After an all-time price nadir of $0.10 in February 2019, the Propy (PRO) token is finally rallying. As of the time of this writing, PRO was sitting comfortably at about $0.23, and it has been demonstrating an upward momentum of 1%-5%+ for many days this month.
If you have been holding PRO since its 2017 introduction, you know that what a crazy ride this has been. PRO peaked at well above $5 in early 2018, before riding down to less than 2% of its all-time high price. Some might have thought that PRO was dead, but its steady climb in 2019 has proven that there is still a lot of life in this token. However, why have prices been behaving this way?
Almost All Crypto Prices Crashed in 2018
People called cryptocurrency a “bubble” in 2017; they were right. As impressive as crypto projects’ potential was in 2017, the sky-high prices that people were paying for them were premature. While blockchain protocols like Ethereum may well become world-leading (decentralized) projects in the future, people in 2017 were paying for tokens like their projects were already at the success level of Apple or Amazon.
When prices collapsed, most investors sold every cryptocurrency token that they had. It did not matter how excellent or inferior one blockchain project was compared to another. Investors fled the space, and prices disintegrated.
Propy Token Has a Better Claim at Value Than Many
At this point in 2019, it is clear that these investor fears were as premature as the high crypto prices of 2017. Whereas many of the leading projects of 2017 had yet to release a project, the best crypto assets of 2019 have benefited from two additional years of development and user growth.
Propy is an example of a crypto-based technology system that is fully functional today. It is not one of the ICO bubble coins that rose and fell during the height of crypto mania. Propy is a real company, and its utility token, PRO, has value because the company offers services. Not every crypto project is also a functioning company. For this reason, Propy has a better claim at value than many.
No one can predict where the price of PRO will go in the future. However, because Propy continues to demonstrate its value in the real estate space, we believe that PRO’s future is bright.