🌎 Coinbase Lists Parcl Token for Decentralized Real Estate

Coinbase Lists Parcl Token, Unlocking Decentralized Real Estate Investment

Coinbase has announced the listing of Parcl, a Solana-based decentralized real estate trading platform. The token, PRCL, will be listed on December 17, starting at 9:00 AM Pacific Time, subject to liquidity conditions. The crypto exchange plans to add the PRCL-USD trading pair once there is sufficient supply.

What is Parcl?

Parcl is a decentralized real estate platform that provides access to city indexes, including major destinations like New York, San Francisco, and London. The project enables liquid real estate investment, allowing users to trade with up to 50x leverage. On Parcl, investors can speculate on or hedge real estate price movements. These assets are represented by index prices that reflect the average price per square foot or meter of real estate in a given area.

Parcl is a member of the RWA Council, which aims to accelerate real-world assets on Solana. Other members include AgriDex, Baxus, and Collector Crypt.

PRCL Token Details

Parcl’s token generation event ended in April 2024, with 800 million PRCL distributed after the April 8 snapshot. The token was added to Coinbase’s listing roadmap on December 14, which coincided with a price surge for the token. The token reached a multi-month high above $0.60 before retreating as the broader market mirrored Bitcoin’s dip from its previous all-time high.

In the past 24 hours, Parcl price has soared by more than 13% to retest the eight-month high. If bulls take the initiative, the token’s value could aim for the April 22, 2024 all-time high of $0.73.

Key things to know about Parcl: