Plugin PLI/USD is an oracle service provider that intends to solve high gas fees and provide a stable system. To achieve this, it takes advantage of its PLI XRC-20 utility token.
The Bitrue listing as a catalyst for growthBitrue announced the listing of the PLI Plugin token on October 15, after it successfully passed the #BTRVote.
Plugin (PLI) provides high-quality data streaming and is a decentralized oracle service provider which is developed on top of the Xinfin Ecosystem. This plugin has the main intention of ensuring the accuracy of the data received off-chain.
Due to the fact that it is built on top of the Xinfin Ecosystem, it needs minimal resources to function and uses a delegated proof-of-stake (PoS) algorithm known as XDPoS.
Plugin is even faster than Chainlink and cheaper. This means that PLI tokens have lower gas costs and faster transaction times, and Plugin has the potential to reach billions of users quickly.
Should you buy Plugin (PLI)?On October 20, Plugin (PLI) had a value of $0.757526.
Given that this is a fairly new token that only recently launched, we will be analyzing how its performance has been so far after its launch.
Within the last 24 hours, PLI has had a trading volume of $370,823.
One of its highest points in value so far has been as far as $0.90377, a value it achieved on October 16.
In other words, from it’s all-time high to the value on October 20, the token dropped in value by $0.146244 or 19%.
Over time, the token could potentially be added to other cryptocurrency exchanges, the more utility it ends up seeing within the industry.
Such is the case with the announcement Plugin made on October 18, where they announced that the Utility Token PLI is getting ready for the launch on Globiance with the PLI XDC and PLI USDG pairing.
The more exchanges it gets listed on, the more users will have access to the token, which has the potential to increase its value.
That said, so far, we did see a 19% decrease in value, but looking at it from an optimistic viewpoint, we can expect the token to either reach $0.871154 by the end of November, assuming it gets listed on more exchanges and showcases its true potential.
However, if the token drops below $0.7 by the end of October, it might be worth selling instead.
The post Is it too late to invest in Plugin (PLI) after the initial listing on Bitrue? appeared first on Invezz.
