Powerledger (POWR Crypto) Current Price Analysis

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Powerledger (POWR) is a blockchain-based platform that enables the tracking and trading of energy, flexibility services and environmental commodities. It aims to provide a market-driven solution for a sustainable and decentralized energy system.

In this article, we will look at the origins, current price analysis, future outlook and news roundup of POWR Crypto.

Origins

Powerledger was co-founded by Dr Jemma Green and John Bulich in 2016 in Australia. Dr Green is the executive chairman of Powerledger, and has a background in corporate finance and electricity market disruption. John Bulich is the technical director of Powerledger, and has experience in blockchain development and property investment.

Powerledger operates on two blockchain layers and uses two tokens, the POWR and Sparkz tokens.POWR crypto is an ERC-20 token that acts as a license required for businesses to access Powerledger’s platform. The Sparkz token is a stablecoin that represents units of energy on the platform.

Powerledger has developed various products for different use cases, such as peer-to-peer energy trading, renewable energy certificates, carbon credits, demand response and virtual power plants. Powerledger has over 30 clients across 11 countries, with representatives around the globe.

POWR Crypto Current Price Analysis

The price of POWR is $0.25 USD, with a 24-hour trading volume of $83.48 million USD. POWR is up by 9.83% in the last 24 hours, and has a market capitalization of $124.51 million USD. POWR ranks #290 among all cryptocurrencies by market cap.

Powr Crypto Current Price Analysis

On weekly timeframe level the price action of $POWR has pumped up from its Horizontal Support level after consolidating in a compression level there making out its equal highs level.

The chart shows that POWR has been on an upward trend since early October, reaching a monthly high of $0.42 USD on 23 Oct 2023. The price has been supported by strong volume and positive news from the Powerledger ecosystem.

Some of the factors that have influenced the price of POWR are:

  • The announcement of Powerledger’s partnership with Zero Hash, a crypto infrastructure platform, to build a fiat-to-crypto on-ramp for Web3 merchants.
  • The launch of Powerledger’s Local Energy Market (LEM) product in India, which allows consumers to trade excess solar energy with their neighbors.

Future Outlook

The future outlook for POWR is optimistic, as Powerledger continues to innovate and expand its platform to new markets and use cases. Some of the potential catalysts for POWR are:

  • The integration of Powerledger’s platform with other blockchain projects, such as Chainlink, Polygon and Solana.
  • The adoption of Powerledger’s platform by more utilities, renewable energy operators, microgrids and property developers around the world.
  • The growth of the decentralized energy sector, which is expected to reach $200 billion by 2025.

Conclusion

Powerledger (POWR) has a positive price performance in the last month, driven by strong volume and news from its ecosystem. It has a bright future outlook, as it continues to innovate and expand its platform to new markets and use cases.

It is one of the leading projects in the decentralized energy sector, which is expected to grow rapidly in the coming years.

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Harsh Panghal
Harsh Panghal

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