Parcl (PRCL) token dips as traders take profits
Parcl (PRCL), the native token of Solana-based real estate DEX project Parcl, has dipped 20% in the past 24 hours.
The declines come as traders likely take profits following the notable spike on Dec. 17. At the time of writing, PRCL traded around $0.46, down 20% from its 24-hour peak of $0.58 and off the weekly high of $0.61.
PRCL dumps post Coinbase listing
Coinbase, a U.S based crypto exchange, added its trading support for Parcl (PRCL) on the Solana platform on Tuesday. The exchange opened deposits and withdrawals for the token after listing on both the Coinbase and Coinbase Exchange’s iOS and Android apps.
Parcl (PRCL) is now live on https://t.co/CD3RBjtMAO & in the Coinbase iOS & Android apps. Coinbase customers can log in to buy, sell, convert, send, receive or store these assets. https://t.co/676miKRrfh
— Coinbase Assets 🛡️ (@CoinbaseAssets) December 17, 2024
While Parcl (PRCL) roll-out is limited to certain regions, interest saw its price jump to near $0.60. This came as Bitcoin price rose to its record high near $108k, igniting upbeat sentiment across the altcoin market.
The Coinbase roadmap announcement and the broader market upside meant Parcl trended as one of the market’s top gainers on Dec. 17. However, with sellers taking center stage including for BTC’s slump from the peak, PRCL price has also pared gains.
PRCL price outlook
The recorded low in the past 24 hours for Parcl is $0.45, which came as Bitcoin also dropped from its ATH.
As noted, the real estate related project currently trades at $0.46. Coinbase’s listing and other market conditions could yet see the value of the token rise to its April 2024 all-time high above $0.73.
In the meantime, bulls must defend the $0.40 zone. Parcl market cap is at $101 million, down from $120 million on Tuesday. Daily trading volume has decreased by 47% to about $57.6 million, down from highs of $114 million as price surged.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
ChatGPT’s head of product to testify in the DOJ’s antitrust case against Google
Share link:In this post: ChatGPT’s head of product, Nick Turley, has been added as a witness for the United States Department of Justice (DOJ) in its antitrust case against Google. Nick Turley is the latest addition to the witness list that features representatives from Perplexity and Microsoft. Google ramps up preparation for Turley’s testimony by asking for documents related to the hearing from OpenAI through a subpoena.
SEC charges New York blockchain engineer over GME rug pull fraud
Share link:In this post: Eric Zhu settled SEC fraud claims for orchestrating a rug pull scheme involving Game Coin. Zhu allegedly misappropriated $553K by moving unlocked liquidity provider tokens to his control. The case marks one of SEC Chair Gary Gensler’s final enforcement actions.
Analyst Points to the Next Target on the Horizon After the Surge in Bitcoin: “If This Place Is Breached, The Next Stop Could Be 128 Thousand Dollars”
A crypto analyst has spoken about the next target for Bitcoin’s price after its recent rally. Here are the details.