This weekend, the markets are incredibly depressing, with Bitcoin and Ethereum continuing their sharp decline. On the bright side, a recently released Web3 coin called Pmail gained over 1800% in the past 24-hours. Let’s look at this Web3 coin and see why the price is rising?

What Is Pmail (PML)?

Launched on January 20th, Pmail Network describes itself as the first NFT Mail application based on Web3. Pmail Network utilizes Dfinity’s technology and looks to serve as a primary portal to the blockchain world.

Pmail is looking to empower its users by giving them control of their data and private keys. In addition, users can determine the future of Pmail through their community governance system. Pmail is committed to providing users with a permanent mail service without a centralized service while maintaining data integrity and security.

Pmail’s mail services use a unique mail address to identify its users, which consists of a long string looking something like this:

staghkhshsooxXmcg6HJu..@Dfinity.domain.com

Representing a user’s unique on-chain address. As it’s not feasible to use long addresses like that, Pmail features an Alias system enabling users to replace their on-chain address and prevent them from exposing it to the public.

Unfortunately, we couldn’t create an account on Pmail as the link returned a 404. In addition, the Github link on Pmail’s official website also didn’t work.

The good news is, Pmail did have a demo that users could check out and set up a test email account on the platform.

Why Is Pmail (PML) Price Rising?

Pmail’s Web3 mail service is an incredible idea that has demand. After all, crypto users aren’t big fans of traditional mail services, which undoubtedly collect and store user data.

PML’s current valuation is $45 million with a 24-hour trading volume of $621k. Since PML is a BEP-20 token currently only available on PancakeSwap, all the volume is coming from that DEX.

The current valuation of $45 million is relatively high but makes sense since the project does have a Minimum Viable Product which significantly increases investors’ confidence. It’s refreshing to see a project with a use case besides Memes or a play-to-earn Metaverse game.

At writing, PML is trading at $0.000016, up over 1800% in the past 24 hours! It seems that with the current crypto bear market, traders are flocking to newly-released coins to hedge their currencies, and Pmail seems like the popular choice for today.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency.

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