According to CryptoRank data, the market cap of the decentralized physical infrastructure network (DePIN) track has fallen from a historical high of $20.2 billion in March 2024 to $3.46 billion, a decline of 83%. In addition, since the beginning of 2026 to date, the track is down 23%, and it has now become one of the weakest major narrative segments in the crypto market.

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