If you hold it, Propy is likely the recent hero of your portfolio. Yesterday, the Seattle-based Exchange Bittrex listed Propy (PRO) on their exchange. PRO experienced a parabolic >100% jump. Interestingly, Propy—at the time of publishing—continues to hold its new price. Propy has not been at its current price point since late January 2018.
Propy was created to solve problems in international real estate transactions. The project utilizes an online platform for purchasing real estate and transferring the Propy asset. Ultimately, Propy would like to create a real estate registry called the ‘Propy Registry’. According to the whitepaper “the Propy Registry will mirror official land registry records in which transfers of real estate are recorded.” Their eventual goal is to have their registry adopted by cities to keep track of property transactions and ownership.
It will be interesting to see if Propy can hold such a parabolic move, usually, crypto assets would have experienced a correction by now. If anything, this shows how significant a listing on a major exchange is for a crypto asset’s valuation.