This weekend has been pretty depressing for the crypto community and for the markets, with Bitcoin and Ethereum continuing their sharp declines. Despite all this setback, a recently launched Web3 coin called Pmail has risen more than 1800 percent in one day, reaching an all-time high. Let’s take a look at this Web3 coin together and find out why its price has increased.
What is Pmail (PML)?
Released on January 20 Mail Networkdescribes itself as the first Web3-based NFT Mail application. Pmail Network is designed to serve as the primary portal to the blockchain world using Dfinity’s technology.
Pmail aims to empower its users by giving them control of their data and private keys. In addition, users can determine the future of Pmail through their community management system. Pmail is committed to providing users with a permanent mail service without a centralized service while maintaining data integrity and security.
Pmail’s mail services use a unique mail address to identify their users, consisting of a long string that looks like this: [email protected]
These in turn represent the user’s unique on-chain address. Because using long addresses like this is impractical, Pmail includes an Alias system that allows users to change their on-chain address and prevent it from being made public.
Why Did PML Rise?
Pmail’s Web3 mail service is seen as an incredible idea in high demand. Because crypto users no doubt dislike traditional postal services that collect and store user data.
PML current market cap is $72 million with trading volume of over $2 million in the last 24 hours. All volume comes from this DEX as PML is a BEP-20 token currently only available on PancakeSwap.
The current valuation of $72 million is relatively high, and the project Minimum Viable Product (MVP) is also a major driver of today’s bullish momentum, and seeing a project with a different use case than Meme cryptocurrencies or play-to-play Metaverse coins seems to have excited the market.
PML surged over 1800 percent in one day yesterday to its high of $0.0000016. At the time of writing, Web3 coin, which lost some of its earnings, is trading at $0.000013 with an increase of 300% in the last 24 hours.
With the downtrend prevailing in the current crypto market, traders are flocking to newly released coins to protect their money and Pmail seems to have been a popular choice for this weekend.
*Minimum Viable Product (MVP), It is a development technique in which a new product is introduced to the market with essential features sufficient to attract the attention of consumers. The final product is only released after sufficient feedback has been received from the first users of the product.
This technique helps them make the final product much better. With the help of the MVP concept, the research or marketing team will find out where the product is missing or what its strengths or weaknesses are.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.