PlatonCoin price prediction: New high for PLTC amidst allegations

Platon Life is being investigated by the Czech authorities, but its token is still rallying

A group of miniature people around physical cryptocurrency coins                                 
PlatonCoin is creating a community-focused coin that connects finance with lifestyle – Photo: Shutterstock
                                

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As crypto adoption grows, the rate of scams and crypto crime increases as well. This has driven platforms such as Platon Life to create educational content for its users and try to become a safe hub for cryptocurrencies.

However, Platon Life has recently faced claims of being a scam itself, and it is currently undergoing an investigation by the authorities in the Czech Republic, where its founders, the husband-and-wife team Daniel and Julia Tanner, are based. It has denied these allegations and blamed them on a hostile, defamatory media attack.

Investors appear to be unaffected by the news as its native PlatonCoin token (PLTC) has recently climbed to its all-time high. Forecasters are optimistic and think it can sustain this momentum.

The Platon Life ecosystem

Platon Life is looking to create a community with its platform that incorporates realiworld payment uses for cryptocurrencies. Its CoinMarketCap page wrote: “[The] focus is to connect the world of digital money and business with social needs and lifestyle.”

This members-only platform is giving users a place to socialise, where they can meet like-minded individuals, learn, and exchange ideas.

There are currently only two stages of membership for Platon Life. The Root stage is free and gives members access to basic education, a “secured wallet” and low fees on the platform. The Blossom stage provides investors with more advanced education sources, a loyalty programme and insurance for its wallet.

Alongside the membership club is the Platon Store, where users can purchase services and goods with cryptocurrencies from mainstream retail brands such as Netflix, Spotify, Amazon and Tesco.

The team is looking to expand its platform and working on an NFT auction site, a mobile app version of its platform and its own gaming portal, where users can compete with other members of the community.

Daniel Tanner came from a background in business management while Julia, the company's CMO, studied diplomacy.

What is PlatonCoin?

PlatonCoin is the cryptocurrency that is powering the community-focused platform. Investors can use it to pay for goods on the Platon Store or finance their membership on Platon Life.

The PLTC coin is based on the Ethereum blockchain. Its website said: “PLTC enables the operation of the entire Platon Life system, including purchases in partner stores and secure transactions between users.”

The PLTC token price history

It has been a bumpy ride so far for PLTC, with a particularly volatile price history, even for a cryptocurrency. This is important to note for investors, as its peaks and troughs have been often hard to explain, making it tougher to predict future prices.

The token went live on 20 February 2019 at $0.16. It saw an initial peak to $0.51 on 18 April, which was before PLTC was listed on the DigiFinex exchange. However, it soon plummeted below its launch price, eventually falling to its all-time low of $0.03 on 15 August.

It was almost a year later when PlatonCoin passed the $0.50 mark again, as the token went live on another exchange. Coinsbit listed PLTC in June 2020, pairing it with both BTC and ETH.

PLTC saw a volatile, but gradual increase over the next 11 months, which peaked at high of $0.87 on 2 May.

After consolidating, PlatonCoin has started rallying again recently. The cliché that any press is good press appears to be playing in its favour.

A number of local publications, including Rexter, have reported that the Platon Life office in Prague was raided by the Czech police in early June 2022. There are claims that the cryptocurrency is a scam and using a similar model to a Ponzi scheme through its membership products.

Platon Life has denied this in a recent press release. It confirmed that an investigation was taking place, but no charges have so far been brought against the company.

It also outlined a “media attack” and claimed an “unnamed online tabloid magazine” had intentionally set out to defame Platon Life.

The release said: “After the first two articles were published with this intent, Platon Life representatives were contacted with an offer to withdraw the articles for a fee. Platon Life has refused this and will refer everything… to the Czech Police and take further appropriate legal action.”

The PlatonCoin token rocketed to its all-time high of $1.36 on 7 June 2022. At the time of writing, on 4 July, it is trading at $1.11 and is down 2.88% in a recent seven-day period.

PlatonCoin price prediction

After the token’s recent rally, there are some optimistic PLTC price predictions. WalletInvestor calls it a “good” investment and thinks it could hit $1.24 in a year. Its PlatonCoin price prediction for 2025 is an average price of $1.72 by the end of the year.

PricePrediction thinks a more bullish climb is possible. The token is predicted to reach $2.25 in 2025 and $4.60 in five years’ time. The site’s PlatonCoin price prediction for 2030 expects it to pass $10 and reach $14.25.

TradingBeasts' PlatonCoin price prediction for 2022 assumes it can come close to $1.50 by the end of the year. However, the site only thinks a maximum price of $2 is possible by the end of 2025.

DigitalCoinPrice similarly expects PLTC to average out at $1.48 this year and hit $2.15 in 2025. A maximum price of $5.26 is forecasted by the beginning of the next decade.

FAQs

PlatonCoin is financing a community-focused ecosystem of cryptocurrency products. These include an online shop accepting crypto payments and its own education platform.

After PLTC’s recent rally, there is a strong sentiment from forecasters. PricePrediction is the most bullish with it predicting PLTC will eventually pass $10. But the token has proved to be especially volatile, so you should never invest more than you can afford to lose.

There is a circulating supply of 114 million PLTC coins.

It might be. PlatonCoin can be utilised in the Platon Life ecosystem to buy goods and gain access to educational services. But its recent rally has come after an investigation by the Czech police. Investors should be wary and conduct thorough research before investing.

While PLTC is currently not available on Currency.com’s exchange, it can be purchased on DigiFinex and Coinsbit.

Further reading

The material provided on this website is for information purposes only and should not be regarded as investment research or investment advice. Any opinion that may be provided on this page is a subjective point of view of the author and does not constitute a recommendation by Currency Com Bel LLC or its partners. We do not make any endorsements or warranty on the accuracy or completeness of the information that is provided on this page. By relying on the information on this page, you acknowledge that you are acting knowingly and independently and that you accept all the risks involved.
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