Phala Network has become a hot topic in the crypto world lately, and its token has entered the radar of investors with extraordinary price increases. PHA price gained over 50% after a major crypto exchange expanded its support for the token. In the face of this development, the future price movements of the token, which integrates artificial intelligence (AI) and blockchain technology, are eagerly awaited by market participants.
Phala Network Increases Optimism with Support from Bitget
According to an official press release dated December 28, leading crypto exchange Bitget lists Phala Network (PHA) in the Innovation, Artificial Intelligence and DePIN Zone. This decision of the exchange was taken as part of its effort to bring innovative projects that redefine blockchain technology to the wider market.
Specifically, the announcement stated that deposits for the asset are now open and trading will begin at 11:00 UTC on December 27. Additionally, withdrawals for the same asset will be activated from 12:00 UTC on December 28. In particular, the PHA/USDT trading pair will be available to the platform’s large user base. This initiative aims to provide seamless access to this advanced Web3 AI ecosystem.
What’s Next for Crypto?
Moreover, to further expand support, Bitget is offering a special 7-day promotion for the crypto project. During this period, the platform’s user base can purchase PHA using credit or debit cards and does not pay any transaction fees. Overall, market observers are optimistic about the token in light of the increased market visibility as the leading crypto exchange expands its support for the token.
At press time, PHA price is currently trading at $0.5372, up nearly 56% on a daily basis. The 24-hour low and high were $0.3605 and $0.5483 respectively. Interestingly, traders also reacted positively to the listing announcement, with daily trading volume rising 304% to $850.61 million.
Moreover, market observers expect additional gains with the start of trading for the asset. Notably, similar past events show a positive impact on post-listing token prices. CoinGape reported extraordinary gains with the listing of the PENGU token on Bithumb. This past event added bullish sentiment for Phala Network (PHA).
The listing of Phala Network on Bitget increased the market visibility of the token, leading to a price increase. With the promotions offered and its large user base, PHA’s future performance is closely monitored by investors. The advantages provided by artificial intelligence and blockchain integration are expected to strengthen Phala Network’s position in the industry.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
