Tether is collaborating with
Phoenix Group to launch a new stablecoin backed by the UAE’s dirham. Additionally, Phoenix Group, a notable crypto miner, conducted a successful IPO, securing $370 million in an over-subscribed round, reflecting strong investor confidence in Middle-Eastern crypto economies. Shares in Phoenix Group surged 35%, underlining its digital currency mining prowess. Phoenix also plans to acquire Bitcoin mining machines worth $187M and announced a $380M deal for sustainable crypto mining equipment. The company recently reported a 50% increase in net income and a 20% sales growth.
Amid these developments, the Phoenix coin continues to make significant strides. A new token,
PhoenixInu, saw a remarkable 10,000% increase, while
Black Phoenix (BPX) saw an impressive 4,000,000% growth in just 24 hours. A lesser-known Phoenix memecoin,
$PHNX, launched with innovative tokenomics. Phoenix BCH Miner raised its hashrate to new highs, which sparked community concerns. Notably, as Bitcoin's value is surging, so too is the Phoenix coin, making it a potentially solid investment.
Nonetheless, challenges are present. Phoenix Wallet, for example, is soon to be delisted from the US App Store amid regulatory issues with self-custody wallets. A separate controversy involves a Phoenix Police 'Challenge Coin' depicting an injured protestor which led to disciplinary action and legal ramifications.
Phoenix Coin News Analytics from Thu, 26 Mar 2020 07:00:00 GMT to Thu, 22 Aug 2024 05:42:38 GMT -
Rating 8
- Innovation 7
- Information 8
- Rumor -2
