Deep Dive: Solana DePIN - June 2025

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Syndica Deep Dive: Solana DePIN - June 2025

DePIN revenue reached a new YTD high.

In June, Helium, Render, Hivemapper, UpRock, NATIX and XNET collectively earned $716k, marking a new 2025 high and hitting $3M in cumulative revenue.

Solana has done a great job of attracting deployers.

From early 2023 to June 2025, Solana DePIN more than tripled the number of connected devices amongst their networks, reaching a count of 2.3M.

Developer activity has grown and become more diverse since 2022.

Starting with just GenesysGo in 2021, developer activity was tracked by the number of commits, PRs and reviews. This expanded as Helium migrated and new protocols launched.

Solana has become the hub for new DePIN protocols.

Since 2022, Solana has captured the majority of significant DePIN token launches, hosting 9 of the last 20 with at least a $10M marketcap, replacing Ethereum as the DePIN chain.

Solana hosts the highest DePIN FDV market cap in crypto.

Since 2024, Solana emerged as the chain with highest FDV, showcasing how Solana houses some of the biggest protocols.

Part I - Wireless

Wayru has onboarded 1.5k devices so far this year.

Wayru, a Solana based global WiFi network, lets users share WiFi to earn tokens. The network mints an NFT for every device deployed on the network.

The Dabba ecosystem is thriving.

Year-to-date, Dabba’s hotspot supply rose 67%, connected devices doubled, bandwidth consumption more than tripled, and token burns more than doubled.

Helium Mobile on-chain revenue reached $1.5M this year.

On-chain revenue reached a record $364K in June, rising 14% month-over-month, with data offloading accounting for 88%.

Helium Mobile subscriber counts rose dramatically in H1 2025.

From H2 2024 to H1 2025, average monthly new subscribers grew 6.7x, with 39k joining in June 2025.

Helium Mobile data offload hit a new ATH for the 3rd straight month.

Average daily offload subscribers climbed 22% to nearly 1M, while offload data (TB) increased 11%.

XNET data offload hit a new ATH.

Average daily offload data increased 9% in June reaching 931GB daily.

XNET contributor counts have stabilized near peak levels.

$XNET rewards and active contributrors have been steady for the past three months.

Roam surpassed the 5M count benchmark in cumulative WiFi setups.

Roam added 348k new WiFi setups to exceed 5M total, while new registered users jumped 42% in June.

Part II - Compute, AI, & Data

Shaga's interactive streaming reached new all-time highs in June.

Shaga streams and stream hours increased by more than 20%, setting ATHs in both metrics. Terraria topped June streaming with 2,806 hours, only 3.5% of total hours, showing the diversity of games streamed.

Nosana demand surged from H2 2024 to H1 2025.

The network completed 766k jobs, with average monthly jobs rising 78% compared to H2 2024.

Grass scraped nearly 150M GB of data during the first half of the year.

io.net doubled their revenue in June, reaching $2.5M.

Part III - Mapping

The NATIX ecosystem flourished in June.

Network demand and contributor rewards surged, with revenue jumping 72% to $55k, active contributors rising 71%, and rewards nearly doubling.

Wingbits continued to show steady growth in June.

In June, Wingbits’ live stations rose 21% breaking 4k devices, driving a 9% increase in daily data points to 13.1B.

Hivemapper revenue rebounded in June.

In June, demand measured in USD burned increased 81% to $27k, bringing in a total of $114k in revenue so far this year.

Hivemapper showcased a robust contributor ecosystem in H1 2025.

In H1 2025, Hivemapper mapped 139M kilometers while its average of ~6k monthly active contributors held steady.

Part IV - Environment

Sourceful device owners' power production increased for the 7th consecutive month.