Home Altcoins News Coinbase’s Latest Addition: Hivemapper (HONEY) Surges 22% Following Official Listing

Coinbase’s Latest Addition: Hivemapper (HONEY) Surges 22% Following Official Listing

In a major development for the cryptocurrency community, Coinbase, one of the leading US-based crypto exchanges, has officially listed Hivemapper (HONEY), a Solana-based altcoin. This announcement has sent shockwaves through the market, resulting in a 22% surge in the value of Hivemapper within hours.

Hivemapper is not your typical digital asset; it positions itself as a revolutionary map-building tool that leverages the Solana blockchain. The platform encourages users to actively contribute to the creation of a global decentralized map by collecting data through simple dashcams while driving. Participants in this unique data collection process are rewarded monetarily for their efforts.

This endorsement from Coinbase led to a significant price surge for Hivemapper, reaching $0.337 on January 17th. Despite a slight retracement to $0.30 at the time of writing, there is a notable 22% increase from its morning trading value of $0.240.

Hivemapper’s unique approach to map-building involves users actively contributing to the creation of a global map by collecting data through dashcams during their travels. This innovative concept not only adds value to the decentralized ecosystem but also provides participants with monetary incentives for their contributions.

The decision by Coinbase to include Hivemapper in its listing roadmap earlier this year demonstrates the exchange’s commitment to transparency with traders and its ongoing efforts to counter front-running of digital assets.

The surge in Hivemapper’s value following the Coinbase listing is indicative of the influence and credibility associated with being listed on a major exchange. As more investors and traders gain access to Hivemapper through Coinbase, it is likely to attract additional attention and potentially drive further growth in the altcoin’s value.

Coinbase made the exciting announcement earlier this week, revealing that Hivemapper (HONEY) is now live on their platform, including the Coinbase website and iOS and Android apps. This means Coinbase users can seamlessly engage in buying, selling, converting, sending, receiving, and storing Hivemapper assets.

Hivemapper sets itself apart as a groundbreaking map-building tool, leveraging a decentralized global mapping network on the Solana blockchain. The platform encourages users to actively contribute to the creation of a global decentralized map by simply driving around and collecting data through dashcams. In a unique twist, those who participate in data collection are rewarded monetarily for their efforts, creating an incentive-driven ecosystem.

The announcement by Coinbase triggered a surge in the value of Hivemapper (HONEY), propelling it to a price of $0.337 on January 17th. Despite a minor retracement to $0.30 at the time of writing, the altcoin still boasts a remarkable 22% increase since the morning’s trading price of $0.240.

One of the key incentives driving user participation on the Hivemapper platform is the opportunity to earn monetary rewards. Users who contribute by collecting and submitting data through dashcams receive Hivemapper (HONEY) tokens as a form of compensation. This creates a symbiotic relationship where users are not only contributing to the growth of the decentralized map but also benefiting from their active involvement.

Earlier this year, Coinbase had unveiled its intention to include Hivemapper in its listing roadmap, a strategic move aimed at enhancing transparency with traders and mitigating potential front-running of digital assets.

The unique nature of Hivemapper’s functionality, combining blockchain technology with real-world data collection, sets it apart in the crowded cryptocurrency landscape. The potential for a decentralized global map, constructed by users worldwide, adds an exciting layer to the utility of the Hivemapper (HONEY) token.

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Sakamoto Nashi

Nashi Sakamoto, a dedicated crypto journalist from the Virgin Islands, brings expert analysis and insight into the ever-evolving world of cryptocurrencies and blockchain technology. Appreciate the work? Send a tip to: 0x4C6D67705aF449f0C0102D4C7C693ad4A64926e9

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