Is it too late to invest in Plugin (PLI) after the initial listing on Bitrue?

By: Milko Trajcevski
Milko Trajcevski
Milko leverages his passion for cryptocurrencies and teaches investors something new each day. During his spare time, he loves… read more.
on Oct 20, 2021
  • The Plugin (PLI) token successfully launched on Bitrue.
  • It is slowly being added to other exchanges as well.
  • This might be the latest altcoin worth buying in October 2021.

Plugin PLI/USD is an oracle service provider that intends to solve high gas fees and provide a stable system.  To achieve this, it takes advantage of its PLI XRC-20 utility token.

The Bitrue listing as a catalyst for growth

Bitrue announced the listing of the PLI Plugin token on October 15, after it successfully passed the #BTRVote.

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Plugin (PLI) provides high-quality data streaming and is a decentralized oracle service provider which is developed on top of the Xinfin Ecosystem. This plugin has the main intention of ensuring the accuracy of the data received off-chain.

Due to the fact that it is built on top of the Xinfin Ecosystem, it needs minimal resources to function and uses a delegated proof-of-stake (PoS) algorithm known as XDPoS. 

Plugin is even faster than Chainlink and cheaper. This means that PLI tokens have lower gas costs and faster transaction times, and Plugin has the potential to reach billions of users quickly.

Should you buy Plugin (PLI)?

On October 20, Plugin (PLI) had a value of $0.757526.

Given that this is a fairly new token that only recently launched, we will be analyzing how its performance has been so far after its launch.

Within the last 24 hours, PLI has had a trading volume of $370,823.

One of its highest points in value so far has been as far as $0.90377, a value it achieved on October 16. 

In other words, from it’s all-time high to the value on October 20, the token dropped in value by $0.146244 or 19%.

Over time, the token could potentially be added to other cryptocurrency exchanges, the more utility it ends up seeing within the industry.

Such is the case with the announcement Plugin made on October 18, where they announced that the Utility Token PLI is getting ready for the launch on Globiance with the PLI XDC and PLI USDG pairing.

The more exchanges it gets listed on, the more users will have access to the token, which has the potential to increase its value.

That said, so far, we did see a 19% decrease in value, but looking at it from an optimistic viewpoint, we can expect the token to either reach $0.871154 by the end of November, assuming it gets listed on more exchanges and showcases its true potential.

However, if the token drops below $0.7 by the end of October, it might be worth selling instead.

Where to buy right now

To invest simply and easily, users need a low-fee broker with a track record of reliability. The following brokers are highly rated, recognised worldwide, and safe to use:

  1. Etoro, trusted by over 13m users worldwide. Register here >
  2. bitFlyer, simple, easy to use and regulated. Register here >