Populous (PPT) is the shining star in a market that is mainly painted red. The altcoin is up 2.43% on the day and trading at $16.21, however, it tested the resistance level at $18.5 before correcting lower to find balance. The circulating supply for this cryptocurrency is at 37,000,027, while its market capitalization stands at $599,720,563. Consequently, its trading volume in the last 24 hours stands at $40,121,700 at the time of writing.
The entire cryptocurrency market is highly bearish today with of most the coins and altcoins succumbing to declines. The major digital assets like Bitcoin, Ethereum and Ripple are also correcting lower. For instance, Bitcoin price is down 6.16% and trading at $8,213 despite the fact that it traded above $8,700 yesterday. Ethereum price is down 6.42% on the day, besides, it has slipped below $700 and testing the support area at $680. Ripple price, on the other hand, is recording losses of more than 9% while it is also testing a key support area around $0.65. EOS, the asset that was shining throughout the month of April, even recording a new all-time high is the biggest loser among the top ten cryptos with losses of 13.96% and exchanging at $12.21. The general trend is bearish, but the reason for the slump had not been identified at the time of publication. We will keep you updated on the market trends as the week’s trading continues.
Populous (PPT) Price Analysis
Populous price opened the trading session on Wednesday 16 at $18.48. The buyers attempted to push the price above $18.5 but the sellers put their best foot forward leading to lower corrections. The support at $17.5 and $17.00 failed to hold the price, which is currently testing the support at $16.00. On the upside, the 61.8% Fib retracement level with the previous swing high of $18.48 and a low of $14.7 is offering resistance as the price attempts to correct higher close to the 50 Simple Moving Average. On the downside, a short-term support has been highlighted at $16.00, however, if it fails to hold, other lower retracements will offer stronger support towards $15.00.
What is Populous (PPT)?
It is a platform has been developed to create solutions that lead to constant growth as well as improvement of services. It is essentially an inventory as well as a commerce finance platform. The team employed smart contracts, Stable tokens, Z Score formula and the latest features in the blockchain technology to come up with an ecosystem that allows investors and traders to achieve more. Populous was developed using Ethereum Virtual Machine, giving the investor the chance to be part of the larger financial marketplace that was for a long time only available to the wealthy in the society.
The populous (PPT) invoice finance has been gaining traction and is becoming a go-to platform for the investors who desire a P2P (peer-to-peer) system with access to the global invoice trading platform. Besides, it becomes even more attractive because it is built on blockchain Distributed Ledger technology. The trading platform also provides immediate funding that does not involve third parties. The funding is carried out by smart contracts, which also are in charge of releasing payment among other vital actions. It promises a fraud-free invoice trading with zero errors due to the transparency that is accorded to every transaction and backed by a database that is built on the blockchain.