Phala Network (PHA) Price Rockets 50% Upon Major Listing, What’s Next?

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As a seasoned crypto investor with a knack for spotting promising projects, I find myself intrigued by the recent surge of Phala Network (PHA). The integration of AI with blockchain technology is a game-changer, and I believe this project has the potential to revolutionize the industry.

Word on the street is buzzing about Phala Network, a crypto sensation that’s captured the attention of investors as its token, PHA, skyrocketed by more than 50%. This surge in value comes after a major cryptocurrency exchange decided to back the token. Now, market players are eagerly watching and predicting how the token will perform next, given it combines artificial intelligence (AI) with blockchain technology.

Phala Network Gains Bitget’s Backing Sparking Optimism

Based on a press statement issued on December 28th, the prominent crypto trading platform Bitget is set to include Phala Network (PHA) within its Innovation, AI, and DePIN Zone. This move by the exchange aims to provide an avenue for innovative blockchain projects, like Phala Network, to reach a wider audience.

As an analyst, I’m excited to share that the announcement has unveiled the opening of deposits for our new asset, with trading set to commence on December 27 at 11:00 (UTC). This is followed by enabling withdrawals starting December 28 at 12:00 (UTC). Notably, the PHA/USDT trading pair will be accessible to our vast user base, paving the way for a smooth transition into this cutting-edge Web3 AI ecosystem.

Additionally, to boost its backing even more, Bitget is running a 7-day promotional event for the cryptocurrency project. During this timeframe, users on the platform can buy PHA without any transaction fees using credit or debit cards. As Bitget broadens its support for the token, market observers are hopeful about the token’s potential due to increased market exposure.

What’s Next For The Crypto?

As of this update, the price of PHA surged approximately 56% during the day and is now being exchanged at $0.5372. Its lowest and highest points within the last 24 hours were $0.3605 and $0.5483 respectively. Interestingly, traders showed a favorable response to the listing announcement as the daily trading volume experienced a significant increase of 304%, reaching a staggering $850.61 million.

Moreover, market experts predict further growth for the asset once trading begins, with historical data suggesting that tokens often see price increases after being listed. Interestingly, CoinGape reported that the PENGU token experienced significant gains following its listing on Bithumb, which has given Phala Network (PHA) a more optimistic outlook.

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2024-12-28 14:37