Parcl (PRCL), the native token of Solana-based real estate DEX project Parcl, has dipped 20% in the past 24 hours.
The declines come as traders likely take profits following the notable spike on Dec. 17. At the time of writing, PRCL traded around $0.46, down 20% from its 24-hour peak of $0.58 and off the weekly high of $0.61.
PRCL dumps post Coinbase listing
Coinbase, a U.S based crypto exchange, added its trading support for Parcl (PRCL) on the Solana platform on Tuesday. The exchange opened deposits and withdrawals for the token after listing on both the Coinbase and Coinbase Exchange’s iOS and Android apps.
Parcl (PRCL) is now live on https://t.co/CD3RBjtMAO & in the Coinbase iOS & Android apps. Coinbase customers can log in to buy, sell, convert, send, receive or store these assets. https://t.co/676miKRrfh
— Coinbase Assets 🛡️ (@CoinbaseAssets) December 17, 2024
While Parcl (PRCL) roll-out is limited to certain regions, interest saw its price jump to near $0.60. This came as Bitcoin price rose to its record high near $108k, igniting upbeat sentiment across the altcoin market.
The Coinbase roadmap announcement and the broader market upside meant Parcl trended as one of the market’s top gainers on Dec. 17. However, with sellers taking center stage including for BTC’s slump from the peak, PRCL price has also pared gains.
PRCL price outlook
The recorded low in the past 24 hours for Parcl is $0.45, which came as Bitcoin also dropped from its ATH.
As noted, the real estate related project currently trades at $0.46. Coinbase’s listing and other market conditions could yet see the value of the token rise to its April 2024 all-time high above $0.73.
In the meantime, bulls must defend the $0.40 zone. Parcl market cap is at $101 million, down from $120 million on Tuesday. Daily trading volume has decreased by 47% to about $57.6 million, down from highs of $114 million as price surged.