Ethereum

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 <p>An Ethereum (ETH)-based altcoin that’s flying under the radar is moving against the largely bearish crypto price action this week after surging over 110% in the past seven days.</p>
 <p>Power Ledger (POWR) is a blockchain that’s designed for decentralized and distributed energy markets.</p>
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 <p>The project’s native token, POWR, is trading at nearly $0.737 at time of writing, a massive rise from its weekly low of $0.35. The 171st-ranked crypto asset by market cap is also up nearly 25% in the past 24 hours alone.</p>
 <p>According to Powerledger’s official&nbsp;website, the crypto project aims to aid the decentralization of the energy grid, help transition toward renewable energy and assist consumers in keeping track of their power usage.</p>
 <p>POWR’s gains materialized amid this week’s unveiling of xGrid 2.0, the latest version of Powerledger’s blockchain-enabled energy trading platform.</p>
 <p>The project says the new trading platform has a “modern and minimalistic” user interface (UI) and increased flexibility with demand and percentage-based secondary market power purchase agreements (PPA).</p>
 <p>PPAs are typically used for renewable energy sources and consist of third-party developers installing and operating energy systems on their customers’ properties, according to the U.S. Department of Energy. The customer can receive low-cost energy while the developer gets to sell excess electricity from the system.</p>
 <p>Despite POWR’s gains this week, the token remains more than 61% down from its all-time high of $1.89, which it hit all the way back in January 2018, according to CoinGecko.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/under-the-radar-ethereum-based-altcoin-defies-crypto-doldrums-and-surges-110-this-week-amid-new-product-update-tbt75805.html">https://thebittimes.com/under-the-radar-ethereum-based-altcoin-defies-crypto-doldrums-and-surges-110-this-week-amid-new-product-update-tbt75805.html</a></p>

Under-the-Radar Ethereum-Based Altcoin Defies Crypto Doldrums and Surges 110% This Week Amid New Product Update

TheBitTimes

Other articles published on Jan 7, 2024

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