TREE NEWS reports: Pearl (PRL), a Layer 1 blockchain that replaces Bitcoin’s hash mining with GPU matrix multiplication, briefly broke above $2 on October 15, putting its circulating market cap near $700 million at a record high. The token is up as much as 600% in two months. Pearl Research Labs launched the mainnet on April 27, 2026, with a 2.1 billion PRL hard cap; roughly 332 million PRL had been mined by October 2, 2026.
Pearl (PRL) Tops $2 as GPU Mining Coin’s Market Cap Hits $700M
Pearl's move matters less as a price event than as a test of whether compute-for-consensus designs can hold attention beyond their launch window. The roughly 332 million PRL mined against a 2.1 billion cap means most supply is still ahead, so the circulating figure flatters the valuation relative to eventual dilution. GPU owners now have a live alternative to pure hash mining, and how emission pace and miner retention evolve is the open question.
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