3 reasons why Phantasma (SOUL) is chasing after new all-time highs

SOUL/USDT 1-day chart. Source: TradingView

The three primary reasons SOUL has actually been increasing in price are: the addition of cross-chain support to multiple networks, the launch of brand-new protocols on Phantasma, and the general appeal of NFTs in addition to blockchain-based gaming.

When it was at $2.30, Cointelegraph Markets Pro and TradingView data reveal that SOULs cost has actually risen 61.73% considering that Dec. 30. It is now at $3.72 each day on Jan. 3. The SOUL trading volume has actually increased from $3 million to $12,000,000 each hour.

The appeal of blockchain-based video gaming and nonfungible tokens took off in 2021. Their widespread appeal brought in both crypto amateurs and experienced hodlers. This trend helped even more encourage extensive adoption of blockchain technology, and it looks like it will continue into 2022.

Phantasma is a layer-one crypto protocol that specializes on the creation of SmartNFTs, decentralized video gaming apps and other blockchain tasks. Its prices show that it is on the edge of a brand-new record.

Phantasma launches brand-new jobs

The double token system, where SOUL token holders can stake tokens to make Phantasma Energy or KCAL, is among the major benefits of Phantasma over all other chains. These tokens can then be utilized to pay deal fees. Deals are thus totally free for SOUL holders.

The addition of cross-chain interoperability in between numerous blockchain networks, consisting of Ethereum, BSC, and NEO has actually also contributed to Phantasmas strength.

The launch of numerous tasks on Phantasmas network has been among the most significant advancements in the Phantasma community. These include the mobile game Ghost Festival, the role-playing card Blood Rune and the NFT market GhostMarkets.

Cross-chain interoperability

On the 5th day of Christmas #Phantasma offers to you a Layer 1 wise contract community, quad-chain interoperable with $ETH, #BSC and $NEO for fungible tokens and quickly for Non-Fungible Tokens( #NFTs)$ SOUL $BNB #smartNFTs #blockchaingaming #GameFi pic.twitter.com/vcpXmqO66r
— Phantasma (@PhantasmaChain) December 29, 2021

GhostMarket NFT marketplace is currently running its very first decentralized exchange offering (IDO), on Flamingo Finance. It will also have its GM token offered for use on six networks GhostMarket supports, including Ethereum (ETH), Binance Smart Chain( BSC), Phantasma (Phantasma), Avalanche and Polygon.

Phantasma has actually been accredited as a carbon negative blockchain, which has attracted favorable attention. This identifies it from Ethereum, which has a notoriously higher carbon footprint since it utilizes mining.

The Phantasma network can high throughput, in addition to interoperability with other networks. This is since the Phantasma chain can host infinite sidechains, while the network as entire advantages from native oracles integrated directly into its core.

Interoperability is expected to be a major theme in the cryptocurrency community by 2022. Projects that make it a top priority for advancement will likely outperform those that do not. This will encourage crypto users to feel more comfortable transacting across networks.

Related: Samsung Announces NFT Platform for Smart TVs

Gaming and NFT are really popular

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In addition to the increasing interest in NFTs, popular crypto-based games such as Axie Infinity and others have led to the increase of play-to earn games in the crypto ecosystem. Phantasmas low expense and high throughput make it a popular choice for players who desire to optimize their incomes and reduce deal costs.

Jobs that are focused on NFTs and gaming will continue to be popular as NFTs end up being more traditional.

Interest in NFT search gradually. Source: Google Trends

A third factor that Phantasma has actually grown in strength is its appeal with NFT and gaming jobs. Blockchain adoption is also rising.

Google Trends information shows that interest in NFTs is on the rise given that early 2021. When Phantasma presented new jobs and promoted its low-priced capabilities, it reached its peak in December.

The popularity of blockchain-based gaming and nonfungible tokens exploded in 2021. Cointelegraph Markets Pro and TradingView information show that SOULs cost has increased 61.73% given that Dec. 30 when it was at $2.30. The double token system, where SOUL token holders can stake tokens to make Phantasma Energy or KCAL, is one of the major advantages of Phantasma over all other chains. These tokens can then be used to pay deal fees. Jobs that make it a concern for development will likely outshine those that dont.

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