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An Ethereum (ETH)-based altcoin that’s flying beneath the radar is shifting in opposition to the largely bearish crypto worth 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 vitality markets.
The mission’s native token, POWR, is buying and selling at almost $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 be up almost 25% prior to now 24 hours alone.
In keeping with Powerledger’s official web site, the crypto mission goals to assist the decentralization of the vitality grid, assist transition towards renewable vitality and help shoppers in preserving observe of their energy utilization.
POWR’s features materialized amid this week’s unveiling of xGrid 2.0, the newest model of Powerledger’s blockchain-enabled vitality buying and selling platform.
The mission says the brand new buying and selling platform has a “trendy and minimalistic” consumer interface (UI) and elevated flexibility with demand and percentage-based secondary market energy buy agreements (PPA).
PPAs are sometimes used for renewable vitality sources and include third-party builders putting in and working vitality programs on their clients’ properties, in response to the U.S. Division of Vitality. The client can obtain low-cost vitality 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 way in which again in January 2018, in response to CoinGecko.
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