Solana-Based Parcl Surges After Coinbase Listing
Date: 2024-12-17 Author: Oliver Abernathy Categories: CRYPTO PAYMENTS
US-based cryptocurrency exchange Coinbase has officially announced the addition of Parcl (PRCL), the token of its decentralized real estate trading platform on the Solana blockchain. The listing is scheduled to begin on December 17, starting at 9:00 AM PT, subject to liquidity requirements.
Coinbase will initially offer a PRCL-USD trading pair once sufficient token supply is reached. PRCL transfers will be available on Coinbase and Coinbase Exchange, but the process will be gradual, with restrictions in certain regions.
Parcl is a platform focused on decentralized real estate trading, giving users access to indices in major cities such as New York, San Francisco, and London.
The project allows investing in highly liquid real estate and using leverage up to 50x. Users can speculate on the rise or fall of real estate prices, or use the platform to hedge risks. Asset prices on Parcl are based on indices that reflect the average price per square meter or foot of real estate in specific regions.
Parcl is also a member of the RWA Council, which promotes the development of real assets on the Solana blockchain. Other members of the council include AgriDex, Baxus, and Collector Crypt.
Parcl’s token generation event ended in April 2024, with 800 million PRCL distributed based on a snapshot on April 8.
Coinbase added PRCL to its listing roadmap on December 14, causing a sharp increase in the token’s price. The price reached a multi-month high above $0.60, followed by a small pullback due to a general market correction following Bitcoin’s fall from its all-time high.
PRCL has gained more than 13% in the last 24 hours, once again testing its eight-month high. If the bullish trend continues, the token could aim for its April 2024 peak of $0.73.
