When BTC was pulling back all the way, $PHA still walked out a relatively independent trend; this kind of resilience itself is the market’s choice. Phala Network focuses on privacy computing and TEE nodes, and belongs to the kind of “dark matter” asset that is easy for capital to forget, but gets repriced once sentiment returns.
From the data, the current quote is around $0.02542, the 24-hour trading volume is $5.7 million, and the market cap is about $21.37 million. Its position is not heavy, and the holdings are not particularly concentrated, which also means that once there is incremental buying, the price elasticity should be more obvious.
What really determines the next move is still BTC’s attitude: once BTC rebounds from the current level, the small- and mid-cap chains that have shown relatively strong downside resistance before are often repaired in sync, and $PHA is a typical example. Conversely, if BTC continues to break down, the short term will still mainly be range-bound, and attention should be paid to changes in on-chain node activity and developer data.
#DeFi #PhalaNetwork
From the data, the current quote is around $0.02542, the 24-hour trading volume is $5.7 million, and the market cap is about $21.37 million. Its position is not heavy, and the holdings are not particularly concentrated, which also means that once there is incremental buying, the price elasticity should be more obvious.
What really determines the next move is still BTC’s attitude: once BTC rebounds from the current level, the small- and mid-cap chains that have shown relatively strong downside resistance before are often repaired in sync, and $PHA is a typical example. Conversely, if BTC continues to break down, the short term will still mainly be range-bound, and attention should be paid to changes in on-chain node activity and developer data.
#DeFi #PhalaNetwork