Solana-Based Altcoin Rockets 22% in Hours After Coinbase Announces Official Listing

One Solana-based (SOL) altcoin is surging just after the top US crypto exchange platform Coinbase announced it would be officially listing it.

Earlier this week, Coinbase announced that it would be supporting Hivemapper (HONEY), a decentralized global mapping network built over the Solana blockchain.

Hivemapper (HONEY) is now live on http://coinbase.com and in the Coinbase iOS and Android apps. Coinbase customers can log in to buy, sell, convert, send, receive or store these assets.

Hivemapper, which describes itself as a revolutionary map-building tool, works by having users drive around and collect data using simple dashcams. The data would then be used to construct a global decentralized map and those who participated in gathering the data would earn monetary rewards for their efforts.

The announcement by Coinbase caused the virtual currency to surge to a price of $0.337 on January 17th. However, the asset has since retracted and is trading for $0.30 at time of writing, a 5% decrease during the last 24 hours but a 22% increase since earlier this morning when it was trading for $0.240.

Earlier this year, Coinbase announced that it would be adding Hivemapper to its listing roadmap, which the crypto exchange uses to increase transparency with traders and to counter the front-running of digital assets.

At that time, HONEY jumped a staggering 85%, going from $0.129 to $0.232 in just 24 hours.

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This article was originally reported on The Daily Hodl.