Altcoin News

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

Phala Network has gained backing from a top crypto exchange, Bitget, securing listing. PHA price gained over 50% in the aftermath.
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Phala Network (PHA) Price Rockets 50% Upon Major Listing, What’s Next?

Highlights

  • Phala Network gains support from Bitget.
  • The crypto exchange unveiled listing for the crypto in PHA/USDT trading pair.
  • PHA price gained over 50%.

Phala Network has recently emerged as the talk of the crypto town, emerging on investors’ radars as its token witnessed phenomenal price gains. PHA price gained over 50% against the backdrop of a major crypto exchange expanding support for the token. As a response, market participants anticipate the future price action of the token that boasts the integration of artificial intelligence (AI) with blockchain technology.

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Phala Network Gains Bitget’s Backing Sparking Optimism

According to an official press release dated December 28, the leading crypto exchange Bitget is listing Phala Network (PHA) in its Innovation, AI, and DePIN Zone. This decision by the exchange comes in an effort to offer innovative projects redefining blockchain technology to the broader market.

Notably, the announcement revealed that deposits for the asset are now open, with trading to commence on December 27 at 11:00 (UTC). Further, withdrawals for the same will be enabled starting December 28 at 12:00 (UTC). In particular, the PHA/USDT trading pair will be available for trading for the platform’s colossal user base. This endeavor ensures providing seamless access to this advanced Web3 AI ecosystem.

Moreover, to further expand support, Bitget is offering a special 7-day promotion for the crypto project. The platform’s user base can purchase PHA using credit or debit cards with zero transaction fees during this period. Overall, as the top crypto exchange expands support for the token, market watchers optimistically eye the token in light of enhanced market visibility.

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What’s Next For The Crypto?

At the time of reporting, PHA price gained roughly 56% intraday and is currently trading at $0.5372. Its 24-hour low and high were $0.3605 and $0.5483, respectively. Intriguingly, traders also reacted positively to the listing announcement as the intraday trading volume witnessed a 304% uptick to $850.61 million.

Further, market watchers anticipate additional gains as the trading for the asset commences ahead. Notably, similar past chronicles reflect a positive impact on tokens’ prices post-listing. CoinGape reported the PENGU token to have witnessed phenomenal gains as it secured listing on Bithumb. This past chronicle has added a bullish tint to Phala Network (PHA).

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CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

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Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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