GEODNET Achieves Unprecedented Growth in Satellite Mining and Token Value
In 2024, the Solana-based Global Earth Observation Decentralized Network, GEODNET, has experienced remarkable growth, with a staggering 219% increase in active RTK (Real-Time Kinetics) satellite miners. This surge has positioned GEODNET as the leading player in the satellite mining industry, surpassing established centralized competitors like Trimble. By the end of the year, GEODNET has amassed over 12,000 active RTK satellite miners, reflecting a growing demand for decentralized Earth observation and real-time satellite data, which is becoming increasingly critical in various sectors.
A significant highlight for GEODNET in 2024 was the impressive rise in the value and market capitalization of its native token, GEOD. By year-end, the token reached a circulating market capitalization of $62 million, marking a 59% increase quarter-over-quarter and an astounding 524% year-over-year. Notably, a major token unlock on December 28, 2024, involving 32.46 million GEOD tokens, did not negatively impact the token’s price; instead, it rallied post-unlock, showcasing the market’s confidence in GEODNET’s potential. This positive momentum positions GEOD as a serious contender in the decentralized geospatial data arena.
GEODNET’s strategic initiatives in 2024 included securing $2 million in funding from prominent investors like Animoca Brands and ParaFi, which will be used to diversify revenue streams and enhance technology adoption. The launch of the GEO-PULSE GPS receiver, priced at $149, further exemplifies GEODNET’s commitment to delivering precise navigation solutions. Additionally, partnerships with industry leaders such as Septentrio and Bad Elf were announced at CES 2025, aimed at expanding the adoption of GEODNET’s RTK network across various sectors, including autonomous vehicles and precision agriculture. With these advancements, GEODNET is poised for a bright future in the decentralized Earth observation landscape.
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