A decentralized real estate trading platform operating on the Solana (SOL) smart contract platform recently experienced fluctuations in its price following a surge of support from Coinbase, a prominent US-based cryptocurrency exchange.
Just two days ago, Coinbase announced on X that it had integrated Parcl (PARCL), a decentralized exchange (DEX) that enables users to trade and invest in real estate using synthetic assets. These synthetic assets are digital representations of real-world assets like securities and properties, allowing for easy trading without the need for physical ownership.
Upon news of the integration, the price of PARCL initially peaked at $0.586 on December 17th before dropping to a low of $0.408 just two days later. Currently, PARCL is trading at $0.418, reflecting a 9% decrease in value over the past 24 hours.
Coinbase had hinted at the addition of PARCL to its listing roadmap on December 15th, sparking a 50% surge in the altcoin’s value. Prior to this, PARCL was trading at just $0.33 on December 10th.
The primary objective of PARCL is to provide traders with access to global city indexes, including major cities like New York, Miami Beach, San Francisco, Austin, Los Angeles, Chicago, and Dubai. Users can acquire tokens representing a stake in a specific index, offering a unique opportunity for real estate investment through blockchain technology.
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As the crypto market continues to evolve, platforms like PARCL are paving the way for innovative investment opportunities in the real estate sector. Stay tuned for more updates and insights from The Daily Hodl.
[Image Credit: Midjourney]