IMPT, the cryptocurrency of carbon credit trading platform IMPT.io, was up 100% in 48 hours recently and is currently consolidating between $0.013 and $0.015, having surged higher from Monday’s close of around $0.010. That uptick saw IMPT break beyond a key resistance in the $0.012 area.
What Caused IMPT’s Price Surge?
On Monday, the CEO of IMPT.io announced news that could be the cause for the cryptocurrency’s recent surge in price. They provided a positive project update on a number of points including the unveiling of screenshots of Use Case 1 and divulging more details leading up to their launch date while announcing that launch date is set for February 2023.
Teaser move inevitable $IMPT #IMPT
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Zero tax buy sell
Extremely low supply
Uniswap under 47 million pic.twitter.com/PgURu64cUr
— Crypto Community Builder CEO Charts on DEMAND (@BudRante) December 21, 2022
This week, IMPT.io will also be releasing a comprehensive list of its top 500 affiliate brands as well as the most recent additions to their network. Additionally, IMPT’s token will become available for trading on Changelly Pro exchange later this week.
Another Pump Incoming?
IMPT appears to be in a prime position for another upward pump, thanks to strong fundamentals that include the upcoming platform launch and technicals. If some investors decide to cash out their profits and it causes IMPT’s price to drop back down towards $0.012, bulls could take advantage of the opportunity by adding more long positions. With numerous levels of resistance already surpassed, IMPT may return up near its previous high at $0.025 — an 80% increase from current prices. To do this, however, it may need to consolidate some within the current range before breaking out further. Either way, the project looks like a solid buy for a long-term hold given its strong fundamentals and use case.
What is IMPT?
IMPT.io features a convenient online widget and mobile app that empowers customers to purchase from their favorite affiliate brands, both offline and on the web. In exchange for these purchases, shoppers are rewarded with exclusive NFT collectible prizes crafted by renowned artists or can even resell them through IMPT’s platform.
When shoppers make a purchase, they will be contributing to the fight against climate change. Several esteemed affiliates such as Microsoft, Macy’s, Netflix and Amazon have joined forces with this independent project in its fight against climate change.
Climate change mitigating projects that are featured on the platform that receive a percentage of the profits from affiliate brands are accredited by top environmental organizations, ensuring the money goes to causes that are making a real impact.
At IMPT, users have the unique advantage of selecting projects to support that line up with their individual interests. Through time, they can analyze and quantify the positive environmental effects generated from their contributions — including data on where carbon credits are being allocated for maximum benefit. The idea is that this openness will inspire people by demonstrating the positive impact of every action taken.
How IMPT’s Blockchain Tech Makes Carbon Credit Trading Better
To resolve the fraud and double-counting issues within the carbon credit system, IMPT’s blockchain-based technology will be used to turn credits into Non-Fungible Tokens (NFTs). The ownership addresses of these tokens will then be securely stored on a decentralized ledger, making it impossible for anyone to forge or alter them. To further guarantee their validity and authenticity, token-burning will also be utilized; this ensures that retired or burned NFTs are permanently removed from circulation — nobody will ever have access to resell them again. By attaching cryptographic proof onto each NTF/token via IMPT protocols, an immutable record is formed which cannot be counterfeited in any way.
The IMPT token is a central component of the IMPT.io carbon marketplace, serving as its official currency in order to utilize any services provided by the platform, such as purchasing NFT carbon credits and products from affiliate sites. Moreover, holders of these tokens will even have voting power when it comes to upcoming DAO decisions regarding governance matters.
Carbon Credit Markets are a Huge Industry
As the world is becoming increasingly conscious of the need to address climate change, carbon markets are rapidly expanding. In 2021 alone they traded a total 500 million credits at an average price of $4 per ton – representing 60% growth from 2020 figures. This pushed the market value up to $271 billion for that year–a staggering 128% spike since 2008. Moreover, voluntary offsetting has also skyrocketed in 2021 and quadrupled its previous figure with a remarkable sum reaching 2 billion dollars; predictions suggest this number could even reach 50 billion by 2050.
IMPT is the perfect choice to develop a reliable, efficient platform for trading carbon credits on the world’s carbon market. We need an effective solution to tackle the issues inherent in carbon trading, and IMPT looks set to provide it.
IMPT to Address Carbon Market Gaps
IMPT is a crucial tool for fighting global climate change, enabling users to buy and trade carbon credits while neutralizing their emissions. The blockchain technology it employs makes the service more reliable and transparent compared to traditional carbon markets. As the need for such services increases, IMPT has a good chance of becoming the premier platform for trading carbon credits–allowing it to lead in this promising sector of environmental sustainability.
As carbon trading hits its stride in the coming months and years, IMPT looks like it will be there to help it move carbon markets forward as a sustainable crypto investment that can help people diversify their investment portfolios while joining the fight against climate change.
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