PetroDollar

1. Summary

Ranks

Liquidity

-

Developer

-

Social

18

Momentum (beta)

0

Stack Rank™

-

Price

$0.01 0.0%

Market Cap

$0.00 (#12667)

Supply

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Price
52W High price	$0.03
52W High date	8th Apr 2022 (3 years ago)
All Time High (ATH) Date	2nd Jan 2025 (5 months ago)
All Time Low (ATL) Date	2nd Jan 2025 (5 months ago)

Supply & Trading Volume

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Description

The Petro, also known as Petrodollar, is a cryptocurrency created by the government of Venezuela. It was launched in February 2018 as a digital currency backed by Venezuela's oil reserves and gold reserves. The Petro aims to provide a digital alternative to traditional currencies, particularly in the oil market. The initial plan was to base the Pet...

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The Petro, also known as Petrodollar, is a cryptocurrency created by the government of Venezuela. It was launched in February 2018 as a digital currency backed by Venezuela's oil reserves and gold reserves. The Petro aims to provide a digital alternative to traditional currencies, particularly in the oil market. The initial plan was to base the Petro on Ethereum, but it was later switched to the NEM blockchain and eventually became a fork of the Dash cryptocurrency.

The Petro has a unique structure, with all tokens pre-mined by the Venezuelan government. Its transactions are to be facilitated by a blockchain, but users have reported failures in the system, and it has faced issues such as a lack of clear tokenomics and conflicting information about its platform. Despite these challenges, the Petro remains a significant player in the cryptocurrency market, reflecting Venezuela's efforts to diversify its economy and reduce reliance on traditional currencies.

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