There is tough competition in the blockchain-as-a-service (BaaS) industry, with many networks designed to give enterprises a crypto presence.
Phoenix Global was one of the first having launched in 2017. But its PHB cryptocurrency has suffered from a long-term bearish trend.
However, at the time of writing, it was up 330% over the past seven days after recently being listed on Binance.
What is Phoenix Global?
Phoenix Global is offering blockchain and cryptocurrency solutions for enterprises. It was designed with the client in mind, with it claiming it can be used across various industries, including retail, travel, finance, and automotive.
There are various benefits to using Phoenix Global’s services, according to its website. There is a built-in oracle, allowing a connection between the network and external non-blockchain information.
The blockchain also allows clients to create their own sidechains and applications. Its multi-layered smart contract system increases the scalability of these features.
PHB was designed to finance the ecosystem. The cryptocurrency is used to pay for Phoenix Global’s products and to execute transactions on the blockchain. Its whitepaper said:
“PHB will integrate into all Phoenix Oracle modules and will be used as payment for any and all usage related to data requests and price-feed streams.”
Phoenix Global’s price history
Phoenix Global’s cryptocurrency first launched on 28 October 2017 at $0.06 under the ticker handle, PHX. It almost instantly rocketed to a high of $0.80 on 8 January 2018, before closing the year at $0.23
PHX continued its bearish trend throughout the following three years, stooping to its all-time low of $0.0011 on 13 March 2020.
In attempt to solve PHX’s bearish trend, the cryptocurrency underwent a redenomination for its supply in November 2021. This was also spurred by the migration from the NEO blockchain to the BNB Chain.
Phoenix Global reduced its supply by 100 times with the new PHB cryptocurrency. Investors could swap their tokens at a rate of 100 PHX for one PHB.
PHB/USD price chart
PHB did see a slight price bump with it fluctuating around the $0.80 level, but eventually continued its downward trajectory.
The crypto crash in 2022 saw PHB fall even further. It dropped to its all-time low of $0.066 on 12 May 2022, according to CoinMarketCap.
However, it saw a significant surge recently as the Binance exchange added cross margin and isolated margin support for PHB with the BUSD pairing, with it achieving its all-time high on 13 September of $2.55.
At the time of writing, on 15 September, PHB was trading at $1.50, up a staggering 330% over the past seven days.
Phoenix global price prediction round-up
At the time of writing, forecasters have been conflicted about whether PHB can continue this breakout.
Gov Capital was one of the most bearish, forecasting it could eventually become worthless. Its PHB crypto price prediction said it could have fallen to $0 in October 2022.
WalletInvestor said it was a “bad” long-term investment and its phoenix global price prediction for 2022 suggested it could have fallen to $1.11 in a year. By the end of 2025, the PHB coin price prediction anticipated a further drop and suggested to could have gone on to $1.05.
On the other hand, DigitalCoinPrice estimated an average price of $1.77 for this year. Its phoenix global price prediction for 2030 said the cryptocurrency could have climbed to $18.99 in 2030.
CryptoPredictions forecasted a steady rise for the cryptocurrency. Its phoenix global price prediction for 2025 anticipated it could have reached an average price of $2.24 by the end of the year.
When considering a PHB price prediction, it’s important to keep in mind that cryptocurrency markets remain extremely volatile, making it difficult to accurately predict what a coin or token’s price will be in a few hours, and even harder to give long-term estimates. As such, analysts and algorithm-based forecasters can and do get their predictions wrong.
If you are considering investing in cryptocurrency tokens, we recommend that you always do your own research. Look at the latest market trends, news, technical and fundamental analysis, and expert opinion before making any investment decision. Keep in mind that past performance is no guarantee of future returns. And never trade with money that you cannot afford to lose.
Is phoenix global a good investment?
Phoenix Global is offering enterprises the tools to create a blockchain presence. Clients can use the PHB cryptocurrency to build their own sidechains or utilise Phoenix Global’s decentralised apps (dApps).
In volatile cryptocurrency markets, it is important to do your own research on a coin or token to determine if it is a good fit for your investment portfolio. Whether the PHB token is a suitable investment for you depends on your risk tolerance and how much you intend to invest, among other factors. Keep in mind that past performance is no guarantee of future returns. And never invest money that you cannot afford to lose.
Will phoenix global go up or down?
At the time of writing, forecasters are divided. DigitalCoinPrice has anticipated a steady rise for PHB, whereas Gov Capital said it could have become worthless this year.
In volatile cryptocurrency markets, it is important to do your own research on a coin or token to determine if it is a good fit for your investment portfolio. Whether PHB is a suitable investment for you depends on your risk tolerance and how much you intend to invest, among other factors. Keep in mind that past performance is no guarantee of future returns. And never invest money that you cannot afford to lose.
Should I invest in phoenix global?
PHB saw a surge of almost 330% over the past seven days, as of 15 September. But you should bear in mind that this price rise is not guaranteed to continue.
Whether you should invest in phoenix global is a question that you will have to answer for yourself. Before you do so, however, you will need to conduct your own research and never invest more money than you can afford to lose because prices can go down as well as up.