Why is real-estate-focused Propy (PRO) crypto rising?

April 14, 2022 06:50 AM PDT | By Rupam Roy

Why is real-estate-focused Propy (PRO) crypto rising? — Image source: © Kanawat | Megapixl.com

What is Propy (PRO) token and why is it rising?

Propy is a decentralized marketplace for real estate transactions. It is taking the platform to a whole new level through its innovative services. The blockchain platform aims to facilitate real-time unified transactions and reduce fraud and redundancy.

PRO, an Ethereum-based token, is the native utility coin of the Propy ecosystem. It is used to pay platform fees and modify or make title and deed contracts.

Also Read: Is Ethereum (ETH) rallying on Merge update? When is it happening?

Propy brings real-estate agents and buyers on a single, secure, and unified Ethereum-based platform. Notably, the platform made the first real estate blockchain transaction in 2017.

The real-estate platform allows users to tokenize lands with ease while focusing on the clients' satisfaction. Its clients include both retail and institutional investors. Also, Propy uses non-fungible tokens (NFTs) to replace outdated transaction processes in the real-estate sector.

Also Read: Why is VeThor Token (VTHO) crypto jumped 299% today?

The crypto has gained significant traction in the market on Thursday, close on the heels of several announcements by the company. The company has recently announced selling a Tampa condo NFT for 215,000 USDC. More than 1000 people were on the waitlist for the auction, but only 66 of them got KYC approval, with one acceptable buyer.

Also Read: Why is metaverse-focused Meta Ruffy (MR) crypto rising?

Propy (PRO) crypto price and performance Data Source: CoinMarketCap.com

Bottom line:

The PRO token was priced at US$1.97 at 8:42 am ET on April 14, up 50.39%, while its volume for the trailing 24 hours skyrocketed 918.61% to US$8.70 million. It has a market cap of US$145.27 million, and its fully-diluted market cap is over US$192.64 million.

With a total supply of 100 million, the token's current circulating supply is over 73.85 million. It returned 160.22% gains in the past 12 months while increasing 57.69% in the last 30 days.

The token saw the highest price of US$4.43 and the lowest price of US$0.144 in the last 52 weeks. It is available on exchanges such as Huobi Global, Coinbase Exchange, Bitrue, etc.

Also Read: Why is Polygon (MATIC) rising? Does it have a Robinhood connection?

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