Recently, Phala Network has managed to attract attention in the crypto world and has entered the radar of investors with the extraordinary price increases recorded by its token. Phala Network’s PHA coin has gained over 50% with the support of a major crypto exchange. Market participants are predicting the future price movements of this token, which has the integration of artificial intelligence (AI) and blockchain technology.
Phala Network Receives Major Support from Bitget$PHA
Leading crypto exchange Bitget announced on December 28 that it will list Phala Network (PHA) in the Innovation, Artificial Intelligence, and DePIN region in a press release. With this announcement, deposits for Phala Network were opened and transactions began as of December 27 at 14:00 CET. In addition, withdrawals became possible as of December 28 at 15:00 CET. In particular, the PHA/USDT trading pair will be available for trading for Bitget’s large user base. This step will help Phala Network provide seamless access to the Web3 AI ecosystem. In addition, Bitget launched a special promotion for Phala Network for 7 days. During this period, users will be able to purchase PHA tokens with zero transaction fees with credit or debit cards. The crypto exchange continues to increase support for the token, reinforcing optimism.
PHA Coin Continues to Rise
The PHA price saw a major surge following the announcement, gaining 56% during the day. Currently trading at $0.5372, PHA recorded its lowest and highest prices in 24 hours at $0.3605 and $0.5483, respectively. The trading volume increased by 304% during the day, reaching $850.61 million, indicating that traders responded positively to the listing announcement. In addition, similar listings have been observed to have positive effects on token prices in the past. For example, the PENGU token saw significant gains after being listed on Bithumb. These developments have led to optimistic expectations about the future potential of the Phala Network.
Il Capo of Crypto Adds Phala Network to Its Portfolio
The analyst Il Capo of Crypto, who is generally known for his bearish predictions in the crypto world, praised the recent impressive performance of Phala Network (PHA) and added PHA tokens to his portfolio. The price increase in the last 24 hours attracted attention in the market. Il Capo stated that this success provides important clues about how artificial intelligence (AI)-based altcoins could perform in the future. Phala Network (PHA) is in the category of small-cap AI altcoins with a market cap of $385 million. Il Capo also announced that he increased his investments in other AI altcoins such as DATA and that ENA and AIOZ tokens are also in his portfolio.
This new support and performance of Phala Network indicate future earning opportunities for investors. PHA token, which draws attention with its AI and blockchain integration, may attract more attention in the future.