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Monday, July 4, 2022

Phantasma Has Been Chasing All-Time Highs

One project that would be making major moves in the current year is Phantasma, a layer-one blockchain protocol that specializes in creating NFTs. The blockchain also focuses on applications of decentralized gaming- where the price ends up reflecting that it is making a run for a new all-time high.

This has been in the news due to blockchain gaming projects and nonfungible tokens seeing a breakout in popularity over the course of 2021. This was massively due to the appeal which then led to the attention of crypto newbies and experienced holders at the same time. This trend would further help in the initiation of mass adoption of the technology of blockchain and would extend beyond this year. 

Phantasma Ready To Make Waves This Year

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According to data that was received from TradingView and Cointelegraph Markets Pro, it has been identified that ever since hitting a low of $2.30 on the 30th of December, the price of Phantasma has gone up by 61.73% to a daily high at around $3.72 on the 3rd of January, with the trading volume over 24 hours increasing from an average $3 million to around $12 million. There are definitely a few reasons behind the increase in the price of Phantasma with the launch of several new protocols being one of them. 

One of the biggest developments that have come out of the ecosystem of Phantasma over the last few weeks has been the initiation of quite a few projects on the network. This includes the card game Blood Rune, the mobile game Ghost festival, and the marketplace for NFTs GhostMarkets. 

One of the main draws of utilizing Phantasma over other chains has been the dual token system where the token holders of the blockchain can easily stake their tokens to earn Energy. These can then be turned into paying for transaction fees, which essentially makes transactions free for the holders of SOUL.

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