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Phala Network has recently captured the spotlight in the cryptocurrency realm, as its token experiences remarkable price increases drawing attention from market participants. The PHA price surged by over 50% following a leading cryptocurrency exchange’s expanded support for the token. This development raises curiosity among market players regarding the future price movements of the token, which integrates artificial intelligence (AI) with blockchain technology.
Phala Network Boosts Optimism with Bitget Support
According to an official press release on December 28, the prominent cryptocurrency exchange Bitget has listed Phala Network (PHA) within the Innovation, AI, and DePIN Sector. This decision by the exchange aims to present innovative projects that redefine blockchain technology to a broader market.
The announcement specifies that deposits for the asset are now open, with trading commencing on December 27 at 11:00 (UTC). Additionally, withdrawals for the same asset will be enabled starting December 28 at 12:00 (UTC). Notably, the PHA/USDT trading pair will be available for the exchange’s extensive user base, facilitating seamless access to this advanced Web3 AI ecosystem.
What’s Next for Cryptocurrency?
Furthermore, to further extend its support, Bitget is offering a special 7-day promotion for the crypto project. During this period, platform users can purchase PHA using credit or debit cards without incurring transaction fees. Generally, as the leading cryptocurrency exchange enhances its support for the token, market observers are viewing the token more optimistically in light of increased market visibility.
At the time of the report, the PHA price had risen approximately 56% on a daily basis, trading at $0.5372. The 24-hour low and high were recorded at $0.3605 and $0.5483 respectively. Interestingly, traders also reacted positively to the listing announcement, with daily trading volume increasing by 304% to $850.61 million.
Additionally, market observers expect further gains as trading for the asset commences. Past similar events have shown a positive impact on token prices post-listing. CoinGape reported that the PENGU token achieved significant gains after being listed on Bithumb, adding a bullish trend for Phala Network (PHA).
The listing of Phala Network on Bitget has led to increased market visibility for the token, resulting in price hikes. With the promotions offered and a large user base, the future performance of PHA is closely monitored by market participants. The advantages provided by the integration of artificial intelligence and blockchain are expected to bolster Phala Network’s position in the industry.
