Under-the-Radar Ethereum-Based Altcoin Defies Crypto Doldrums and Surges 110% This Week Amid New Product Update
An Ethereum (ETH)-based altcoin that’s flying underneath the radar is shifting in opposition to the largely bearish crypto value motion this week after surging over 110% prior to now seven days.
Energy Ledger (POWR) is a blockchain that’s designed for decentralized and distributed power markets.
The challenge’s native token, POWR, is buying and selling at practically $0.737 at time of writing, an enormous rise from its weekly low of $0.35. The 171st-ranked crypto asset by market cap can also be up practically 25% prior to now 24 hours alone.
In accordance with Powerledger’s official website, the crypto challenge goals to assist the decentralization of the power grid, assist transition towards renewable power and help customers in holding monitor of their energy utilization.
POWR’s features materialized amid this week’s unveiling of xGrid 2.0, the most recent model of Powerledger’s blockchain-enabled power buying and selling platform.
The challenge says the brand new buying and selling platform has a “fashionable and minimalistic” person interface (UI) and elevated flexibility with demand and percentage-based secondary market energy buy agreements (PPA).
PPAs are usually used for renewable power sources and encompass third-party builders putting in and working power programs on their prospects’ properties, in accordance with the U.S. Department of Energy. The shopper can obtain low-cost power whereas the developer will get to promote extra electrical energy from the system.
Regardless of POWR’s features this week, the token stays greater than 61% down from its all-time excessive of $1.89, which it hit all the best way again in January 2018, in accordance with CoinGecko.
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