HONEY, the native token of the Solana-based decentralized mapping project Hivemapper, surged 43% in the last 24 hours, trading at $0.08141. This rise comes despite a broader slump in other cryptocurrencies.
HONEY’s market cap soared 56% to $161.9 million, although it’s still down 81% from its all-time high of $0.4315 reached on Dec. 7, 2022. Hivemapper, a key player in the Decentralized Public Infrastructure (DePIN) space, aims to surpass Google Maps by rewarding drivers and data verifiers with HONEY tokens for mapping roads.
The network has mapped over 13.8 million unique kilometers, with users covering more than 262.55 million kilometers globally. Notably, only 23% of the earth has been mapped, highlighting the project’s growth potential.
The token’s value also benefited from its listing on Kraken Pro and a bullish chart pattern. Hivemapper’s model contrasts with web2 services like Google Maps, which generally do not offer monetary compensation.
Hivemapper’s strategic expansion could position it as a leader in the DePIN sector, which is predicted to grow. Read more about the project on their official website.
