Altcoin Soars Following Coinbase Listing Announcement
An altcoin built on the Solana blockchain is experiencing a significant surge in value after Coinbase, a leading US crypto exchange platform, announced its official listing. Hivemapper (HONEY), a decentralized global mapping network, was recently added to Coinbase’s list of supported assets.
Hivemapper operates as a map-building tool that relies on users driving around and collecting data using dashcams. This data is then utilized to create a decentralized global map, with participants earning monetary rewards for their contributions.
Upon Coinbase’s announcement, the price of HONEY skyrocketed to $0.337 on January 17th. However, it has since dipped slightly and is currently trading at $0.30, marking a 5% decrease in the last 24 hours but still reflecting a 22% increase from earlier today when it was valued at $0.240.
Coinbase’s Plan for Transparency
Earlier this year, Coinbase included Hivemapper in its listing roadmap as part of its efforts to enhance transparency with traders and combat the front-running of digital assets. This move caused HONEY’s value to surge by an impressive 85%, rising from $0.129 to $0.232 within just 24 hours.
Hot Take: Hivemapper’s Listing Boosts Altcoin Value
The recent addition of Hivemapper (HONEY) to Coinbase’s supported assets has had a significant impact on its value, causing it to soar by 22%. This highlights the influence that exchange listings can have on altcoins and the potential for increased investor interest and trading activity. As more exchanges embrace altcoins like HONEY, we can expect further growth and development in the crypto market.
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