Tokenized Real Estate Platform Down 7 %

The Propy coin price is down by 7 percent in today’s trading session. This is despite the crypto doing extremely well in the markets yesterday, where it closed with a 32 percent price gain. 

What is Propy?

Real estate is one of the largest asset classes in the world. However, few people can invest in the industry due to its high capital requirements. To solve the problem associated with the industry, Propy introduced tokenized real estate. The idea behind Propy is to help small-scale investors take part in the $280 billion industry. 

Propy removes some of the problems associated with the real estate industry, such as affordability, transparency concerns, and inefficient paperwork involved before a deal is accepted. Propy achieves this by subdividing real estate assets and then tokenizing them into small, affordable units.

The tokenized assets are then encrypted with all pertinent details that grant ownership to the investor based on the share of their property. For instance, a real estate property worth $100,000 can be subdivided into 100 parts of $1000 each and offered to investors as tokens.

Propy Coin Price Prediction

In yesterday’s trading session, prices surged by 46 percent in the early hours. However, during the evening hours, the prices started to come down, and the cryptocurrency closed the market with a net gain of 32 percent. 

In today’s trading session, Propy is down by 7 percent. The drop is an extension of yesterday’s late hours’ drop of 9 percent that resulted in the crypto closing the markets with a 32 percent net gain. 

Using the chart below, I predict that Propy prices will continue to fall. There is a high likelihood that we will see the crypto trading below the $0.93 price level. It is also highly likely that prices will approach and hit the $0.85 support level. 

However, in the unlikely event that the price of propy trades above $1.23 by the end of today’s trading session, then my bearish analysis will be invalidated. It will also mean a possible move to the upside.

Propy Daily Chart