Solana returns: What is DePIN and the future of SOL?

* Solana DePIN recovered in February, with Helium recording a 9-fold increase in users.

• The value of SOL is heavily influenced by the meme-coin craze, according to the activity of each address.

Solana [SOL] DePIN ( decentralized physical infrastructure network ) has recovered in February, when key projects like Hivemapper and Helium Mobile recorded significant traction.

According to a recent report, the number of Helium Mobile users has increased ninefold to 145,000, marking the highest growth in the past year.

Source: Syndica

Can DePIN raise SOL value?

Additionally, the report also confirms that Hivemapper, a community alternative to Google Maps, has tripled its demand in February thanks to new mapping devices (MapBox).

Source: Syndica

In fact, Syndica reports that Helium [HNT], Hivemapper, and Render have maintained a steady revenue of around 350,000 USD, indicating that the industry has stabilized in 2025.

The revival of DePIN could be a good catalyst for SOL, especially after the memecoin frenzy has reduced trading volume on Solana’s decentralized (DEX) and its overall value.

During the peak period of DEX volume reaching 3 billion USD in January, SOL hit an all-time high of 295 USD, driven by strong interest following the launch of the TRUMP memecoin.

But the DEX volume decreased by 60% afterwards, pulling SOL back to the 2024 support level above 120 USD.

So can the resurgence of DePIN make up for the gap left by memecoin and enhance the value of SOL? TinTucBitcoin has evaluated active addresses to find out.

Source: The Block

During the TRUMP meme-coin craze, the average number of active addresses on Solana rose to 5.7 million in mid-January but then gradually declined.

A slight increase in February reached 4.4 million from 4.1 million, coinciding with the attraction of DePIN shared by Syndica.

However, the number of users decreased at the end of February, dropping to 2.7 million. By mid-March, this figure seems to have stabilized at 3.11 million active addresses.

This represents a 45% decrease in network activity from the peak reached in January.

Simply put, DePIN can bring some improvements to the operations in February; however, memecoin activity remains the main driving factor in the Solana ecosystem.

At the time of writing, SOL is priced at 130 USD and remains above its main support level for 2024. Whether the support level of 120 USD can prevent the next correction remains to be seen.

Source: SOL/USDT, TradingView

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