Traders are buying the cryptocurrency — 2local’s trading volume has surged by 4,639%.
Over the past 24 hours, 2local has seen its price jump by 283% as traders move to buy the cryptocurrency.
2local experienced delays during the pandemic. Now that vaccines are being distributed worldwide, local shops are beginning to reopen.
This recovery allows 2local to enter the next phase of its roadmap: connecting local businesses. The initial target is to onboard 20 businesses to the platform.
By linking through the 2local platform, businesses can participate in shared loyalty programs and implement a cashback system that encourages consumers to spend their money at local stores.
Where to buy the 2local cryptocurrency
Why buying 2local could make sense right now
2local launched earlier this month on the Binance Smart Chain. The project addresses a challenge many see as an unfair economic landscape for small and local businesses. With large corporations such as Amazon making it difficult for smaller shops to compete, 2local aims to give local communities a new way to connect and strengthen their competitiveness.
After a year in which small businesses suffered significant losses while giants recorded record profits, cryptocurrencies like 2local represent more than just an investment for many consumers. They offer an opportunity to support local commerce and push back against what some consider a growing monopolistic trend in the economy.