In a recent announcement, the leading US cryptocurrency exchange Coinbase revealed that it is considering adding the altcoin Hivemapper (HONEY) to its trading platform. HONEY, a relatively small altcoin with a market capitalization of $57 million, currently lacks a listing on any major cryptocurrency exchange. The news of potential listing on Coinbase caused the price of HONEY to surge by 100%, with the altcoin currently trading at $0.1901 and a market cap of $86.7 billion. The trading volume of Hivemapper has also seen a massive increase of 1000% in the last 24 hours.
Support for New Assets on Solana Blockchain
Coinbase has been expanding its support for new assets on various blockchain networks, including the Solana blockchain. The decision to include Hivemapper (HONEY) aligns with Coinbase’s commitment to listing assets that meet their standards for legal, compliance, and technical security. The platform aims to provide users with a diverse inventory of assets by supporting different networks and ecosystems. Coinbase’s selection criteria prioritize adherence to supported token standards like Solana SPL, Ethereum ERC20, and Avalanche ARC20.
About Hivemapper
Hivemapper (HONEY) is a decentralized global mapping network launched in November 2022. It introduces the Drive-to-Earn model, where participants earn rewards for capturing high-volume 4K street-level images using specialized devices called Dashcams. These devices combine a camera designed for image capture with a blockchain mining device. Users equipped with Dashcams actively contribute to the mapping ecosystem and receive rewards in HONEY tokens.
Potential Benefits for HONEY
The potential listing of HONEY on Coinbase could bring increased credibility, trust, and visibility to the altcoin and its community. Coinbase’s stringent listing process may address existing challenges faced by HONEY and attract new investors and traders to the platform. This move has the potential to enhance HONEY’s reputation in the cryptocurrency space and open up new opportunities for growth.
Hot Take: Coinbase Considers Listing Hivemapper (HONEY) Altcoin
The inclusion of Hivemapper (HONEY) in Coinbase’s roadmap for potential listing consideration is a significant development for the altcoin and its community. If listed on Coinbase, HONEY could benefit from increased credibility, trust, and visibility in the cryptocurrency market. This move aligns with Coinbase’s commitment to supporting new assets that meet their standards for security and compliance. It also highlights the growing interest in decentralized mapping networks like Hivemapper. The surge in HONEY’s price following the Coinbase news showcases the impact of major exchange listings on altcoin markets. Overall, this potential listing presents an exciting opportunity for HONEY and its supporters.
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