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An Ethereum (ETH<\/a>)-based altcoin that\u2019s flying under the radar is moving against the largely bearish crypto price action this week after surging over 110% in the past seven days.<\/p>\n Power Ledger (POWR<\/a>) is a blockchain that\u2019s designed for decentralized and distributed energy markets.<\/p>\n The project\u2019s native token, POWR, is trading at nearly $0.737 at time of writing, a massive rise from its weekly low of $0.35. The 171st-ranked crypto asset by market cap is also up nearly 25% in the past 24 hours alone.<\/p>\n According to Powerledger\u2019s official\u00a0website<\/a>, the crypto project aims to aid the decentralization of the energy grid, help transition toward renewable energy and assist consumers in keeping track of their power usage.<\/p>\n POWR\u2019s gains materialized amid this week\u2019s unveiling<\/a> of xGrid 2.0, the latest version of Powerledger\u2019s blockchain-enabled energy trading platform.<\/p>\n The project says the new trading platform has a \u201cmodern and minimalistic\u201d user interface (UI) and increased flexibility with demand and percentage-based secondary market power purchase agreements (PPA).<\/p>\n PPAs are typically used for renewable energy sources and consist of third-party developers installing and operating energy systems on their customers\u2019 properties, according to the U.S. Department of Energy<\/a>. The customer can receive low-cost energy while the developer gets to sell excess electricity from the system.<\/p>\n Despite POWR\u2019s gains this week, the token remains more than 61% down from its all-time high of $1.89, which it hit all the way back in January 2018, according to CoinGecko<\/a>.<\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>
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