Powerledger's POWR token debut on Coinbase leads to price increase.
Powerledger’s blockchain-based token POWR has skyrocketed in value since its inception to a near all-time high after its debut on Coinbase on November 16. This Price hike occurred at a time when other cryptocurrencies dipped in a market-wide crash.
Listing on the United States-based cryptocurrency trading platform Coinbase is a welcome development for Powerledger, as Coinbase has over 73 million users and a quarterly traded volume of $327 billion. This coincides with Powerledger's current expansion of projects in both North and South America.
“Powerledger has projects in the United States and South America. Listing our POWR token on Coinbase allows people in the United States, and other countries to participate in Powerledger’s token ecosystem,” said Powerledger co-founder and Chairman Dr Jemma Green.
Powerledger is in partnership with the Midwest Renewable Energy Tracking System (M-RETS) to facilitate the trading of Renewable Energy Certificates (RECs) across North America.
M-RETS tracks generation from renewable resources across all of North America, serving as a trusted centralized gateway to compliance and voluntary environmental markets to make it easier to track RECs through one system.
“Powerledger’s blockchain technology is being used globally for peer-to-peer energy trading, the trading of RECs and to facilitate the trading of energy in a number of different ways. In a sense, you could say that Powerledger’s technology helps turn renewable energy into a form of currency,” said Ms Green.
Earlier this year, Powerledger migrated its own Powerledger Energy Blockchain from Ethereum to a Solana-based blockchain, which is much faster and able to support a higher transaction throughput.
The new Powerledger Energy Blockchain allows for the anticipated expansion of projects, on top of the more than thirty projects in eleven countries which included some of the largest utilities, developers, validators and businesses globally.
You can view our POWR listing on Coinbase here: coinbase.com/price/power-ledger