A Solana-based altcoin, Hivemapper’s HONEY, experienced a surge following its addition to the listing roadmap of leading US cryptocurrency exchange platform Coinbase. The announcement indicated that Coinbase might soon support HONEY, a decentralized global mapping network, triggering a sharp 85% price increase for the crypto token from $0.129 to $0.232 within 24 hours.
Coinbase established its roadmap in 2022 as a way to increase transparency and reduce the likelihood of speculation around new trading support announcements. Hivemapper, which presents itself as a revolutionary geographic mapping tool, operates by allowing contributors to collect mapping data using vehicle cameras.
Contributors to Hivemapper are rewarded for their footage, contributing to the creation of a decentralized map. The company envisions a network of contributors and map consumers intricately connected to the Hivemapper blockchain, democratizing and fairly sharing valuable map data. Contributors can map any area, but earnings through vehicle camera mapping are limited to specific cities.
Hivemapper rewards contributors, such as rideshare drivers, delivery drivers, fleet owners, GIS enthusiasts, map lovers, and truck drivers, for collecting high-volume 4K street-level images. By installing a simple vehicle camera on a car or truck, contributors can earn rewards and share in the value created by a decentralized global map while also strengthening the world’s critical geographic infrastructure.
After the initial surge, HONEY’s token price retracted and was moving towards $0.229 at the time of writing.