As the cryptocurrency market stagnates this week, shedding 0.78% overall for the day, crypto coin Prosper (PORS) is bullish, rising 19.55%. This brings the PROS price to $0.998 (PROS/USD), temptingly close to the $1 level.
What does prosperity look like at the moment?
This is big news for this particular coin as today’s price is one of the highest it has achieved this year. The coin has actually been a lot higher lately, hitting $1.90 last Friday. The price had skyrocketed over a few days and then fell just as quickly, but not as far. In other words, Prosper is holding on to some of the gains it made this month in an amazing uptrend.
While many cryptos are treading water and showing little sign of progress over the past month, Prosper is doing fantastically well, posting some of the highest rates ever. We haven’t seen prices of $1.90 for this coin since late last year. Does this mean that Prosper will start a new uptrend and rise steadily in the coming weeks?
Where is wealth headed?
For now, the coin is doing a lot of business, and all signs point to a healthy path. Trading volume is up a staggering 168% on the day, trading $33.5 million in that time. Although this coin only ranks 602nd, we expect that to change very quickly and we are confident that thanks to the high trading volume, there aren’t just a few whales making the moves.
While Prosper could soon break above $2 thanks to its current high activity, we expect it to be a little closer to $1.50 in the coming days. Excitement for the coin could die down quickly unless a major change occurs.
However, investors should be cautious with this token as there appears to be no white paper and little transparency on the coin compared to some of the more secure, more well-known coins. With smaller coins like this, the risk of a volatile market is dramatically increased compared to larger coins, so investors should approach this with due caution.
Source: Crypto News Deutsch