Phala Network has emerged as a focal point in the cryptocurrency sector due to a substantial surge in token value.
Impact of Bitget’s Support
Cryptocurrency exchange Bitget announced on December 28 that it has officially listed Phala Network (PHA) under its Innovation, AI, and DePIN Sector. This strategic move aims to introduce groundbreaking projects that could potentially reshape the blockchain landscape to a wider audience.
Prospects for PHA's Continued Rise
As part of this announcement, the exchange opened deposits for PHA, with trading starting on December 27. Users can now trade PHA/USDT, enhancing accessibility to this innovative Web3 AI ecosystem. Bitget is also running a special 7-day promotion, allowing users to purchase PHA using credit or debit cards without transaction fees.
Factors Behind Phala Network's Success
Recent trading activity indicates that the PHA token is gaining traction, with a staggering 56% increase in price, reaching $0.5372. Daily trading volume surged by 304%, hitting $850.61 million, reflecting heightened interest following the listing announcement. Market expectations are leaning towards continued upward momentum, as historical trends often show price increases post-listing. Success factors include a significant price increase following Bitget’s support, enhanced visibility from being listed on a major platform, a promotional period that eliminates transaction fees for users, and the integration of cutting-edge AI technology within its blockchain framework.
The addition of Phala Network on Bitget has not only boosted its market profile but also sparked optimism regarding its future growth due to the unique combination of artificial intelligence and blockchain technology.
