Here’s Why PLUME is Up Over 30% Today

PLUME, the native token of the Plume Network, has seen a remarkable increase in its recent price. According to data from CoinGecko, the crypto asset trades at $0.02978, up by over 30% in the last 24 hours. However, the asset slightly decreased to 17% at press time.

The recent surge follows as Upbit, South Korea’s largest crypto exchange, listed the token for trading. Additionally, the spike comes amid a slight recovery in the crypto markets. Major coins like BTC, ETH, SOL, and BNB are gaining momentum.

Price Performance Shows Upward Momentum

PLUME’s trading volume of more than $169.6 million demonstrates strong investor confidence in the asset and its market interest. The digital asset has a market cap of $93.511 million. While PLUME currently trades above 16%, the asset has gained over 3.5% in the past few days. 

Aside from the Upbit exchange, the token can be traded in other centralized platforms like Binance, MEXC, Bybit, Bithumb, Bitget, etc. It is also available on a few decentralized exchanges.  

Founded in 2023, the Plume Network is a molecular blockchain tailored particularly for tokenizing and managing real-world assets (RWAs). These tokenized assets include commodities, credits, and ETFs, which can be used across DeFi for staking, lending, and trading.

Plume pUSD as the Ecosystem Stablecoin 

Additionally, the network has built-in tools that help it follow rules. These tools are part of the network’s core design. They make it easier for the network to meet regulatory requirements. As such, the network can work more smoothly and efficiently with regulators and legal standards.

Furthermore, it uses technology from Arbitrum, a Layer 2 scaling solution for Ethereum, to provide security, scalability, and interoperability. It allows efficient cross-chain asset transfers. Since it’s compatible with the Ethereum Virtual Machine (EVM), it enables easy connectivity with other EVM-based networks and tools. 

Plume USD (pUSD) is the stablecoin used in the Plume ecosystem. It’s the primary token for making payments, trading, and providing collateral. Every pUSD is backed by an equal amount of USDC, which helps keep its value steady. It is not an algorithmic stablecoin. Instead, it works directly as a wrapped version of USDC, making it easy to understand and less risky. 

Free Minting and Redemption of pUSD 

According to the network, it plans to launch optional yield-bearing versions because pUSD cannot earn yields on its own. The network also allows users to mint or redeem pUSD without charges. 

Plume also offers different types of special vaults. These vaults give users access to strategies managed by professional teams. Each vault is built for a specific risk level and is run by trusted institutional partners. These vaults include ETF-based, market-neutral, and diversified liquid vaults.

While users can delegate the token to validators, PLUME holders can participate in governance by voting on proposals related to upgrades, network enhancements, and ecosystem funding.

As an incentive, the network distributes PLUME rewards for activities such as quests, referrals, and general community engagement. Meanwhile, users maintain ownership of staked tokens. During the staking period, tokens are locked. To help ensure network stability, unstaking will require a 21-day waiting period.

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