The Decentralized Physical Infrastructure Network (DePIN) sector has achieved a $10 billion valuation, according to a new analysis by Messari, defying predictions of its potential demise. The report highlights that DePIN projects generated $72 million in on-chain revenue last year, showcasing economic activity beyond speculative trading. This growth underscores the sector's resilience and potential for sustainable business models. Despite a significant drop in DePIN token prices, with declines of 94% to 99% from their peaks, the underlying networks continue to generate consistent revenue. This discrepancy suggests that market sentiment and speculative trading have overshadowed the fundamental strength of DePIN projects. The sector's growth reflects blockchain's expanding role in coordinating real-world infrastructure through decentralized models, with potential advantages over traditional systems.