Phantasma (SOUL) Shines in A Struggling Crypto Market

Crypto investors were forced to witness a prolonged correction as the market declined after one of the biggest bullish rallies the industry has ever seen.

Crypto investors were forced to witness a prolonged correction as the market declined following one of the biggest bullish rallies the industry has ever seen.

While all the top cryptos, including Bitcoin and Ethereum, saw losses of more than 5%, a lesser-known crypto, Phantasma (SOUL), thrived. 

SOUL has set multiple record-highs in the last week, the highest being $3.39 on November 25. Despite experiencing a sharp correction that sent its price down to $2.39, SOUL is back up by more than 20%, pushing its price up to $2.8975.

The 7 days price chart of Phantasma (SOUL). Source: TradingView

In the last seven days, SOUL has gained more than 70%, with the price of SOUL growing from $1.59 to $3.39 – however, the token now trades at $2.8975.

The 30 days price chart of Phantasma (SOUL). Source: TradingView

Over the last 30 days, SOUL has gained more than 390%, making it one of the best performing cryptos. Phantasma is now ranked as the 190th largest cryptos, with a market cap of $298 million.

What is Phantasma?

Phantasma is a blockchain for NFTs, gaming, and dApps that is fast, secure, and decentralized. Phantasma’s blockchain supports some of the most advanced NFT capabilities in the industry and is home to carbon-neutral Smart NFTs.

Sponsored

Phantasma is a blockchain layer built for the future of gaming. The developers focus on a smooth experience with increased developer revenue and empowering gamers through digital item ownership.

SOUL is the governance token of the Phantasma network. However, it is not the only token in the ecosystem. KCAL serves as the energy token of Phantasma, allowing interoperability with other blockchains while maintaining a decentralized governance system.

On The Flipside

  • Although Phantasma has some of the best technologies, it does not enjoy as much adoption and uses as more popular platforms

Why You Should Care?

Time in the crypto space has proven that the most profitable investments are the lesser-known cryptos, rather than the market leaders like Bitcoin and Ethereum.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Milko Trajcevski

Milko Trajcevski is a DailyCoin news reporter, mainly focused on Ethereum (ETH), Cardano (ADA), and their founders (Vitalik Buterin and Charles Hoskinson). Milko is an avid follower of crypto and blockchain technology and has written thousands of articles on the subjects. He finds joy in transforming complex issues into written content that anyone can understand. Milko has used and analyzed numerous exchanges, such as Coinbase, FTX, and Binance. He also closely follows all of the latest news around the largest decentralized exchanges (DEXs). Location: Skopje, Macedonia