Why Phantasma (SOUL) is Seeking New All-time Highs
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Why Phantasma (SOUL) is Seeking New All-time Highs

BTC Peers reporter
BTC Peers reporter

Throughout 2021, nonfungible tokens (NFTs) and blockchain-based gaming initiatives experienced a surge in popularity. This surge was due to their extensive appeal, drawing in both crypto novices and seasoned hodlers. This tendency aided in the widespread acceptance of blockchain technology, and it appears that it will continue beyond 2022.

One of such projects is Phantasma (SOUL), a layer-one blockchain technology focused on developing SmartNFTs and decentralized gaming applications. Its pricing indicates that it is on the verge of setting a new high. According to data from CoinTelegraph Markets Pro and Trading View, the price of SOUL has risen 61.73% from a low of $2.30 on the 30th of December, 2021 to a daily high of $3.72 on the 3rd of January, 2022 as its 24-hour trading volume soared from an average of $3 million to $12 million.

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The introduction of various projects on the Phantasma network has been one of the most significant developments in the ecosystem in recent weeks. Some of these projects include; Blood Rune, a role-playing card game, Ghost Festival, a mobile game, and GhostMarkets, an NFT marketplace.

The addition of cross-chain compatibility with many blockchain networks, including Ethereum, BSC, and NEO, is another important cause for Phantasma's growing power. In addition to interoperability with other networks, the Phantasma chain can achieve significant throughput levels on its own. This is due to the network's ability to support limitless sidechains, as well as the fact that native oracles are integrated right into the heart of its design.

The addition of cross-chain compatibility with many blockchain networks, including Ethereum, BSC, and NEO, is another important cause for Phantasma's growing power. In addition to interoperability with other networks, the Phantasma chain can achieve significant throughput levels on its own. This is due to the network's ability to support limitless sidechains and the fact that native oracles are integrated right into the heart of its design.