Those who sold hardware, nodes, or sold shares through public offerings in the previous cycle of DePIN are indeed in a rather awkward position this cycle.

Binance Alpha + Wallet IDO launch, if there is no subsequent official announcement from the Binance main site, the market cap will peak at most at 150 million, and this premise still requires absolute control of the market.

If we take other first and second tier exchanges, recent feedback from projects and market makers indicates that buying interest is becoming increasingly weak. Issuing tokens and exiting have become challenges.