Pearl Token (PRL), operating on the "Proof of Useful Work" protocol, has set a new all-time high, increasing by 67% over the past 24 hours. At the time of writing, the token's price was $1.60, which is 104.3% higher than the minimum value of $0.80 recorded on September 21. The September growth of the token was driven by high demand, reflected in significant trading volume. Notably, many crypto influencers on social media expressed their positive expectations regarding PRL, contributing to an increase in token purchases.
An interesting aspect of Pearl's popularity is how it transforms the classic Proof of Work market. The mining process involves matrix multiplication, which is a native operation for graphics processing units (GPUs). These computations serve as the energy cost for AI inference while simultaneously securing the blockchain. The emission curve of Pearl tokens reduces rewards with each newly mined block, further incentivizing early miners' activity. The network aims to adjust PRL prices in accordance with the actual economic costs of AI computing.
The $0.50 level became an important mark from which the rise began in September. The token experienced an unsatisfactory trend, fluctuating in the range of $0.25-$0.34 in August and early September. In the first week of September, bullish sentiments began to emerge. Trading volumes increased again, contributing to the growth of the balance volume. On September 11, the $0.50 level was surpassed, changing the price structure towards growth. Currently, the upward trend shows no signs of stopping, with the $0.80 level becoming local support, and $1.20 expected as a demand zone during a potential PRL correction. The RSI indicator is again in the overbought zone, but this is unlikely to slow down the parabolic growth. In the short term, a price drop to the $1.10-$1.30 range may create another buying opportunity.
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