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Powerledger?s POWR token outmuscles peers on Coinbase debut

Highlights
  • POWR token price up almost 1,200% since its inception.
  • Listing on the US-based platform Coinbase is a strategic move.
  • Powerledger has a raft of projects in North and South America.

Powerledger, the Australian energy trading technology company, soared on its debut on US-based cryptocurrency trading platform Coinbase on November 16.

Powerledger?s POWR token is today (November 18) up 1,195.60% since its inception and its soaring token price came at a time when other cryptocurrencies dipped in a market-wide crash.

According to Powerledger co-founder and Chairman Dr Jemma Green, listing on US-based platform Coinbase was a strategic move for the company, which has projects spread across both North and South America.

?Listing our POWR token on Coinbase allows people in the United States, and other countries to participate in Powerledger?s token ecosystem,? said Ms Green.

Powerledger?s technology is currently in use by the Midwest Renewable Energy Tracking System (M-RETS) to facilitate the trading of Renewable Energy Certificates (RECs). M-RETS tracks generation from renewable resources across all of North America.

Powerledger also has partnerships with companies such as American PowerNet USA, Silicon Valley Power USA, and Clearway Energy Group, which is based in San Francisco.

Earlier this year, Powerledger migrated its own Powerledger Energy Blockchain from Ethereum to a Solana-based blockchain, which is much faster and can support higher transaction throughput.

?Powerledger?s blockchain technology is being used globally for peer-to-peer energy trading, the trading of RECs and to facilitate the trading of energy in a number of different ways. In a sense, you could say that Powerledger?s technology helps turn renewable energy into a form of currency,? Ms Green said.