Coinbase has announced the listing of Parcl (PRCL), a Solana-based decentralized real estate trading platform, set to begin on December 17. The listing will take effect on or after 9:00 AM Pacific Time, depending on liquidity conditions. Coinbase plans to add the PRCL-USD trading pair once there is sufficient supply, with PRCL transfers available on both Coinbase and Coinbase Exchange. However, the rollout will be phased and may be restricted in certain jurisdictions.
What is Parcl?
Parcl is a decentralized platform that provides access to city-specific real estate indexes, including major markets such as New York, San Francisco, and London. It allows users to engage in liquid real estate investment, offering up to 50x leverage for trading. Investors on Parcl can speculate on or hedge real estate price movements, with assets represented by index prices that reflect the average price per square foot or meter of real estate in a given area.
The project is also a member of the RWA (Real World Asset) Council, which aims to accelerate the integration of real-world assets on the Solana blockchain. Other members of the council include AgriDex, Baxus, and Collector Crypt.
PRCL Token Performance
The token generation event for Parcl concluded in April 2024, with 800 million PRCL tokens distributed following the April 8 snapshot. Coinbase’s announcement of the PRCL listing on December 14 coincided with a surge in the token’s price. PRCL reached a multi-month high above $0.60 before experiencing a slight retreat, mirroring Bitcoin’s market dip.
In the last 24 hours, Parcl’s price surged more than 13%, climbing to an eight-month high. If bullish momentum continues, the token could aim for its previous all-time high of $0.73, set on April 22, 2024.
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