Pearl (PRL) Touches $2.10 After 228% Monthly Gain
Key Takeaways
- •Pearl (PRL) reached $2.10 on October 14, 2026, a 228% gain from its mid-September level near $0.59 and roughly seven times its August price of about $0.28.
- •Pearl is a layer-1 blockchain built on Bitcoin's code that launched in April 2026 with a fixed supply of 2.1 billion coins, no pre-mine, and no team or venture capital allocations.
- •The network's Proof of Useful Work design has miners perform matrix multiplication used in AI models, but a June study of 8,012 mining machines found no AI code in the main mining software, and shares mined with random data were accepted by a pool.
- •A May partnership with Together AI produced a Pearl-powered model priced 25% cheaper, although AI workloads currently run 10% to 15% slower, with a testnet upgrade aiming to cut that overhead to between 0% and 3%.
- •Roughly 305 million additional PRL is due to enter circulation over the next 12 months, nearly double the current supply, while the token trades on only two exchanges with thin order books.
Pearl (PRL) extended its rally to fresh highs this week, touching $2.10 on October 14, 2026, according to a Blockonomi report. Market data from CoinGecko shows the token sat near $0.59 in mid-September, making the latest advance a 228% gain in roughly a month. In August, PRL traded around $0.28, meaning it has risen approximately seven times since then.
Alongside the move, Wrapped Pearl (WPRL) traded at $1.93 on Uniswap v3, a decentralized exchange, at the time of AMBCrypto's report. Rohit of Milk Road noted that PRL is up about 195% over the past 30 days. He added that the project had been all over his crypto Twitter timeline for several days.
What Is Pearl?
Pearl is a layer-1 blockchain that went live on April 27, 2026 — less than six months before the token touched $2.10. It is built on Bitcoin's code and carries a fixed maximum supply of 2.1 billion coins. There was no pre-mine and no team or venture capital allocation; every PRL in circulation comes from mining.
Bitcoin miners compete to solve SHA-256 puzzles, computations that secure the network but serve no purpose beyond it. Pearl miners instead perform matrix multiplication, the same math GPUs use to run AI models. The method comes from a 2025 paper by co-founders Ilan Komargodski and Omri Weinstein, and the project calls the approach Proof of Useful Work.
In May, Pearl announced a partnership with Together AI, a cloud provider that runs open-source models. Together subsequently launched a Pearl-powered model priced 25% cheaper, with PRL mining rewards covering the discount.
Not All Mining Is "Useful" Yet
Not all mining on the network has proven useful so far. In June, researcher Abhinaba Basu studied 8,012 Pearl mining machines and found that the main mining software contained no AI code. In a further test, Basu mined using random data and had 44 shares accepted by a pool; shares are the units pools count as proof that a miner is contributing work.
Weinstein said letting miners pick their own inputs "will always allow spam mining."
Running AI workloads through Pearl also carries a performance cost: models slow by 10% to 15%. An upgrade currently on testnet cuts that overhead to between 0% and 3%, and its rollout beyond testnet is one of the network's most concrete milestones to watch.
Supply and Liquidity
About 1.01 million PRL is mined each day. Roughly 305 million additional tokens are due to enter circulation over the next 12 months, nearly double the current supply.
PRL trades on just two exchanges for now, and order books on both remain thin. Thin books mean relatively small buy or sell flows can move the quoted price.
Chart Analysis
The TradingView chart shows PRL sold off in early October before buyers stepped back in. Since October 6, the price has recovered and climbed back to touch $2.10.
The RSI, a momentum gauge, sits just above the 70 overbought threshold and above its signal line. The level to watch next is $1.80, the day's low, which would keep buyers in control if it holds.
