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Helium Mobile (MOBILE), the token powering a decentralized wireless network built on Solana, saw a price drop exceeding 10% after its official listing on Coinbase on February 22nd. This news follows an earlier surge of nearly 7% when Coinbase first announced its intention to list the token on its platform.
What is Helium Mobile?
Helium Mobile is a unique service that leverages users’ phones to build and expand a decentralized 5G network. Users who participate in “mapping” the network by verifying its coverage earn MOBILE tokens as rewards. The service positions itself as a cost-effective alternative to traditional wireless carriers, offering lower fees and potentially faster speeds in some areas.
Coinbase Listing and Price Movement:
The MOBILE token reached a seven-day high of $0.0042 on February 22nd, just before its official Coinbase listing. However, following the listing, the price dropped to around $0.0036, reflecting a decrease of over 10%.
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