Nearly all cryptocurrency in the space is feeling the bearish heat but Cannabis Industry’s Paragon Coin (PRG) has seen approximately 1,122% spike in the last 24 hours. Paragon Coin now seats at th3 73rd position, with a market price of $0.786989 USD.
While there is no one that can categorically state the reason behind the sudden surge, on the 16th November, Paragon announced it has reached a settlement agreement with the United State Securities and Exchange Commission (SEC).
Paragon Chain aims at revolutionizing the cannabis industry with its state of the art blockchain-based solutions. The platform provides stability, verification and legitimacy.
The platform is a big development to the supply chain tracking for the cannabis industry. It comes with sophisticated Smart-contracts, stunning GUI’s and a topnotch database architecture. Paragon Chain “sits at the core of our seed-to-sale solution”.
Every section of the seed-to-sale process is documented by reliable parties i.e. a cultivator or a dispensary.
In the same line, the input data is saved with Paragon and unveiled as a smart contract which ensures easy access and immutability.
Due to the fact that it is strenuous to get office space for Cannabis businesses, Paragon launched ParagonSpace. The platform intends to create a community where entrepreneurs and businesses can collaborate, network and build. Members of the community are given access to enjoy Paragon lounge and cafe, rent office space, desk space, and conference rooms for meetings and events.
Paragon has opened its first ParagonSpace in LA, however, the space now welcomes entrepreneurs, businesses, and freelancers to work in the space.
Paragon (PRG) Reaches Settlement With Securities and Exchange Commission
Paragon has announced an important settlement it has been working on for more than a year now. The blockchain platform announced it has reached a positive agreement with United State Securities and Exchange Commission (SEC).
The settlement agreement, according to an update by Paragon will put an end to “the uncertainties of the legal status of our PRG tokens”.
According to Jessica VerSteeg, CEO of Paragon, “working shoulder to shoulder with an amazing team of lawyers from Schulte Roth & Zabel LLP, as well as an extremely knowledgeable team at the SEC, we have been able to reach this trailblazing deal that we expect will serve as the model for compliance for ICOs going forward.”
The settlement conditions gives Paragon the opportunity to pursue registration of the PRG tokens as a class of securities under Section 12(g) of the Securities Exchange Act of 1934 by filing a Form 10.
“This resolution with the SEC gives Paragon the path forward to full compliance with the U.S. securities laws and clears the way for Paragon to pursue its vision of bringing transparency and accountability to the cannabis industry through blockchain technology. Paragon is proud that the PRG token is included in today’s action by the SEC and are thereby being granted the opportunity to avail itself of this groundbreaking path forward while continuing to pioneer efforts and to participate in the ever evolving ICO marketplace,” said Ms. VerSteeg, CEO of Paragon.
Paragon Price Analysis: PRG Trades Up With 1,122% Value Rise In 24 Hours
The crypto space never seize to amaze one with different stunning events. This time, a crypto coins experienced a value spike that kept the mouth of many gaped.
While investors are praying for a positive market turn-around, Paragon (PRG) made its owner yell out that the glory they have waited for is here.
Since the start of the last 24 hours, Paragon has been maintaining a steady price in the market until the end of the European trading session when an abrupt rise was experienced. At this time PRG/USD trade pair moved from being priced $0.07957 to $0.2840 in just a minute.
According to Coinmarketcap, the trade pair buoyed this value for another 40 minutes, before leaping up slightly to $0.3029.
While maintaining its tempo on the upside trend, Paragon again leapfrogged, moving to $0.5561 against dollar. With another great tempo on the rising wedge, the altcoin continued to display impervious zeal against the resistant level.
About 20 minute after moving to the $0.5561 mark, trade pair PRG/USD saw another huge up rise that snappishly elevated it from the former value to $0.78788, it price as at press time (towards the end of the North American trading session)
Obviously based on the data exuded by Coinmarketcap Paragon (PRG) moved from a price of $0.07957 to $0.78788 against dollars within a trading session – (North American trading session).