A decentralized real estate trading platform built on the smart contract platform Solana (SOL) experienced fluctuations in its price after receiving support from Coinbase.

Two days ago, on the social media platform X, the leading US-based cryptocurrency exchange announced that it had added Parcl (PARCL), a decentralized exchange (DEX) that allows users to trade and invest in real estate using synthetic assets without the need to physically own any property.

Synthetic assets are tokenized, blockchain-based representations of real-world assets, such as securities and real estate, that can be easily exchanged.

The announcement led to a drop in the token’s price, as it fell from a peak of $0.586 on December 17 to a low of $0.408 just two days later. At the time of writing, PARCL is trading at $0.418, marking a 9% decrease over the last 24 hours.

On December 15, Coinbase added PARCL to its listing roadmap, signaling that support would be added soon. This announcement triggered a 50% rally for the altcoin, which had been trading at just $0.33 on December 10.

PARCL aims to offer traders global city indexes – including major cities such as New York, Miami Beach, San Francisco, Austin, Los Angeles, Chicago, and Dubai – and enables them to acquire tokens that represent a stake in a specific index.

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