly the market would cool down. The coin price has been sliding from its peak all the way down, and the circulating market cap is now only a little over $200 million. Meanwhile, the 24-hour trading volume is just 1.36 million. Put simply, the market’s enthusiasm for this kind of new project has indeed cooled off.

That said, from the project itself, Grass is still moving forward steadily. The user base has expanded from the initial airdrop participants to more people, and the number of token-holding addresses is also over 580,000. If they can truly achieve the goals mentioned in their roadmap—such as improving data acquisition speed and launching new products—there is still a possibility of a turnaround. The key is whether they can find genuine application scenarios and reliable partners.

Looking at Grass today, it’s more of a long-term object to monitor. In the short term, the coin price may continue to fluctuate, but if you’re bullish on the future of the DePIN sector, or believe that AI infrastructure will become increasingly important, then Grass is still worth keeping an eye on. However, you should be mentally prepared—these kinds of projects do carry significant risks, and volatility is real. If you’re interested, you can check the real-time quotes on a platform like Gate to make your own judgment about whether it’s worth getting involved.