The Hivemapper project has generated significant interest in the decentralized mapping and data economy space. This article provides a detailed look at the current market performance of its native token, HONEY, including real-time price data, trading volume, market capitalization, and key supply metrics.
What is Hivemapper (HONEY)?
Hivemapper is a decentralized global mapping network powered by contributors who use dashcams to collect fresh street-level imagery. Participants are rewarded with HONEY tokens for their contributions, creating a crowdsourced alternative to traditional mapping services. The network aims to provide constantly updated, high-quality maps for various applications.
Hivemapper HONEY Real-Time Price Data
As of the latest update, the current price of Hivemapper (HONEY) stands at $0.0174697. Over the past 24 hours, the token has experienced a slight decline of 0.98%, with a more minimal change of 0.14% in the most recent hour.
For those tracking longer-term performance, HONEY has decreased by 12.37% over the last seven days and shows a more significant decline of 32.56% over the past month. These fluctuations reflect both market conditions and project-specific developments.
Detailed Market Performance Analysis
24-Hour Trading Activity
The 24-hour trading volume for HONEY is approximately $878,815, indicating moderate market activity. During this period, price movements have fluctuated between a low of $0.0173579 and a high of $0.0180714, demonstrating the token's current trading range.
Historical Price Context
Understanding HONEY's current price requires historical context. The token reached its all-time high of $0.376287 on December 12, 2023, while its lowest recorded price was $0.0084962 on July 17, 2023. These historical benchmarks help investors assess the token's potential price trajectories.
Market Ranking and Valuation Metrics
Hivemapper currently holds the #520 position in overall market capitalization rankings among cryptocurrencies. With a market capitalization of $77,800,088, the project maintains a notable presence in the blockchain sector.
The fully diluted valuation, which accounts for all potential tokens in circulation, stands at $112,940,693. This metric provides insight into the project's potential market value once all tokens are released.
Token Supply Distribution
The supply mechanics of HONEY tokens play a crucial role in understanding its market dynamics:
- Circulating Supply: 4,453,442,911 HONEY tokens
- Total Supply: 6,464,966,059 HONEY tokens
- Maximum Supply: 10,000,000,000 HONEY tokens
This distribution indicates that approximately 44.5% of the total possible supply is currently in circulation, with room for additional token releases according to the project's emission schedule.
Price Performance Trends
Examining HONEY's performance across different timeframes reveals important trends:
- 30-Day Change: -32.56%
- 200-Day Change: -81.78%
- 1-Year Change: -70.24%
These figures suggest that despite recent challenges, the token maintains activity within the decentralized physical infrastructure networks (DePIN) sector. For those interested in deeper market analysis, explore more strategies for evaluating similar projects.
Factors Influencing HONEY's Price
Several factors contribute to HONEY's market performance:
- Network Growth: The expansion of Hivemapper's mapping coverage and participant base
- Market Adoption: Integration of Hivemapper data by applications and services
- Cryptocurrency Market Trends: Broader digital asset market movements
- Project Developments: Technical updates, partnerships, and roadmap progress
- Reward Mechanism Adjustments: Changes to token distribution for mapping contributors
Understanding Hivemapper's Value Proposition
Hivemapper's unique approach to decentralized mapping creates a compelling use case for the HONEY token. By incentivizing real-world data collection through token rewards, the network aims to build a comprehensive, up-to-date global map that competes with traditional centralized services.
The project represents part of the growing DePIN (Decentralized Physical Infrastructure Networks) sector, which uses blockchain technology to coordinate and incentivize the development of physical infrastructure.
Frequently Asked Questions
What determines the price of Hivemapper HONEY?
The price of HONEY is primarily determined by market supply and demand dynamics on cryptocurrency exchanges. Factors include network growth, mapping data quality, overall cryptocurrency market trends, and project-specific developments that affect investor sentiment.
How can I track HONEY price in real-time?
You can monitor HONEY's price through major cryptocurrency tracking platforms and exchanges that list the token. These platforms provide real-time price data, historical charts, trading volume information, and relevant market metrics updated regularly.
What is the long-term potential for Hivemapper?
Hivemapper's long-term potential depends on widespread adoption of its decentralized mapping data, expansion of its contributor network, and successful competition against established mapping services. The project's unique reward mechanism and community-driven approach position it uniquely in the market.
How does Hivemapper compare to traditional mapping services?
Unlike traditional services that rely on proprietary data collection vehicles, Hivemapper uses a crowdsourced model where participants contribute data using dashcams in exchange for HONEY tokens. This approach potentially allows for more frequent updates and broader coverage.
What are the main risks associated with HONEY investment?
Like most cryptocurrencies, HONEY carries market volatility risk, regulatory uncertainty, and project-specific challenges including competition from established mapping services, technological hurdles, and the need to achieve sufficient network coverage to be valuable.
Can I earn HONEY tokens without investing money?
Yes, participants can earn HONEY tokens by contributing to the network through mapping with compatible dashcams. This allows individuals to obtain tokens through active participation rather than financial investment.
Conclusion
Hivemapper represents an innovative approach to decentralized mapping infrastructure through its HONEY token economy. While current price metrics show various degrees of negative performance across different timeframes, the project's unique value proposition in the DePIN space continues to attract attention. As with any cryptocurrency investment, thorough research and understanding of both the tokenomics and the underlying technology are essential. For those looking to view real-time tools for tracking HONEY and similar assets, several platforms offer comprehensive market data and analysis capabilities.
Market statistics are updated regularly to provide accurate information, though investors should always verify data across multiple sources before making financial decisions. The dynamic nature of cryptocurrency markets means that prices can change rapidly based on both broader market conditions and project-specific developments.