With Bitcoin and Ethereum Price Dropping, This Web3 Coin Gained Over 1800% Today – The VR Soldier

This weekend the markets are incredibly depressed with Bitcoin and Ethereum continuing their steep declines. On the bright side, a recently released Web3 coin called Pmail has gained over 1800% in the last 24 hours. Let’s look at this Web3 coin and see why the price is going up?

What is Pmail (PML)?

Launched on January 20, Pmail Network describes itself as the first Web3-based NFT Mail application. Pmail Network uses technology from Dfinity and seeks to serve as the primary portal to the blockchain world.

Pmail seeks to empower its users by giving them control over their data and private keys. Additionally, users can determine the future of Pmail through their community governance system. Pmail is committed to providing users with a permanent email service without a centralized service while maintaining data integrity and security.

Pmail’s email services use a unique email address to identify its users, which consists of a long string that looks like this:

[email protected]

Represent the unique address on a user’s string. Since it is not possible to use such long addresses, Pmail has an alias system allowing users to replace their chain address and prevent them from exposing it to the public.

Unfortunately, we couldn’t create an account on Pmail because the link returned a 404. Also, the Github link on the official Pmail site didn’t work either.

The good news is that Pmail had a demo that users could check out and set up a test email account on the platform.

Why is the price of Pmail (PML) increasing?

Pmail’s web3 email service is an amazing idea that is in demand. After all, crypto users are not big fans of traditional email services, which no doubt collect and store user data.

PML’s current valuation is $45 million with a 24-hour trading volume of $621,000. Since PML is a BEP-20 token currently only available on PancakeSwap, all volume comes from this DEX.

The current valuation of $45 million is relatively high but logical since the project has a minimum viable product which significantly increases investor confidence. It’s refreshing to see a project with a use case other than Memes or a Metaverse play-to-earn game.

At the time of writing, PML is trading at $0.000016, up over 1800% in the last 24 hours! It seems that with the current crypto bear market, traders are flocking to the newly released coins to hedge their currencies, and Pmail seems to be the popular choice for today.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency.

Read also :

Top 5 Most Popular Metaverse Crypto Coins Built on Polygon (January 2022)

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