Generating momentum and attracting investor attention can be a challenge during the best of times in the cryptocurrency market and it is an even bigger challenge when the markets are choppy like the entire crypto ecosystem has been the past couple of months.
Despite the recent downturn, Perlin (PERL), which has managed to rally 140% from a low of $0.052 on June 8 to a high of $0.134 on June 18 as its average 24-hour trading volume surged from $3 million to $122 million.
Three reasons for the increase in price and demand for PERL include the release of the PERL.eco registration ledger, the launch of PerlinX on the Binance Smart Chain and attractive staking options allowing token holders to earn a yield on various cryptocurrencies.
Tokenizing real-world biological assets
PERL’s rally on June 6 and June 14 came in response to the release of PERL.eco, the “Planetary Ecosystem Registration Ledger” which enables the tokenization of real-world bioecological assets.
Introducing https://t.co/XHApjvv8Cj, the Planetary Ecosystem Registration Ledger
Tokenization of real-world bioecological assets
Read more: https://t.co/OISGvY9wgK#WorldEnvironmentDay pic.twitter.com/VfKSCmN6nf
— PERL.eco (@PERL_eco) June 5, 2021
According to the project’s blog page, PERL.eco is an “attempt to democratize the biosphere economy through liquidity pools and tokenization of biodiversity and carbon credits to decentralized finance.”
As an added incentive to hold PERL, airdrops of tokenized carbon credits will be distributed to wallets holding PERL which can be used by token holders to “offset their carbon footprint or trade on the liquidity pool when the token is released.”
PERL will also be used as the governance token of the DAO, enabling holders to vote on the distribution and fee model as well as participate in other important decisions that affect the ecosystem.
Binance Smart Chain integration leads to lower fees
A second driver of…