The Solana-based Global Earth Observation Decentralized Network, GEODNET, has had an exceptional growth year in 2024, with an increase of 219% in active RTK (Real-Time Kinetics) satellite miners. This has propelled GEODNET to the leading position in the satellite mining industry, surpassing centralized competitors like Trimble and achieving, by my count, the largest RTK network in the world. By year’s end, GEODNET boasts more than 12,000 active RTK satellite miners. This landmark signals something to me: the demand for decentralized Earth observation and real-time satellite data is growing. BREAKING: @GEODNET_ , the @Solana -based Global Earth Observation Decentralized Network, has grown 219% in 2024 to over 12,000 active RTK (Real-Time Kinetics) Satellite Miners. GEODNET has become the world’s largest RTK network, surpassing centralized competitors like Trimble. pic.twitter.com/olJOruJgvl — SolanaFloor (@SolanaFloor) February 6, 2025 Record Growth and Token Success For GEODNET, the most important thing achieved in 2024 was the sharp rise in the value and market capitalization of its native token, GEOD. By the end of the year, the token had reached a circulating market capitalization of $62 million. That was up an impressive 59% quarter-over-quarter and an unbelievable 524% year-over-year. No matter how you look at it, the price trajectory for GEOD has been pretty darn good, with the token nearing its all-time high and looking way too solid for the network not to start being considered a serious player in the game of decentralized geospatial data. One of the largest token unlocks executed by GEODNET took place on December 28, 2024. It was a big one: the company released a total of 32.46 million GEOD tokens, valued at about $7.98 million. Usually, large unlocks like this create a bearish impact on a crypto project’s price due to the large influx of tokens coming into the market. But with GEODNET, the impact was positive, and clearly, that’s the type of impact we like to see when projects unlock tokens. The price of their token, GEOD, didn’t even dip. In fact, it rallied more after the event than it did before. Strategic Funding and Partnerships Fuel Expansion In 2024, GEODNET not only expanded its network and improved the performance of its tokens; it also netted a significant new pile of funding. This came in the form of a $2 million strategic funding round, led by high-profile investors like Animoca Brands and ParaFi. And what is GEODNET doing with this fresh capital? The company has a couple of plans that are mostly about further diversifying how it makes money and deepening the adoption of its technologies. Along with the financial backing, GEODNET presented its latest product, the GEO-PULSE, a GPS receiver retailing for $149. The receiver utilizes the network’s RTK infrastructure to furnish users with navigation that is accurate to within centimeters. Cutting down on jokers like those listed above makes for an efficient tool for users that drive or urban navigate because “everyday” directions in either of those contexts have much more potential to affect lives on a wider scale than the use of GNSS under the circumstances that its specifications were meant to cover when they were first dreamed up. At the end of 2024, GEODNET's GEOD circulating market capitalization reached $62 million, marking a 59% quarter-over-quarter (QoQ) increase and a 524% year-over-year (YoY) growth, nearing its all-time high. pic.twitter.com/nwpAgEm5XX — Nick G (@NickDGarcia) February 5, 2025 The token ecosystem of GEODNET also expanded significantly. The company announced that its GEOD token would span multiple blockchain platforms, with the first additional platform being the Solana blockchain. This announcement highlighted the need for interoperability among various decentralized platforms and applications. While the GEOD token was already being used widely in decentralized applications across the Ethereum ecosystem, this move aimed to ensure that GEOD’s utility would only grow in the future, as it could now also be utilized in applications across the Solana blockchain. Expanding Industry Presence and New Partnerships GEODNET’s presence within the geospatial and satellite sector is steadily increasing, with the company announcing two new strategic partnerships at CES 2025. The partnerships with Septentrio, a frontrunner in advanced GPS technology, and Bad Elf, a recognized provider of GPS and GNSS solutions, signify an important development in GEODNET’s business. Both collaborations are anticipated to enhance the adoption of GEODNET’s RTK network and its innovative applications in numerous sectors, such as autonomous vehicles, precision agriculture, and various other industries. At CES 2025, GEODNET exhibited its diversification in the geospatial industry and placed front and center its partnerships as central to its continued expansion. By buddying up to industry stalwarts like Septentrio and Bad Elf, GEODNET is making a clear play for a top slot in the decentralized Earth observation game, and it is sending an equally clear message that it is all about delivering to the market affordable and dependable geospatial data. Looking Ahead: A Bright Future for GEODNET With its RTK network and product lines on the way to becoming a comprehensive solution for precise geolocation, GEODNET looks to be scaling toward a very bright future. Bolstered by not just one but three recent funding rounds (see “Funding the Future”), the company has positioned itself on a stellar growth trajectory, servicing an innovative part of the ever-expanding geospatial data and satellite mining industries. Between its high-profile partnerships and the introduction of innovative new products like GEO-PULSE (discussed in the next section), GEODNET looks to be well on its way to establishing a high operating profile in the marketplace. Now that GEODNET is firmly established as the biggest RTK network on Earth, 2025 is shaping up to be another year when the company’s profile continues to grow significantly. This is still a comparatively new company, but George alluded to its presence. When the decentralized Earth observation world looks for a leading company, it’s GEODNET; the next watchword in decentralized EOT technology company space. Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news ! Image Source: stlegat/ 123RF // Image Effects by Colorcinch
