200% jump in the price of proxy tokens; What was the cause?
The price of Propy tokens has recently grown by 227% in less than 48 hours. The project, which seeks to take advantage of the Non-Alternative Tokens (NFT) capabilities, seeks to make the process of buying and selling housing cheaper and faster by eliminating intermediaries by creating an interaction between Chinese blockchain networks and the real estate market.
To Report Kevin Telegraph, the popularity of unparalleled tokens peaked during 2021, with some popular collections such as CryptoPunks and the Bored Ape Yacht Club; But these digital images show only a small part of the vast capabilities of unparalleled tokens.
Propi is one of the projects that focuses on using the various capabilities of non-unique tokens and intends to extend the scope of this phenomenon beyond the space of digital artwork. The protocol seeks to bridge the gap between China’s blockchain technology and the real estate industry, and seeks to automate US-related processes to make home purchases faster, easier and more secure.
According to new data, the price of the ProPA token, known in the market as the “PRO” symbol, jumped 227% from the $ 1.12 floor on January 12 (January 22) to 3 on January 14 (January 24). It reached $ 67. The jump in the price of ProPA increased its 24-hour trading volume by 452% to $ 29.3 million.
The addition of PRO tokens to the Quinbase market, the successful sale of the project’s first property in the form of a unique token, and the growth of NFTs’ performance in various areas are among the main reasons for the growth in proprietary prices, each of which we will examine below.
Added to the Quinbase market
The recent jump in proxy prices has been largely due to the addition of the token to the trading base of Kevin Base, the largest digital currency exchange in the United States.
Prior to the launch of Propecia trading in Queens, investors only had access to this digital currency in a few limited exchanges, including Huobi Global, Bitrue, and the decentralized Uni Swap exchange.
Kevin Base is the second largest exchange in the world in terms of trading volume and the largest exchange in the United States. So far, most of the world’s digital currency transactions have come from American investors.
The first NFT-based platform for real estate in the United States
The successful sale of the first property in the complex in the form of a unique token is another reason for the recent jump in the price of props.
In response to why their team chose Florida to make the first sale of a NFT property, Natalia Karayaneva, founder and CEO of the Propi Group, said that because state officials have a good relationship with the digital currency industry so far. Property prices in this part of the United States have the potential to grow, demographic statistics are consistent with prophylactic goals, the labor market is growing, and it is not collected from taxpayers’ income.
Although home sales in Tampa, Florida are being touted as the first NFT-based property deal in the United States, the first sale of a proprietary suite with a unique token dates back to 2017; When Michael Arrington, the founder of TechCrunch Media, sold his apartment in Kiev, Ukraine, for 36 atriums.
The crucial interaction of NFTs and the real estate industry
Increasing the awareness of users about the nature of unparalleled tokens is another reason for the growth of proxy prices.
Making connections between proxy tokens and things like real estate deeds or official contracts has been a topic of discussion for many years among digital currency activists. However, last year, with the expansion of these tokens and the growth of transactions in the NFT trading markets, public awareness of the special capabilities of this technology increased.
In addition to the benefits of counterfeit tokens-related technologies, the volatile state of the global financial system has left investors looking for a way to store the value of their assets, and buying property from the distant past is a safe and reliable way to combat inflation.
Now the interaction between the real estate market, China blockchain technology and unparalleled tokens can literally bring the industry into the 21st century; This is because this cooperation can cut the middlemen out of the housing market and be effective in reducing the costs associated with the real estate buying and selling process.