Peaq Hits 2.5 Million Wallets, Targets 5 Million Milestone

Peaq, a Layer-1 blockchain designed for the Machine Economy and Decentralized Physical Infrastructure Networks (DePINs), has surpassed 2.5 million wallets. This milestone showcases rapid adoption but has also sparked skepticism within the community. While some hail it as a breakthrough, others question whether the numbers are inflated.

Peaq’s Expansion and Real-World Utility

Peaq has gained traction by tokenizing real-world assets such as:

• Vehicles
• Robots
• IoT devices

With over 2 million users and machines onboarded in just 3.5 months, peaq has assigned 1.5 million peaq IDs, allowing seamless interactions via modular DePIN functions like Peaq ID and Peaq Pay. Projects like Silencio (noise pollution mapping) and Wingbits (aircraft tracking) highlight its real-world applications.

Skepticism Over Wallet Growth

Despite peaq’s claims of organic expansion, X users have raised concerns about:

• Possible bot-driven wallet creation
• Artificial hype inflating numbers
• Whether wallet count reflects genuine user engagement

Critics argue that rapid wallet growth does not necessarily indicate adoption, while supporters maintain that peaq’s focus on DePINs gives it a tangible edge.

The Race to 5 Million Wallets

Peaq has secured $35 million from token launches and pre-launch funding, fueling speculation on whether it will become the first blockchain to reach 5 million wallets. Historically, Bitcoin and Ethereum took years to achieve such numbers, but peaq’s trajectory suggests it could set a new record.

As debates continue, peaq’s future hinges on proving its numbers reflect real engagement rather than artificial growth. Will it silence the doubters or face further scrutiny?