The idea is great as well. It's basically about sharing local electricity using a cryptographic token. They've attracted funding from the Australian government. They've got a demo location in place where people trade locally generated electricity. They've got what looks like a solid team of true believers and real geeks. There are several good stories in the news
one of which is that they made the top 3 of Richard Branson's Extreme Tech Challenge http://www.extremetechchallenge.com/2018/01/15/top-3-finalists-unveiled-at-ces-2018/ at CES 2018
Good news that did not really make a positive mark on the coin price, rather the reverse; it plummeted just days after the above announcement. Which is curious and reason why I'm asking if there's anything not to like here.
At any rate, examine the graph, examine their idea http://powerledger.io/ I think there's a clear case for this technology to find adaption and a clear first mover advantage in this team.
Not intended as investment advice.
Looking forward to your comments and likes.
As long as bitcoin's price dominates all of crypto these fluctuations can happen. We should ask why if bitcoin is so important, so few people want to still hold it?
What's strange about crypto is the dominance of BTC. In traditional markets, BTC going down would not so negatively affect coins such as powerledger, but even against BTC, powerledger fell. So the actual drop vs USD was huge, a valuation of $2 to almost $0.40 within a month ( https://coinmarketcap.com/currencies/power-ledger/ ). Only because of lack of confidence in bitcoin.
Do realize though that two powerledger executives were invited to and present at the WEF at Davos and are pitching their idea to very deep pocketed investors such as Richard Branson. Ordinarily you would not be able to gain a piece of this company until much later but now thanks to the crypto markets, you can. And at what now seems to be a solid discount.
I like this company and its ideas, There are real downsides to having it available in such an immature market dominated by such a volatile asset. On the other hand, we all know the opportunities here as well.