A decentralized real estate trading platform built on the Solana (SOL) smart contract network experienced fluctuations in its price after receiving support from Coinbase.

Two days ago, on the social media platform X, the leading US-based cryptocurrency exchange announced that it had added Parcl (PARCL), a decentralized exchange (DEX) that enables users to trade and invest in real estate through synthetic assets without the need to physically own any property.

Synthetic assets are tokenized, blockchain-based representations of real-world assets such as securities and real estate, which can be easily exchanged.

Following the announcement, the price of the token saw a drop, falling from a peak of $0.586 on December 17th to a low of $0.408 just two days later. As of the time of writing, PARCL is trading at $0.418, marking a 9% decrease over the last 24 hours.

On December 15th, Coinbase added PARCL to its listing roadmap, indicating that support would be added soon. At the time, the announcement from the crypto exchange triggered a 50% rally in the altcoin, which was priced at just $0.33 on December 10th.

PARCL aims to offer traders global city indexes—including major cities such as New York, Miami Beach, San Francisco, Austin, Los Angeles, Chicago, and Dubai—and allow them to acquire tokens that represent a stake in a specific index.

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox.

Check Price Action

Follow us on X, Facebook, and Telegram

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should conduct their own due diligence before making any high-risk investments in Bitcoin, cryptocurrency, or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is it an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney