Phala Network, known for its secure computing on Polkadot, has launched a new Layer 2 rollup on Ethereum.

In a recent development, Binance has expanded its support for Phala Network (PHA), Steem (STEEM), and Usual (USUAL). Although this development provides a bullish outlook for these coins, they have experienced significant price drops due to the current bearish sentiment in the broader crypto market.

Polkadot-based parachain Phala has launched its Ethereum layer-2 network to expand its reach. The move continues the trend of new rollup networks on Ethereum and marks an advancement in rollup infrastructure.

Phala Network said on January 8 that it launched the first-ever Op-Succinct Layer 2 rollup on Ethereum. This initiative is the result of a partnership with Succinct Labs and Conduit.

Phala, a Polkadot-based parachain and verifiable computing platform, has launched a new Layer 2 network on Ethereum.

Binance announced new perpetual contracts for Phala Network (PHA) and dForce (DF) with up to 75x leverage. This news sparked excitement in the market, amid a remarkable 310% weekly surge for PHA and a 120% monthly gain for DF.

Bitgets strategic move to list Phala Network (PHA) sparked a 56% price increase. The crypto exchanges zero-fee transaction promotion and growing trading volume highlight the tokens rising prominence.

Phala Network has recently emerged as the talk of the crypto town, emerging on investors' radars as its token witnessed phenomenal price gains. PHA price gained over 50% against the backdrop of a major crypto exchange expanding support for the token.

As part of a new agreement, Phala Network will enhance its AI capabilities using io.net's GPU cloud infrastructure, making advanced computation more accessible. GPU cloud network io.

io.net, a decentralized GPU cloud network, has entered into a strategic partnership with Phala Network to advance secure computation and decentralized AI. The collaboration will leverage io.net's cloud platform, IO Cloud, to provide Phala Network with access to high-performance GPU hardware, enhancing its ability to support TEE (Trusted Execution Environment) CPU nodes.

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Decentralized Physical Infrastructure Networks (DePIN) have emerged as a groundbreaking sector. With several projects taking clear strides to be the best within the category.

Phala Network, a lesser-known project in the cryptocurrency space, has recently gained attention as its native token, PHA, started trending on CoinMarketCap. With the sudden surge in interest, many are left wondering about the project's background, its team, and whether it's a bullish or bearish signal for the token.

Have you seen everything it takes for a project to win a Polkadot parachain slot? Staking DOT, voting on governance measures, pledging DOT for the crowdloan, winning a slot by pledging the most, and marketing your project so you can win the slot.

Three altcoins flying under the radar – QUACK, PHA, and AGIX – have delivered gains of up to 200 percent in a single week.