Current Market Snapshot
The current price of Phala Network (PHA) is $0.09935 USD. This represents a 24-hour change of +1.08%. Here is a quick overview of the key market metrics:
- Market Capitalization (USD): $79.61 million
- 24-Hour Trading Volume (USD): $11.23 million
- Circulating Supply: 801.3 million PHA
- Maximum Supply: 1 billion PHA
This data provides a real-time glimpse into the asset's market performance and economic structure.
Price Performance and Chart Analysis
Tracking the price movements of any digital asset is crucial for market participants. The Phala Network chart (USD) offers valuable insights into historical performance, trends, and potential support and resistance levels. Analyzing these patterns can help in understanding both short-term volatility and longer-term trajectory.
General Information and Resources
Beyond price, several key pieces of information are vital for a comprehensive understanding of the Phala Network project.
Contract Address (Ethereum):
0x6c5bA91642F10282b576d91922Ae6448C9d52f4E- Always verify contract addresses directly through the project's official channels before conducting any transactions to avoid scams.
Monitoring a project's official social media channels is also highly recommended for official announcements, community updates, and development progress.
About Phala Network
Phala Network is a decentralized cloud computing service that aims to provide massive processing power without compromising data privacy. It leverages a network of nodes utilizing Trusted Execution Environments (TEEs) to create a secure off-chain computing infrastructure. This technology enables smart contracts to handle confidential data, opening up new possibilities for decentralized applications (dApps) that require privacy.
As of its latest data, it holds a market rank of #493 among thousands of digital assets. The project continues to develop its ecosystem, focusing on bridging the gap between blockchain and private data computation.
Market Sentiment and Community Perspective
Gauging market sentiment is a common practice among traders and enthusiasts. Community polls and social media discussions can offer a perspective on the current mood surrounding an asset, whether it's bullish, bearish, or neutral. However, it's important to combine sentiment analysis with fundamental and technical research.
To get a deeper understanding of how such technologies work and their market implications, you can 👉 explore more strategies for evaluating privacy-focused crypto assets.
How to Track and Convert PHA Prices
For those looking to track the value of PHA in their local fiat currency, many platforms offer built-in currency converters. These tools typically allow you to view the asset's value in US Dollars (USD), Euros (EUR), and other major global currencies, providing a convenient way to assess its worth without manual calculation.
Price tracking pages are integral parts of major crypto market indices, offering not only live prices but also historical data, detailed charts, and key statistics for top cryptocurrencies.
Frequently Asked Questions
What is Phala Network (PHA) used for?
PHA is the native utility token of the Phala Network. It is used for various functions within its ecosystem, including paying for computing services, staking by network operators (miners) to secure the network, and participating in on-chain governance. It facilitates all economic activities on the privacy-preserving platform.
Where can I buy Phala Network?
PHA is listed on several major cryptocurrency exchanges. To acquire it, you would typically need to create an account on a supporting exchange, deposit funds (either fiat currency or another cryptocurrency like BTC or ETH), and then execute a trade for PHA. Always ensure you are using a reputable and secure platform.
What makes Phala Network unique?
Its core uniqueness lies in its focus on privacy-oriented computation. By utilizing TEE technology, it allows developers to build dApps that can process sensitive data off-chain securely while still being verifiable on the blockchain. This addresses a significant limitation in many smart contract platforms today.
What is the total supply of PHA tokens?
The maximum supply of PHA tokens is capped at 1 billion. The current circulating supply is approximately 801.3 million tokens, which are actively traded in the market. The emission rate and distribution schedule are governed by the project's protocol.
How do I securely store my PHA tokens?
You can store PHA in any wallet that supports the ERC-20 token standard, as it is primarily an Ethereum-based token. This includes a wide range of options from hardware wallets (most secure) to software and mobile wallets (more convenient). Remember to never share your private keys or recovery phrases with anyone.
Is Phala Network a good investment?
As with any digital asset, investing in PHA carries inherent risks and requires thorough personal research. Its value proposition is tied to the adoption of its private computing infrastructure. You should evaluate the project's technology, team, use cases, and market competition before making any investment decision.