On Wednesday Power Ledger (POWR) gained listing on Bithumb, the largest cryptocurrency in Korea. The announcement tweet from Bithumb’s confirmed the listing of the token alongside TenX (PAY), Gifto (GTO), Loopring (LRC) and Wax (WAX). This comes as the coin regained it place in the top 100 coins at position 94 after shortly falling off at the start of the April.
The Power Ledger platform
Power Ledger Pty Ltd., the creators of the Power Ledger network, started idea of building the energy saving platform back in early 2016. The team sought out to solve the problems crippling the energy ecosystem mainly focusing on distributing energy, reforming the energy incentive programs and transfer of funds in the multi-billion dollar industry.
“The Power Ledger Token (POWRTM) is the fuel of the Power Ledger Ecosystem with bespoke private trading applications creating Sparkz in exchange for POWRs. Sparkz are currently purchased and redeemed using fiat currencies with individual trading platforms hosting closed-loop exchanges for energy and Sparkz.”
Once a coin is ranked in the top 100 coins and gains listing on some of the top cryptocurrency exchanges, the effect rapid adoption dims out evenly per addition. However, POWR holders will have reason to believe that this particular listing is strategic to their hopes of hitting the $1 mark by the end of the year.
Checking the highest trading markets of POWR token, Upbit leads the charts with over 40% of the daily volume traded. Most of the trades happen in Korean Won (POWR/KRW) showing the interest Koreans have in the token. The act of listing POWR on Bithumb, the largest cryptocurrency exchange in Korea, will increase the overall adoption in the country even further.
The numbers of POWR token
Power Ledger (POWR) saw its 24 hour volume traded reach all-time highs on Wednesday morning, May 16, 2018. POWR saw its 24 hour volumes breach the $50 million mark for the third time only since February. The increased trading on the coin is showing a strong signal in investor’s willingness to sell. The hourly RSI has crossed the optimum sell signal as it oscillates between 24 and 35 for the last 24 hours. The coin is however stable at the moment as it expects an increase in adoption with the recent addition to one of the largest exchanges in the world.
Power token (POWR) is currently trading at $0.5171 USD, representing 4.19% increase in the last 24 hours signifying a slight bullish trend on the token. The token is performing even better on its BTC trading pairing, climbing 9.14% in the last 24 hours (0.00006278 BTC). Upbit & Binance represented the highest trading volumes of POWR at press time. The two exchanges traded 43.81% and 27.80% of the total daily volume $56.4 million USD worth of POWR as per Coinmarketcap. The token is ranked 94th on Coinmarketcap with a total market cap value of $190 million.