HONEY, the native token of the Solana-based Hivemapper project, surged 43% in the last 24 hours, trading at $0.08141. This increase comes amid a broader cryptocurrency slump, with HONEY’s market cap jumping over 56% to $161.9 million.
Hivemapper, a decentralized mapping network, rewards contributors with HONEY tokens for mapping roads using dashcams. The recent surge is attributed to network growth, having mapped over 13.8 million unique kilometers. Despite this, only 23% of the Earth is covered, posing a challenge.
The token’s value grew due to the network’s expansion and an upgraded Hivemapper website. HONEY also benefited from a bullish chart pattern and its listing on Kraken Pro. The rise highlights DePIN’s potential, a sector poised for significant growth.
