The web3 <a href="https://crypto.news/learn/real-estate-tokenization/">real estate</a> platform, Propy, gained traction in the past 24 hours as its native utility token, PRO, rises significantly.&nbsp; 
According to data provided by CoinMarketCap (CMC), the recent hike comes with a notable increase in the asset’s 24-hour trading volume, rising by around 1,740% and reaching $4.7 million. 
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Moreover, PRO is up by 55% in the past 24 hours, trading at $0.42 when writing. The asset’s market capitalization has reached roughly $42 million. It ranks 407 on CMC. 
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 <img decoding="async" width="1173" height="525" src="https://crypto.news/app/uploads/2023/07/PRO-price-July-6.png" alt="Propy price skyrockets with high trading activity - 1" class="wp-image-14176486">
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 PRO price – July 6 | Source: <a href="https://coinmarketcap.com/currencies/propy/" target="_blank" rel="noopener">CoinMarketCap</a>
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On July 5, PRO witnessed a 77% rise with its price reaching the $0.57 mark after consolidating between $0.26 and $0.28 over the past week. Per CMC, PRO’s return on investment (ROI) shows the red zone — down by almost 50%. 
The analysis <a href="https://www.investorsobserver.com/news/crypto-update/should-you-buy-propy-pro-wednesday" target="_blank" rel="noopener">provided</a> by InvestorsObserver puts PRO as a high-risk asset — this usually happens because of a massive rise in a token’s trading activity — since the crypto is already down by over 20% from its local top. 
Furthermore, on-chain data also shows that the number of PRO holders is still the same, with 12,537 unique addresses, despite its significant growth. 
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio">
 <div class="wp-block-embed__wrapper"> <iframe loading="lazy" title="Top 3 Blockchain Real Estate Gems" width="1020" height="574" src="https://www.youtube.com/embed/GEWoHR_4-zQ?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe> 
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Propy <a href="https://crypto.news/propy-completes-real-estate-transaction-using-blockchain/">completed</a> its first trial blockchain transaction in January 2020 and has been allowing users to transparently transfer the ownership of their real estate with the help of blockchain technology. 
However, Propy is not the first to enter the decentralized real estate industry. Last month, a French real estate company called Apsys <a href="https://crypto.news/french-real-estate-company-expands-crypto-payments-offering/">announced</a> the integration of cryptocurrencies with the help of the fintech company called Lyzi. 
 Read more: <a href="https://crypto.news/coinbase-exec-unearths-320k-in-crypto-returns-it-to-oblivious-owner/"> Coinbase exec unearths $320k in crypto, returns it to oblivious owner </a>

Propy price skyrockets with high trading activity

crypto.news

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