At the best of times in the cryptocurrency market, generating momentum and attracting investor attention can be a challenge, and it’s an even bigger challenge when the markets are restless, as has the entire crypto ecosystem for the past Months was.
Despite the recent downturn, Perlin (PERL), which managed to rebound from a low of $ 0.052 on June 8 to a high of $ 0.134 on June 18, was able to rebound 140% during its average 24-hour trading volume increased from $ 3 million to $ 122 million.
Three reasons for the increase in the price and demand for PERL are the publication of the PERL.eco registration register, the introduction of PerlinX in the Binance Smart Chain and attractive staking options that enable token holders to generate a return with various cryptocurrencies achieve.
Real-world tokenization of biological assets
The PERL rally on June 6th and 14th took place in response to the publication of PERL.eco, the “Planetary Ecosystem Registration Ledger”, which enables the tokenization of real bio-ecological assets.
Introduction of https://t.co/XHApjvv8Cj, the registration ledger for the planetary eco system
Tokenization of real bio-ecological assets
Read more: https://t.co/OISGvY9wgK#WorldEnvironmentDay pic.twitter.com/VfKSCmN6nf
– PERL.eco (@PERL_eco) June 5, 2021
According to the project’s blog page, PERL.eco is an “attempt to democratize the biosphere economy through liquidity pools and tokenization of biodiversity and emission certificates for decentralized financing”.
As an added incentive to hold PERL, airdrops of tokenized CO2 credits are distributed to purses with PERL that can be used by token holders to “offset their carbon footprint or trade the liquidity pool when the token is released” .
PERL is also used as the DAO’s governance token, allowing holders to vote on the distribution and fee model, as well as participate in other important decisions affecting the ecosystem.
Binance Smart Chain Integration leads to lower fees
A second driver of the increased momentum for PERL was the introduction of the protocol DeFi interface platform PerlinX on the Binance Smart Chain (BSC) in mid-April, a step that was taken to lower transaction fees.
Operating on BSC also enabled PerlinX’s liquidity pools to be listed on PancakeSwap and helped increase the number of farming opportunities available to the PerlinX community.
As a further bonus for PERL liquidity providers, the returns achieved with PancakeSwap are paid out in the protocol’s native CAKE token, which can then be paid back into the Perlin pool to earn PERL as a form of compound interest.
For PERL holders who wish to stay on the Ethereum (ETH) network, the PerlinX platform offers several options to generate a return, including simple staking as well as liquidity pools between PERL and Wrapped Ether (WETH), Binance USD (BUSD), Balancer (BAL), Dai (DAI) and USD coin (USDC).
According to data from Cointelegraph Markets Pro, market conditions have been favorable for PERL for some time.
The VORTECS ™ Score, exclusive to Cointelegraph, is an algorithmic comparison of historical and current market conditions derived from a combination of data points such as market sentiment, trading volume, recent price movements and Twitter activity.
As can be seen in the graph above, the VORTECS ™ Score for PERL has been in the green for most of the last 7 days, reaching 67 on June 14th, approximately ten hours before the price rose 100% in the next two days rise .
With the green energy movement and concerns about the increasing amount of carbon dioxide in the atmosphere at the center of global discussions, blockchain projects that offer working solutions like Perlin and its PERL.eco platform could potentially get more attention.
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