Power Ledger POWR

Power Ledger (POWR) Is Up 1,300% In A Month: Here’s What Happens Next

While a large number of ICOs, and especially many of those that have hit the markets during the second half of this year, are dubious in terms of operational activity and reliability of growth claims, some really have the potential to make waves in their target spaces.

One of these, and one that’s garnering a lot of attention right now, is Power Ledger (POWR).

The POWR token currently trades for just shy of $0.70 a piece, up from just $0.05 at ICO back at the end of October. That’s a close to 1,300% run in a matter of weeks. We’ve also seen some dramatic volume spikes over the last ten days. Back on November 21, more than 200 million POWR tokens changed hands. A further 200 million changed hands a couple of days later, on November 23. Today so far (December 1), we’ve seen volume of 100 million coins and this is rising fast.

What’s it all about?

For those new to this one, Power Ledger is an Australian company that’s working to shake up the energy market in (initially) Australia and (eventually) globally. The company has created a blockchain that allows users to trade energy on a sort of peer to peer basis. That is, one energy consumer can trade their energy with another consumer, without the necessity for a third party or middleman to oversee the transaction.


Power Ledger Daily Chart

Power Ledger Daily Chart

Say someone in Australia has a bunch of solar panels on their roof. They generate energy at a particular rate and – right now – they can sell that energy back to the grid to make a bit of money or get a discount on future rates.

Through Power Ledger, however, they don’t need to go through the grid. The person with the panels can sell directly to his or her neighbor, for example, and receive payment virtually instantly for any energy that the neighbor buys.

So what’s causing the run?

Well, over the last month or so, subsequent to the company’s ICO raising $34 million (including around $17 million raised on the back of a presale), it’s enjoyed what basically amounts to blanket coverage in Australian news media.

A whole host of mainstream outlets – 9 News, Solar Media and Money Morning to name a few – have run feature pieces on what the company is doing and how much of an impact it is having (and potentially, could have) on the energy industry right now.

Anyone familiar with the token space will know that this sort of coverage is a golden ticket to upside revaluation and that’s exactly what we are seeing here.

The question now becomes, of course, can it be maintained?

In short, we think yes, it can.

As noted above, this is a company that’s really making waves in its sector right now and it’s one that seems to have established itself very quickly and to a very impressive degree in the sphere of conscience of the Australian business and consumer worlds. The key to expansion now is being able to capitalize on consumer awareness and – on the back of the successful ICO – the company has plenty of capital to do exactly that. In its own words, it’s got a solid war chest that it can now build on to push forward into the energy space it’s targeting.

So what are we looking for next as supportive of this bias?

We want to see some expanded coverage as well as some actionable business advance. The company has been great as far as getting people excited about the product is concerned but we want to see it substantiate this now with a march towards revenue generation.

We will be updating our subscribers as soon as we know more. For the latest updates on POWR, sign up below!

Image courtesy of Power Ledger

Chart courtesy of CoinMarketCap

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.

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Power Ledger (POWR) Is Up 1,300% In A Month: Here’s What Happens Next
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