The native token of a Solana-based decentralized wireless provider experiences a price drop after being listed on Coinbase
The native token of Helium Mobile (HELIUM), a wireless phone service built on the Solana blockchain, has seen a decrease in price after being listed on Coinbase, one of the leading cryptocurrency exchange platforms in the United States. Coinbase recently announced that it has added support for HELIUM, allowing its customers to buy, sell, convert, send, receive, or store the token.
However, the news of the listing had an immediate impact on the price of HELIUM. The token experienced a drop of over 10% in value since its seven-day high of $0.0042 on February 22nd and is currently trading at $0.0036 at the time of writing.
Helium Mobile: A wireless phone service incentivizing network mapping
Helium Mobile (MOBILE) is part of the Internet of Things (IoT) network and positions itself as an affordable alternative to traditional wireless carriers. One unique feature of Helium Mobile is that it incentivizes users to map out its 5G network using their phones in exchange for rewards.
By verifying or mapping out Helium’s network, users can earn MOBILE tokens. This process, known as “network mapping,” is an opt-in program available to Helium Mobile users as part of their plans.
A nationwide availability and Coinbase listing roadmap announcement
Initially launched in Miami last year, Helium Mobile has now expanded its services nationwide. This expansion aims to provide affordable wireless connectivity options to users across the country.
Coinbase’s decision to list MOBILE on its platform was preceded by an announcement that the cryptocurrency exchange would be adding MOBILE to its listing roadmap. Such announcements often lead to a surge in the value of the listed asset, and MOBILE saw a 7% increase in price following Coinbase’s announcement.
Hot Take: The impact of Coinbase listing on Helium Mobile’s price
The recent listing of Helium Mobile (HELIUM) on Coinbase, one of the largest cryptocurrency exchange platforms in the US, has had a notable impact on the token’s price. Here are some key takeaways:
- HELIUM experienced a price drop of over 10% following its listing on Coinbase.
- Helium Mobile is a wireless phone service built on the Solana blockchain that incentivizes users to map out its network in exchange for rewards.
- The nationwide availability of Helium Mobile aims to provide an affordable alternative to traditional wireless carriers.
- Coinbase’s decision to list MOBILE on its platform was preceded by an announcement that hinted at the potential listing, causing a 7% increase in MOBILE’s price.
The listing on Coinbase is seen as a significant milestone for Helium Mobile as it provides greater accessibility and exposure for the token. However, the immediate price drop suggests that market dynamics and investor sentiment can have a strong influence on the token’s value. As with any investment, it is important to carefully consider market conditions and conduct thorough research before making any decisions.
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