DePin
Project Hivemapper Defies Market Downtrend:
HONEY Token Surges Over
30%
Decentralized physical infrastructure network (DePin) startup
Hivemapper s HONEY token has surged by over 30% in the last 24 hours.
Despite Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin plummeting to a two-month low of $57,800 earlier today, HONEY
emerged as one of the top gainers on CoinGecko.
This impressive rally was significantly influenced by its recent listing on
Kraken, one of the leading cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта exchanges.
How Can Hivemapper s HONEY Token Sustain Its Rally?
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Kraken announced its decision to list the HONEY token on July 2, and trading
commenced the following day. This development seems to have catalyzed the
token’s sharp increase in value.
Earlier today, HONEY reached $0.0875, marking its highest value since May 13.
Following this peak, however, the token experienced a 10% drop and is
currently trading near $0.0772. This retraction likely stems from investors
taking profits amidst the rapid price increase.
HONEY needs to close above the resistance level of $0.0832 to sustain its
upward momentum. Moreover, it needs to consistently stay above the support
level of $0.0722. If it fails to maintain these levels, the token risks losing
its recent gains and potentially reverting to previous price levels.
Nonetheless, HONEY is still more than 85% below its peak price in January.
Read more: What Is DePIN (Decentralized Physical Infrastructure Networks)?
Hivemapper (HONEY) Price Performance. Source: TradingView
Hivemapper, which backs the HONEY token , operates a decentralized mapping
network that employs artificial intelligence (AI) and crowdsourced data to
create a global map. This platform differs from traditional services because
it uses dashcams and mobile phone telemetry, allowing personal and enterprise
decentralized applications (dApps) to access current geolocation data.
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Notably, Hivemapper s data collection and expansion rate is
significantly faster than traditional mapping services like Google Maps• Коммуникации » Интернет-коммуникации » Интернет сайты » Виртуальные атласы » Карты Google
• Коммуникации » Интернет-коммуникации » Веб 2.0 » Карты Google
• Информационные технологии » Информатика » Программирование » Программное обеспечение » Прикладное программное обеспечение » Виртуальные атласы » Карты Google
• Информационные технологии » Информационно-коммуникационные технологии » Информационные технологии и телекоммуникации » Программирование » Программное обеспечение » Прикладное программное обеспечение » Виртуальные атласы » Карты Google
• Высокие технологии » Информационные технологии и телекоммуникации » Программирование » Программное обеспечение » Прикладное программное обеспечение » Виртуальные атласы » Карты Google. On
June 27, BeInCrypto reported that Hivemapper’s map database expands four to
five times quicker than Google• Объект организация » Организации по алфавиту » Организации на Go » Google (компания)’s. This advantage is largely due to its
strategy of incentivizing contributors.
Ariel Seidman, co-founder of Hivemapper, praises the company s unique
contributor engagement strategies for the network s growth. For example,
an early adopter named Brad bought 100 Hivemapper dashcams and distributed
them to Uber and Lyft drivers, sharing his earned HONEY tokens with them. This
strategy significantly expanded the network’s reach and effectiveness.
“So that really helped the network grow because he was identifying the right
kind of drivers. He had the capital. A lot of Uber drivers may not have the
capital. So that was one really clever example,” Seidman said.
Read more: Top 7 Projects on Solana With Massive Potential
Despite these successes, challenges remain. According to a report by Franklin
Templeton , while Hivemapper has successfully mapped 21% of the world’s roads
in just 31 months, it struggles with the demand side of its operations. The
project has not seen proportional growth in demand compared to the supply of
mapping data, which could lead to an inflated token supply and consequent
devaluation.
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