$PHA
Phala Network is a decentralized cloud computing platform built on Trusted Execution Environments (TEEs), designed to let developers build confidential smart contracts and applications without exposing sensitive data. It operates as a Polkadot parachain, giving it interoperability with the broader Polkadot ecosystem, while also expanding into off-chain AI and privacy-preserving compute — a narrative that's gained traction as demand grows for verifiable, private on-chain data processing.
The token (PHA) is used to pay for computing resources, cover data exchange fees, and participate in network governance. With a circulating supply of roughly 840M out of a 1B total supply, most of the token's supply is already in circulation, meaning inflation-driven dilution isn't a major near-term risk.
💰 Market Cap: ~$17M – $21.5M
📈 24h Volume: ~$6M – $10M
🔑 Category: Privacy / Confidential Compute
At this size, PHA trades as a small-cap with reasonable liquidity relative to its market cap — worth watching if the privacy-compute narrative (TEEs, ZK, confidential AI) picks up steam again.
Phala Network is a decentralized cloud computing platform built on Trusted Execution Environments (TEEs), designed to let developers build confidential smart contracts and applications without exposing sensitive data. It operates as a Polkadot parachain, giving it interoperability with the broader Polkadot ecosystem, while also expanding into off-chain AI and privacy-preserving compute — a narrative that's gained traction as demand grows for verifiable, private on-chain data processing.
The token (PHA) is used to pay for computing resources, cover data exchange fees, and participate in network governance. With a circulating supply of roughly 840M out of a 1B total supply, most of the token's supply is already in circulation, meaning inflation-driven dilution isn't a major near-term risk.
💰 Market Cap: ~$17M – $21.5M
📈 24h Volume: ~$6M – $10M
🔑 Category: Privacy / Confidential Compute
At this size, PHA trades as a small-cap with reasonable liquidity relative to its market cap — worth watching if the privacy-compute narrative (TEEs, ZK, confidential AI) picks up steam again.