Phoenix Coin has been making rounds in the crypto market, following a hefty series of activities impacting its standing and perception. At the forefront of these activities is
Tether, planning to develop a UAE Dirham-Pegged stablecoin in collaboration with the Phoenix Group. The rise in Phoenix Coin's price and market cap, along with its upcoming listing on
DePINScan, further bolsters its market position. The launch of the coin emphasizes its
innovative tokenomics and communal focus, distinguishing itself from a traditional
memecoin.
The Phoenix Group's ventures extend beyond cryptocurrency, notably into Bitcoin mining. Phoenix BCH Miner's exponential growth has raised concerns because of the elevated hashrate. The same group recently secured a
$380M deal for sustainable Bitcoin mining equipment, following a
$187M investment in mining machines from Bitmain. Additionally, Phoenix Wallet's delisting from the US App Store unexpectedly threw it into the spotlight.
In further developments, Phoenix Group’s initial IPO in the UAE was reportedly 33-times oversubscribed, reflecting exceptional investor confidence in the Middle Eastern crypto economy. Phoenix Coin is also on the radar for the wrong reasons, with 30 or more Phoenix officers found tied to
hate speech on the Parler social media network.
Phoenix Coin News Analytics from Tue, 22 May 2012 20:41:36 GMT to Fri, 25 Oct 2024 10:19:34 GMT -
Rating +8
- Innovation +7
- Information +6
- Rumor +4
