Grass Project Secures $10 Million, Fueling Decline in Coin Price

The Decentralized Physical Infrastructure Network (DePIN) project, Grass, has raised a significant $10 million in investment funding. This round, spearheaded by Polychain Capital and Tribe Capital, primarily involved the purchase of the GRASS token. Grass is dedicated to creating a decentralized network for sharing internet bandwidth. The project allows individuals to monetize unused bandwidth directly, bypassing large corporations that traditionally collect data for profit. However, this announcement triggered further price drops in the GRASS cryptocurrency, as the already declining price saw even steeper losses.