Released in May 2016, Power Ledger is a blockchain energy trading platform that seeks to disrupt global power markets by leveraging decentralization to exploit gaps in centralized electricity networks. Built on Ethereum, it is a blockchain technology solution that uses smart contracts to cut middlemen out of commodity trading in the energy and environmental sectors. As it decentralizes distribution, it also hopes to democratize production by making it possible for individual solar power producers to sell their excess electricity on open marketplaces in return for cryptocurrency tokens.

The primary Power Ledger token is POWR, an ECR-20 token that enables hosts and participants to interact with the Power Ledger platform. A second token, Sparkz, is used to trade energy on the market. POWR tokens can be used to make new Sparkz tokens, which are issued against escrowed POWR coins.

We have put together everything you need to know in order to get a better understanding of POWR price and how it has performed in the past.

Power Ledger Price History

The price of the POWR token has had a mixed history, with wild peaks and long periods of relative stability. Part of the reason for this is that the token hit exchanges during a time of great volatility during the 2017 bull run for cryptocurrencies. From early November 2017, its price leaped up from below $0.15 to $0.80 inside a month and by late December 2017 it had crossed the $1 threshold with no signs of slowing.

By this time the price of Bitcoin had peaked at just shy of the $20,000 mark but the momentum its meteoric rise had injected into crypto markets continued to push the prices of altcoins upwards. In this extremely bullish environment, the price of POWR shot up towards the $2 mark but peaked just below it, reaching an all-time high of $1.89 on Jan. 7, 2018.

Over the next few months, Power Ledger price followed crypto market trends on their downward spiral, eventually falling below its initial price. At this time, it seemed that Power Ledger price was closely wedded to the price of the market-mover, BTC, but this relationship would not last. The downward trend eventually settled into a period of stagnation that saw POWR value. divorced from the prices of the big cryptocurrencies.

For a little over two years – between November 2019 and January 2021 – POWR price stayed relatively stable. All of its oscillations were contained between highs of $0.13 and lows of about $0.03. It touched down at its all-time low during this period, hitting $0.032 on March 13, 2020. This sideways movement continued for a long time despite project development on the Power Ledger platform, which even saw adoption by power distributors in various countries. This may indicate that, while POWR price may not correlate directly to the broader crypto markets, its trading volume is still somewhat dependent on appetite for cryptocurrencies more generally.

Finally, during the bull run that began in late 2020, the price of POWR also began to gain momentum as it broke through the resistance point at $0.13 in February 2021. After that, it jumped up first to $0.30, pulled back down to below $0.20, then rose steadily with few serious pullbacks until it peaked just short of $0.70 on March 31, 2021. Although it has withdrawn considerably since, it hasn’t yet threatened to retreat to previous lows, having struck a support line just above $0.10.

Analyzing Power Ledger Price History

[guidelink powr] price history can be analyzed with many of the same techniques as the stock market. Technical analysis involves using various indicators while studying price charts in order to make sense of previous price movements. With POWR, as with many other tradable assets, large price swings are often accompanied by spikes in trading volume, as a large number of traders buy or sell their coins on exchanges.

Fundamental analysis, on the other hand, looks at the finances and activities of a company, as well as the state of the wider market and economy. Since it was developed in 2016, the Power Ledger platform has progressed well and is seeing real-world adoption across more than 20 projects in 9 countries. Further adoption of the platform will likely increase demand for POWR and this could have an effect on price action. Moreover, additional project developments that directly impact the use case for the token, such as the introduction of staking, which is currently underway, are also potentially important fundamental factors that could drive demand for POWR and, consequently, its price.

The overall price trend of POWR follows what’s known as a boom-and-bust cycle. This is a pattern in which a period of growing excitement leads to a surge in price before doubt and disillusionment set in and result in a crash.

Factors Influencing the Price of Power Ledger

As is the case with other tradable assets, there is a wide range of factors that can impact POWR price. For example, the total supply of POWR tokens is capped at 1 billion coins, so its price will not be subject to inflation in the same way as fiat currencies and this could potentially make it a desirable store of value.

Network adoption is a clear driver of fundamental demand for the POWR token. This means that news of further adoption by power retailers and suppliers could result in greater demand. Furthermore, as one of the stated aims of Power Ledger is greater decentralization of the energy markets, with a particular focus on renewable energy, it is possible that more people will start using the token because greater numbers of individual households are becoming small-scale power suppliers.

Finally, although the price action of the POWR token has shown some correlation with broader trends in the crypto markets, it has not always been responsive to market movements. This is particularly true of its long stagnation between late 2018 and late 2020 when the price moved sideways even when other crypto markets were exhibiting greater volatility. However, recent Power Ledger price movements do appear to have been driven by corresponding bullish sentiment in the crypto sphere, which was itself a response to events in the wider economy. As such future POWR price action could be subject to trends in crypto markets or the global economy more generally.

Live Power Ledger Value and Market Cap

The market price of POWR varies from moment to moment as it’s dictated by the balance of buyers and sellers on exchanges, which is in constant flux.

The price of POWR has historically gone through periods of both high and low volatility, therefore holders should be aware that its current price can change by a large amount in a relatively short space of time. The market cap of Power Ledger is equal to the price of POWR multiplied by the number of POWR tokens in the circulating supply.

Power Ledger Price FAQ

How is the Price of POWR Calculated?

The price of POWR at any given moment is decided by the balance of supply and demand on exchanges. When more people are buying POWR than selling it, the price goes up, and when more are selling than buying, the price goes down

What Will POWR be Worth in the Future?

It is, of course, impossible to make price predictions with any kind of absolute certainty, as a whole host of different factors could play a role in determining the future Power Ledger value. However, if more people or energy providers choose to use the Power Ledger platform in the future and the number of Power Ledger users goes up, demand for the POWR token will increase. Correspondingly, the POWR price could also see an increase.

Why is the Price of POWR Different on Different Exchanges?

Power Ledger  price is based purely on trading as there is no standard global Power Ledger price, so no one knows what it is “supposed” to cost. The trading volume and liquidity are different for each exchange and those differences are what affect the price.

Conclusion

As the governments of the world look to respond to the threat of climate change, the exchange of environmental commodities such as carbon and renewable energy credits has grown into a flourishing industry. At the same time, more and more people are hoping to generate their own electricity through individual solar panels and community energy projects such as shared home-storage batteries. These are all intersecting points at which Power Ledger’s developers hope to leverage the power of blockchains to decentralize and democratize energy exchange securely and transparently.

Moreover, one should not forget that global energy markets are almost incomprehensibly huge and billions are traded every day. If already promising adoption of Power Ledger continues, this energy trading platform has the potential for extremely encouraging growth.

If you want to get started with the most user-friendly trading experience on the market, register with Kriptomat today to begin your journey into the world of Power Ledger and other cryptocurrencies!