What is PlayDapp (PLA) crypto? Why its trading volume rose over 900%?

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What is PlayDapp (PLA) crypto? Why its trading volume rose over 900%?

 What is PlayDapp (PLA) crypto? Why its trading volume rose over 900%?
Image source: © Tarikvision | Megapixl.com

Highlights:

  • PlayDapp is a gaming platform and customer-to-customer (C2C) NFT marketplace.
  • PlayDapp’s core utility token is PLA, an ERC-20 token. 
  • The token rose 21.99% to US$0.4335, with 953.32% jump in trading volume on Friday. 

PlayDapp (PLA) token was trending on Friday ahead of the closing of one of its two ongoing events on July 3. The token soared 21.99% to US$0.4335 at 1:07 pm ET on Friday, while its trading volume increased 953.32% to US$493.95 million.

Last month, PlatDapp announced its Marketplace Renewal Event with prizes worth US$10,000. 

PlayDapp updated the marketplace with a better response time on the website. It introduced a new graphical interface, besides optimizing the search engine with more options. Now, users can easily locate the items they want to get the best deal. 

The token gained traction in the backdrop of the two events PlayDapp is conducting. One of them is for traders with prizes in PLA tokens worth US$7,000. The event will end on July 17.

The company will award the top 200 traders who purchase NFTs on its marketplace and earn event points.

The second event is for reviewers and commentators with a prize pool of US$3,000 worth of PLA tokens. It will conclude on July 3. The rush for rewards may have pushed the token price higher. The participants must comment on the pros and cons of the marketplace on the company’s Twitter page to earn rewards. It will reward US$1 worth of tokens to each of the first 1,000 participants. 

What is PlayDapp (PLA) crypto?

PlayDapp is a gaming platform and customer-to-customer (C2C) NFT marketplace. The platform allows users to play games without using cryptocurrency. PlayDapp also provides interoperability. It means developers can change apps into DApps and various items into NFTs to gain interoperability between games and metaverse. 

Data Source: Coinmarketcap.com

PLA Token:

PLA is PlayDapp’s native and core utility ERC-20 token. It is used for purchasing NFTs and other items in the gaming ecosystem and on playdapp.com, its C2C marketplace.

Its current market capitalization is US$183.5 million.

The circulating supply is 423 PLA, and the total supply is 700 million PLAs. Binance, MEXC, Gate.io, Kraken, and Huobi Global are some exchanges offering the PLA token for trading.

Bottom line:

The crypto market is extremely volatile; investors should exercise caution while investing in digital assets.

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