Power ledge (powr) is a fairly new crypto coin that has recently seen impressive price action, over 700% price increase over the past few weeks (8 cents to over 60cents)... but is this just a fad or a legitimate long term prospect?
A quick synopsis of Powr, taken from their website:
Power Ledger allows for each unit of electricity to be tracked from the point of generation to the point of consumption within the building it is generated, or when sold to other consumers, using the local electricity distribution network. Blockchain technology couples a tracked energy transaction with a financial one, making the process of realising the value of renewable energy investments simple and secure. Power Ledger allows renewable energy asset owners to decide who they want to sell their surplus energy to and at what price. Energy traded across the distribution network is tracked providing a secure revenue stream for DNSPs.
There's plenty of information out there about what Powr does, so I don't care to harp on that too much, but rather what are the main reasons its price action, and why it's likely sustainable, as I see it
It's a unique coin offering a unique value proposition.
It's not another ethereum or neo clone, it's not another coin trying to be the most privateist coin of them all, it's not one of the hundreds of coins trying to be a currency. POWR has no real competitors at the momentIt solves a real world problem
Electricity, or lack there of, is a real world problem for many folks in underdeveloped countries, and in developed countries there is an over abundance of access to electricity. Unfortunately energy providing companies by and large have a monopoly on the utility markets in their respective regions, and can therefore charge higher premiums than they would be able to in a normal market. POWR solves this issue by allowing decentralized P2P exchanging of electricity from provider to user. Individuals with access to excess energy can monetize that potential energy by providing it to those who cannot afford the premiums charged by utility monopolies.The team
This is really what should inspire confidence in POWR. The two power players on their team are Bill Thai and Dr. Jemma Green. Their background is out there for those privy enough to look, which is the purpose of this article (raise awareness of POWR and why it's likely a good cryptocurrency)
In short, Bill Thai is a renowned venture capitalist and part of the World Economic Forum’s Technology Pioneer Committee. He's an investor and adviser for POWR, and when people with his history invest in something, it's worth noting.
Jemma Green is the mayor of Perth, Australia, and has a pedigree in the utility industry. As mayor of Perth, and member of POWR's team, she has strong political ties and a platform to spread POWR's adoption. That's kind of a big dealListed on Bittrex
This doesn't seem like a big deal as there's plenty of not so hot coins on bittrex. But after being scrutinized by the US government, bittrex has raised the bar when it comes to vetting and accepting new coins on their exchange. If a coin is newly listed on bittrex, it is still subject to fail obviously, but it has been thoroughly vetted and deemed fit for trade, whereas previously they could accept any coin that popped its head up.POWR is only listed on Western exchanges (I think binance counts as a western exchange these days...)
This is a subtle but important point... It still has a large market its not exposed to, and if/when it hits the large asian exchanges it would be reasonable to assume the price will increase.
I think the unique value proposition and team behind POWR, make this a coin with a promising future and one you should keep your eye on
But should you invest now? Well POWR has surged to all time highs, almost tripling over the last 48 hours. The hype is real, but generally such quick spikes are not sustainable, and a healthy 50percent correction is likely coming after it peaks.
If you're long on POWR and have some fomo, I think it's fine to buy at these prices and hodl
However if you're a bit patient, I think there's a very high chance there will be a price drop and offer a better buy opportunity for the long term, or a simple swing trade.
#DYOR, but I think this coin has massive potential, and given its only about 2 months old, there's still opportunity to get in plenty early
-best