Pearl crypto surges 228% in a month — But what exactly is PRL?

There are two camps in the community right now. One is raving about the rise of Pearl [PRL], while the other wonders what it is.

Here’s what you need to know.

Pearl crypto rises 228% in a month, taps new high

Let’s start with the price, because that’s what everyone’s talking about.

On Uniswap v3, Wrapped Pearl [WPRL] was at $1.93 at the time of writing. In mid-September, it was near $0.59; that makes it a 228% jump up in a month!

Back in August, it barely moved from around $0.28. From there, it’s skyrocketed 7x.

Has the ride been smooth? No.

With its fall in early October, it looked like the party was over, but it continued. Since October 6, Pearl has gone up and touched $2.10 today.

The indicators look good, too. RSI was just past the overbought line and well above its signal line.

But an RSI above 70 after a run like this usually means things are getting a little hot. This means a pullback wouldn’t be shocking with what is being seen.

If it is able to hold above $1.80 [today’s low], it would keep buyers in control.

But what is Pearl?

This overnight sensation is a L1 blockchain that launched in April, built on Bitcoin’s [BTC] code. Where it gets more interesting is in the mining.

Instead of solving SHA-256 puzzles, miners do matrix multiplication,