OAKLAND, CA – APRIL 18: A truck driver sits in line as he waits to enter a shipping dock at the Port of Oakland on April 18, 2025 in Oakland, California.
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The man who approached Marcus Levin at a conference in Australia wouldn’t let him go. “He came up to me and hugged me and wanted to thank me,” the XYO Network co-founder told . On the sidelines Podcast in a recent interview. The man was a retired truck driver who, according to Levin’s account, used a free phone app called Coin to add years of side income to his pension.
The coin is the consumer face of XYO, a decentralized physical infrastructure network, or DePIN, that pays users tokens to contribute real-world data such as GPS coordinates and Bluetooth handshakes. By Levin’s account, his top 500 users together received about fourteen million tokens. The network now extends to more than 10 million nodes around the world.
In December, the project found a new front door. Revolut, the new British bank with tens of millions of retail customers, has listed the XYO token on its in-app cryptocurrency trading platform. XYO has called it the first DePIN token to reach mainstream consumer fintech at this scale.
“The listing of XYO by Revolut is an unforgettable moment,” Levine said in the listing press release. “Revolut is one of the largest financial platforms in the world. Having the XYO token available there gives us exposure to a global audience and signals that what we are building belongs in a mainstream financial environment.”
What XYO actually sells
DePIN is a crypto corner that pays you to run a small piece of infrastructure. Helium pays for cellular hotspots. Hivemapper pays for street mapping with a Dashcam. Geodnet pays for GNSS receivers with centimeter accuracy. XYO started out in 2018 using a few Bluetooth beacons and GPS trackers; Today, the heavy lifting is done through Coin, an application that can be run on any phone.
Nice economy on the part of the user. Download the app, let it run, and collect “points.” Trade points for XYO tokens or, increasingly, for Bitcoin, Ether, gold bullion and lottery shares. Levine says 80% of new sign-ups arrive without any prior cryptocurrency experience, and 95% of them redeem their points for XYO. The app has a 4.5-star rating on the Apple and Google stores.
Levin makes an extraordinary claim about participation. “Users use our app on average more than three hours a day on top,” he said. “More than all the social media apps that get shared usage.” This number is his alone. There is no independent telemetry to confirm this.
The Coin app is also where the collective stories Levine tells originate. “We have these stories where someone went on a honeymoon 20 years overdue, and someone paid off their mortgage,” he said. The Australian truck driver, in his story, invested $400,000 in his friend’s project.
In September 2025, XYO launched its Layer 1 blockchain, which it markets as the first data-centric L1 layer. The offering is directed to AI labs and organizations that need immutable, real-world data. Earlier this month, the team shipped an AI software development kit and a “Data Lakes” product that lets developers route AWS or Google Cloud data to the XYO Series. On March 5, the company signed a partnership with Resiliocs, a climate analytics company that wants verified geospatial data for insurance modeling.
“To solve hallucinations, you need to solve data quality issues, which is what we do,” Levin said. The company signed a partnership in March with Resiliocs, a climate analytics company that wants verified geospatial data for insurance models.
10 million nodes, $50 million
XYO has more nodes than any other DePIN project. Helium manages about 384,000 cellular hotspots. Hivemapper claims to have mapped a quarter of the world’s roads. XYO has reached over 10 million nodes, with over 1 million nodes in Asia alone, according to its major announcement in September 2025.
The token was not followed. XYO’s market cap is between $50 million and $64 million in May, versus a fully diluted peak near $1 billion in November 2021 according to XYO’s own numbers. Render is valued at about $887 million in early 2026, Helium at about $150 million, Geodnet at $61 million, and Hivemapper at about $11 million. Levine walks through XYO’s back and forth on the podcast. “The market capitalization of the XYO token was $1 billion, then it dropped to 50, then to 500 million,” he said.
The owners voted about it. “I love progress, but $XYO never holds any gains. It’s been bleeding for years,” X user @crypto_pisano posted on May 17, calling for the new XL1 token to be withdrawn from centralized exchanges.
Levin’s response is the cohort, not the chart. “Most people in the world live paycheck to paycheck,” he said. “And if you’re able to earn an asset and you’re able to earn it for free, and then, you know, the price of that asset might go up, it might go down as well.” Through bulls and bears, the company continued to charge, he said. “We built a real business and a real icon and it has endured over the years.”
Not just XYO
Same thing Emerging Markets Portfolio Base It appears in nearby crypto companies. Chris Hunter runs Maven Tradinga Vancouver trading company founded by John Alexander in 2022. Maven launched a cryptocurrency-only sister brand called WenCrypto in March. In the same podcast, Hunter described his clients in terms that Levine could identify with. He said they are in countries that “may be budget friendly,” confirming the list presented by the host country that includes Nigeria, Indonesia, India and Argentina.
The regulatory cover is thinner than for DePIN earning applications. “The support company has no regulations,” Hunter said. “There’s no such thing. If we were a brokerage firm and managing people’s money, it would be different. But because of the nature of the game, it’s fundamentally a game. It’s a trading-based game, a skill-based game.”
Maven and XYO sell different products, but they both find similar wallets.
Deepen context
DePIN has a combined market cap of roughly $9 billion to $10 billion in early 2026, according to industry trackers, and the sector generated about $150 million in cross-chain revenue in January from storage deals, computing jobs and mapping services. Levin’s pitch to investors is that XYO ends up as a data layer underneath this economy, selling proof of location and verified real-world data into AI training pipelines.
For now, the guide is the truck driver. “Most people in the world live paycheck to paycheck,” Levin said again as he got back on the line. Ten million nodes are difficult to unpack from a market cap of $50 million.
