Why PLC Ultima (PLCU) crypto skyrocketed nearly 300% YTD?

Highlights

• PLC Ultima (PLCU) is a Litecoin-based blockchain. It had more than 700,000 registered members in over 120 countries in 2021. 
• The PLCU coin’s maximum supply is 11 million.
• It has a market capitalization of US$10.3 billion. 

The PLC Ultima (PLCU) coin rose more than 21% to US$78,074.54 at 6:47 am ET on Monday. Though there is no update backing its rise, the coin drew considerable investors’ attention.

What is PLC Ultima?

PLC Ultima is a Litecoin-based blockchain. Ultima blockchain provides transparency, network stability, and high transaction processing. It also offers the option to upgrade the Segregated Witness protocol. 

The PLC Network began its journey in 2016. Today, it has hundreds of experts working on projects. According to its whitepaper, over half a million people worldwide use the PLCU coin.

The PLC ecosystem has 10 products, including the Platin Hero crowdfunding platform, the PlatinDeal marketplace, the PlatinSale private classifieds platform, the Ultima wallet, and the Ultima Farm app.

The PLC blockchain aims to bridge the gap between cryptocurrency and traditional business. The idea is to solve the problems of online payments. Its business solutions enable merchants globally to sell their products for cryptocurrencies.

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It integrates online stores, POS terminals, marketplaces, payment applications, and exchangers. People already use the coin to buy everyday goods and travel, says the whitepaper. 

It had some 700,000 registered members in more than 120 countries in 2021. Its community includes Ultima product users and those involved in the PLCU brand promotion.

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While more than 90% of bitcoin transactions are driven by market speculation, PLC Ultima aims to be the main entry point for fiat currency with fast transactions and low volatility.

Its goal is to provide everyone access to cryptocurrencies through PLCU. Users can not only buy anything anywhere but produce PLCU coins on their smartphones as well. The PLSU ecosystem allows users to produce, spend, transfer, and store coins quickly and safely.  

Also Read: Why is Chainlink (LINK) crypto gaining attention? 

Data Source: coinmarketcap.com 

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PLCU coin detail:

PLC Ultima’s (PLCU) trading volume jumped 17.48% to US$10.32 million in 24 hours.

PLCU’s self-reported maximum supply is 11 million, and the circulating supply is 133,573.63. Its current market capitalization is US$10.3 billion. 

Currently, it can be traded on LBank, Coinsbit and Bibox crypto exchanges.

Also Read: What is Neo (NEO) crypto?

Bottom line:

Many large corporations have ventured into the crypto space lately. Besides offering payments services, they have launched NFT marketplaces and metaverse projects. In March, Visa Inc said it would allow the use of USD Coin to settle transactions on its payment network.

However, in the absence of proper regulations, the crypto market remains risky. Besides market volatility, it also faces threats from scammers. Hence, investors should apply due diligence before investing in the crypto market.

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