Populous (PPT) pops by over 100% in the past 24 hours for no apparent reason

Belgium (CoinChapter.com) — It is not entirely abnormal in the cryptocurrency industry to see particular assets note substantial gains for no apparent reason. The current price trend for Populous (PPT) is compelling for speculators and traders, even if it has no solid backing. Nevertheless, the global P2P invoice trading platform is still considered a disappointing project by many.

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What Is Populous, Again?

For a project that has been around for years, there has never been that much excitement regarding Populous except for the initial stages.

Like many other projects launching, the team conducted an ICO, raising over $10.8 million in the process. However, the 2017 ICO craze has given rise to projects raising far more money than Populous ever did. Unfortunately, most of those ventures are no longer around today, yet the Populous team has stuck around and still aims to deliver on its initial promise. 

As a global peer-to-peer invoice trading platform on the blockchain, Populous primarily targets SMEs. Giving these firms a chance to invoice their services rendered efficiently is a benefit for all parties involved. Moreover, blockchain creates a visible trail from service to invoice to payment without incurring high costs. Additionally, the in-house credit rating system is something to take note of. 

PPT Price Rally is Interesting

Putting all of that behind us, most people are interested in why the PPT token price is going up. However, every significant market shift needs to be put in perspective. Noting a 10% price increase in 24 hours is impressive, but nothing indicates the momentum can last for long. In fact, some of the upward momenta has already been negated, indicating this pump attempt may have run out of steam already.

One also has to look at the much bigger picture. A 100% PPT price increase is fascinating, but it makes very little difference. The token’s all-time high is $75.19, and the current value is 96.3% lower despite a 100%+ increase in value. Thus, it is doubtful Populous’s token will set a new all-time anytime soon, although it is recovering well from the all-time low of $0.1468 recorded in May 2021. 

Little Social Engagement or Community

Crypto assets will often appreciate in value if there is a recent development or some form of news to trigger excitement. Unfortunately, there isn’t much to go on besides launching its PopDeFi and PoPEx solutions over a week ago for Populous. That is unlikely to be a catalyst for today’s price rally, as the news is nearly ten days old. However, the team did acquire a Gold trading license in Dubai, which can create some new opportunities to explore.

On Reddit – often the go-to place for news and updates for specific cryptocurrency projects, it is challenging to find any discussion regarding this project. With one post showing up every month, the project’s subReddit is as barren and can be. Without any community to talk about the project and its goals, sustaining a price rally will prove impossible. 

Looking over at Bitcointalk, there is an even bigger lack of interest in Populous. The last post dates back to June 12, and it explains how PPT will reach at least $10 this year. As is to be expected, there is no evidence to back up such bold claims or any explanation as to why it could happen. One user even called it “probably the most disappointing project ever”, highlighting the overall sentiment toward this venture.