Crypto Market Sees Broad Declines Led by DePIN and Filecoin Losses

Major cryptocurrencies, including Bitcoin and Ethereum, fell alongside sector-wide pullbacks across DePIN, CeFi, Layer2, DeFi, Layer1, PayFi, AI, and Meme categories.

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Summary

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Terms & Concepts
  • DePIN: Decentralized Physical Infrastructure Networks, blockchain-based systems managing physical infrastructure and resources through distributed ownership.
  • CeFi: Centralized Finance, a cryptocurrency ecosystem where transactions and custody are managed by centralized entities.
  • Layer2: Blockchain scaling solutions built on top of a main chain to increase transaction speed and reduce costs.