HomeAltcoinsEven though cryptocurrencies have been slow recently, an Ethereum-based altcoin has seen...

Even though cryptocurrencies have been slow recently, an Ethereum-based altcoin has seen a 110% increase in value. This Week Amid New Product Update

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A new type of cryptocurrency called an altcoin, which is based on Ethereum, has been doing really well lately. It has gone up more than 110% in the last week, even though most other cryptocurrencies are not doing so well.

Power Ledger (POWR) is a type of technology that helps with buying and selling energy in a fair and equal way.

The project’s own token, POWR, is being bought and sold for almost $0. 737 right now, which is a big increase from its lowest price this week of $0. 35 The 171st most popular cryptocurrency has increased by almost 25% in just the last 24 hours.

Powerledger’s official website says the crypto project wants to help make the energy grid more decentralized, move toward renewable energy and help people keep track of how much power they use.

POWR made gains this week when they introduced xGrid 2. 0, the newest version of Powerledger’s energy trading platform using blockchain technology.

The new trading platform has a simple and modern design. It also has more flexibility with demand and percentage-based power purchase agreements in the secondary market.

PPAs are often used for renewable energy like solar and wind power. This means that outside companies install and run energy systems on their customers’ properties. Energy The customer can get cheap energy and the developer can sell extra electricity.

Despite POWR’s gains this week, the token is still more than 61% lower than its highest value of $1. 89 in January 2018, according to CoinGecko.

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