In a recent announcement, Animoca Brands announced its intention to purchase additional PROS tokens from the open market.
Prosperâs utility token, PROS, is designed to bring institutional-grade Bitcoin mining power on-chain. The token offers exposure to the Bitcoin hashrate as well as the broader Bitcoin ecosystem. PROSâ current circulating market cap is $10 million, but the altcoinâs price has surged 76% following the investment news.
According to Animoca Brandsâ official blog post, the companyâs decision demonstrates its belief in Prosperâs new strategic direction. The aim is to increase the utility of the PROS token while further integrating it into the Bitcoin ecosystem. âAnimoca Brandsâ acquisition of PROS tokens demonstrates our commitment to supporting Prosperâs drive to unlock the potential of Bitcoin, the most decentralized cryptocurrency,â the statement said.
According to the official website, âProsperâs goal of bridging institutional-grade Bitcoin mining power onto the chain aims to fully maximize Bitcoinâs capabilities and present new opportunities for investors and users across the ecosystem.â
*This is not investment advice.