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Highlights
- One of the salient features of World Mobile Token is its utility in the telecom sector, especially internet services
- WMT crypto is native to the project, with use in payment of fee and incentivisation of nodes
- In the wider crypto world, cryptos have recently staged a muted comeback, with BTC leading the gains
There is no dearth of cryptocurrency projects that keep hitting headlines these days; however, it is their real world utility which decides their long-term price trajectory.
With the start of the new month, cryptos are showing recovery. With Bitcoin (BTC) moving toward the US$32,000 mark and total crypto market cap hitting over US$1.3 trillion, optimism seems to be back.
Which altcoins can shine in the remaining months of 2022? As stated earlier, the utility of any project might be a big factor. One altcoin, World Mobile Token, whose utility has been a topic of discussion, has registered over 10% gains, at the time of writing. Let’s explore the project in detail.
What is World Mobile Token project?
The project talks about providing services like internet and banking to those that are “unconnected”. It seems to be injecting decentralisation in the telecom sector.
The whitepaper on the official website talks about World Mobile Chain. It is said to be a side chain of the popular Cardano blockchain. World Mobile Chain, it is claimed, will have three layers of nodes for specific uses. The Earth Node is to provide blockchain-related services; the Air Node is to give internet access to users; and Aether nodes are for telecom operators.
The project mentions that all nodes have incentivising features for the respective stakeholders. It is also highlighting privacy as one of its focus areas.
Also read: How does Terra 2.0 differ from Terra? How is Luna 2.0 faring?
World Mobile Token (WMT)
WMT crypto is native to World Mobile Token. It is said to be used for staking and rewarding 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 snapshot
The year 2022 has so far been a mixed bag for WMT. The token started with a price of nearly US$0.45 on January 1, and it peaked to nearly US$0.95 by mid-February.
The WMT price trajectory this year has mostly remained in the green. May, however, was a bad month, and the WMT price touched nearly US$0.2. As of writing, WMT was trading at nearly US$0.3, with almost 10% price gain over the past 24 hours.
The market cap of the project is estimated to be over US$70 million. WMT is one of the top 500 assets on CoinMarketCap list.
Data provided by CoinMarketCap.com
Bottom line
World Mobile Token seems to be tapping something unique -- extending telecom services with a pinch of decentralisation. It has the World Mobile Chain, with Cardano as the main network. How the crypto performs in the medium-to-long term might depend on the utility of the project. The token is to be used within the project in staking and other things. So far this year, the WMT crypto has had a good run, except a subdued phase in May.
Also read: Decoding STEPN crypto and its two tokens – GST and GMT
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