In a remarkable turn of events, Hivemapper ($HONEY), the decentralized global mapping network launched in November 2022, has witnessed an impressive surge in its value after the recent announcement by Coinbase.
The mapping platform, known for its innovative Drive-to-Earn model, rewards contributors for collecting high-quality 4K street-level imagery with dashcams.
Despite having a market valuation below $57 million, $HONEY is considered a relatively minor altcoin and has yet to be listed on major cryptocurrency exchanges. However, the landscape changed significantly after Coinbase, the leading US cryptocurrency exchange, revealed its plans to potentially list Hivemapper ($HONEY) on its platform.
Asset added to the roadmap today: Hivemapper (HONEY)https://t.co/rRB9d3hSr2
— Coinbase Assets 🛡️📞 (@CoinbaseAssets) January 3, 2024
$HONEY Price Action To Watch
Following this announcement, the price of $HONEY experienced an extraordinary increase of over 100%, soaring from $0.119 to a high of $0.27. This surge translated into a remarkable 1163% gain in 24-hour trading volume and a 100% increase in market capitalization. Notably, over the past three months, $HONEY has exhibited an astonishing growth of 1609%.
Hivemapper itself achieved a noteworthy milestone recently by successfully mapping 10% of the world’s roads, covering a total distance of 100 million kilometers in just a year. The platform incentivizes users with $HONEY rewards for contributing the latest map data, including capturing high-quality road imagery and uploading it to the mapping network.
Mapping monopolies are on notice. 🧐🗺️#Hivemapper offers up-to-date, standardized imagery and data with affordable map products.🛠️
10% of the world's roads and 100M total road km mapped in only a year — and we're just getting started…
👉https://t.co/UaDRVJXN3g #DePIN pic.twitter.com/hNHAT2A0TN— Hivemapper (@Hivemapper) January 4, 2024
This surge in both value and recognition is indicative of Hivemapper’s growing significance in the decentralized mapping space. The Coinbase listing announcement serves as a significant catalyst.
This propels $HONEY into the spotlight and underscoring the platform’s unique approach to mapping technology. Also, its drive to incentivize contributors through the innovative Drive-to-Earn model.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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