Through the course of this article, we will understand all about the Perp coin and its price prediction.
There are many different tokens in the coin market today. Given the high success of cryptocurrency in recent times, this is definitely to be expected, given the interest shown by every crypto enthusiast.
Some tokens have received more attention than others. However, even though many coins are being introduced into the coin market, it is still essential to understand that this doesn’t change the major dips faced by many cryptos in the crypto space, which validates the high volatility of the crypto market.
Investors and crypto users need to understand any token they choose for their investment. This would help them make intelligible decisions and make investments that will help them maximize profit and save them from running into scam tokens in the coin market.
The Perp Coin is another coin that has grown significantly in the coin market given its increase in the number of investors and crypto users and its rise in both worth and value.
What is Perp Coin?
The PERP coin is a token that runs on the perpetual decentralized exchange used for perpetual contracts. The token also powers the Perpetual protocol making it a vital aspect of the project.
Here is some basic information as regards the PERP coin important for investors to understand:
- The Perpetual contract allows users to open long and short trading positions, one of the major ways investors maximize profit in the crypto market.
- These trades can be opened on various cryptocurrencies like Bitcoin, Ethereum, YFI, Polkadot, and a host of other major tokens and cryptos in the coin market.
- The Perpetual protocol accommodates other projects built on this protocol and runs smoothly, which is one of the major goals of the founders’ roadmap for the Perpetual project.
- The Perpetual token runs on the Ethereum network, and this means the token is an ERC-20 token making it a strong token in the coin market.
- Through the virtual Automated Market Maker vAMM, the Perpetual protocol makes trading for both long and short aspects easier for investors and crypto users of the platform.
Perp Coin Tokenomics and Market Capitalization
In the crypto industry, there is basic information about a token’s distribution and use that is vital for investors to understand as this will come in as a very important part for these investors to make the best decision as regards this token or any other token in the crypto market which they choose for their investment.
The tokenomics of any coin also helps determine the success of this token in the coin market to a certain extent, given its impact on the coin’s appreciation by investors and interested holders.
Here are the tokenomics of the Perp coin PERP:
- There is a total supply of 150 Million PERP coins in the coin market, out of which there is a circulating supply of 68.7 Million of the whole token.
- 54.8% of the token goes to the Ecosystem and reward system of the coin, which will be used for the development of the coin and used for the reward of the coin’s holders, which the Perpetual protocol community will decide.
- Another 21% goes to the Team and advisors of the Perpetual project, and 4.2% goes to Seed Investors.
- Another 15% of the token goes to strategic investors, of which 20% is unlocked on mainnet launch and another 20% every 3-month.
- 7.5%goes for the Balancer Liquidity Bootstrapping Pool commonly called the LBP.
This is the tokenomics of the Perpetual token important for investors to understand.
Price and Contract Address of the Perp Coin
The Perpetual token has grown significantly in the coin market at the time of writing this article and has seen a significant increase in the number of holders and investors.
As of the time of writing this article, the price of the Perp coin is $9.66 and its contract address – 0xbc396689893d065f41bc2c6ecbee5e0085233447.
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Step-by-Step Guide on How to Buy the Perp Coin
There are several exchanges and crypto platforms where the Perpetual coin PERP can be purchased and stored by interested investors and crypto users.
Using the Binance crypto trading and exchange Platform
Here is a step-by-step guide to help investors and crypto users purchase and store the Perp coin PERP using the Binance trading platform.
- Users can sign up and verify an account on the Binance platform by confirming email and completing other valid identity verification exercises to set up the Binance account and get it ready for trading cryptocurrencies.
- Purchase USDT by using Fiat currency dependent on the country of user or investor.
- Once done, the user is ready to buy and store the Perpetual coin PERP. Simply navigate to the “Trades” button, located at the bottom navigation bar of the Binance interface, open it up and click on the “Buy” button to purchase the PERP coin.
- On the next page, input the number of USDT users wish to use for the transaction or exchange. Users will see the number of Perp coins purchased for any number of USDT inputted.
- Click the “Buy PERP” button to continue with the transaction, and after processing, the purchased Perp coin will be stored in the user’s wallet.
This simple guide will help crypto users, and interested investors buy and store the Perp coin PERP in their Binance wallet.
Other major exchange platforms which support the trading and holding of the Perp coin include decentralized exchanges like the Uniswap exchange platform, Gate.io, and others include Kraken and FTX.
Is it Advisable to Invest in the Perpetual Coin?
Since its launch, the Perp coin has seen a significant increase and growth in the crypto market. Though already seen its fair share of dips which is quite common in the crypto industry, the coin has amassed many investors over time.
Crypto analysts and predictions have shown that with the strong Perpetual protocol the project presents, the Perpetual coin will keep growing in price, worth and value.
It is also crucial for investors and crypto users to do their basic research before investing their funds into any token in the coin market as this would help them make the best decision as regards any token or coin and also help them avoid losing their funds to scam tokens in the coin market.
What are your views on the Perp coin and its price prediction going into the future? Share your ideas and opinion using the comment section.