Coinbase Announces Major Token Listing!

July 11, 2023 12:48 pm Comments

Coinbase has just made a very big announcement!

Helium, a decentralized wireless network that aims to be the backbone of the Internet, has seen considerable growth since its introduction and it continues to gain steam with investors, speculators, and crypto enthusiasts.

According to this Coinbase announcement, made on Tuesday, July, 11, the centralized exchange will be listing the Helium (HNT) token as an official asset on the platform on Wednesday, July 12:

Analyst M. Tory Green wrote this very helpful piece on the Helium network and explained its significance:

Helium is a “user-owned internet” that allows private citizens to buy wireless hotspots, provide internet services and receive $ in return. (vs. the traditional internet backbone which is hosted by companies like AT&T). It has deployed nearly 1M devices across 182 counties.

Researchers expect the demand for data to increase 20x over the next 10 years due to the introduction of: Autonomous vehicles, IoT, Smart cities, XR environments, [and the] Metaverse.

Unfortunately, today’s ISPs can’t meet this demand.

High barriers to entry — including substantial capital expenditures and operational expenses, complicated logistics, and regulatory hurdles — have limited the space to a handful of players.

Helium’s price rose slightly on the announcement of the Coinbase listing.

Bitcoin Systemi stressed this point:

Coinbase users will be able to start transferring HNT to their accounts in regions where trading is supported. However, the token can only be sent through the Solana network, otherwise users may lose their funds.

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