What is World Mobile Token and how did the WMT crypto get away with it?

There is no shortage of cryptocurrency projects that continue to make headlines these days; however, it is their real-world utility that determines their long-term price trajectory.

With the start of the new month, cryptos are showing a recovery. As Bitcoin (BTC) approaches the US$32,000 mark and the total crypto market capitalization reaches over US$1.3 trillion, optimism appears to be returning.

Which altcoins can shine in the remaining months of 2022? As stated earlier, the usefulness of any project can be an important factor. One altcoin, World Mobile Token, whose usefulness has been discussed, has seen gains of over 10%, at the time of writing. Let’s explore the project in detail.

What is the World Mobile Token Project?

The project talks about providing services like internet and banking services to those who are not connected. It seems to inject decentralization into the telecommunications sector.

The white paper on the official website talks about World Mobile Chain. It is said to be a side chain of the popular Cardano blockchain. The global mobile chain, it is claimed, will have three layers of nodes for specific uses. The ground node must provide services related to the blockchain; the Air Node is to give Internet access to users; and Aether nodes are for telecom operators.

The project mentions that all the nodes have incentivizing features for the respective stakeholders. It also highlights privacy as one of its focus areas.

Read also: How is Terra 2.0 different from Terra? How is Luna 2.0?

Global Mobile Token (WMT)

WMT cryptography is native to World Mobile Token. It is said to be used for staking and reward purposes. The maximum supply of WMT is capped at two billion tokens.

World Mobile Token is listed on exchanges like MEXC and KuCoin.

WMT Price Overview

2022 has so far been a mixed year for WMT. The token started with a price of nearly US$0.45 on January 1 and it peaked at nearly US$0.95 in mid-February.

WMT’s price trajectory this year has remained mostly in the green. May, however, was a bad month and the price of WMT reached close to US$0.2. At the time of writing, WMT was trading near US$0.3, with a price gain of almost 10% in the last 24 hours.

The market capitalization of the project is estimated at more than 70 million US dollars. WMT is one of the top 500 assets on the CoinMarketCap list.

Data provided by CoinMarketCap.com

At the end of the line

World Mobile Token seems to be harnessing something unique: expanding telecommunications services with a dash of decentralization. It has the global mobile chain, with Cardano as its main network. The performance of the crypto in the medium and long term may depend on the usefulness of the project. The token should be used within the project for staking and other things. So far this year, the WMT crypto has had a good run except for a subdued phase in May.

Read also: Decoding the STEPN crypto and its two tokens – GST and GMT

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Casey J. Nelson