VERUM and PHALA Show Double-Digit Gains Amidst Bearish Market Conditions

The price of VERUM and PHALA has shown double-digit gains, while Bitcoin has retraced to the $94,000 level.

Crypto prices today: Bitcoin retraces to $94K; VERUM, PHALA record double-digit gains

The global crypto market cap is not having the best of days, losing 2.11% in market cap over the last day. Bearish market conditions are visible across all top coins, with Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) showing a pullback in the last 24 hours.

However, some altcoins are rallying in the red market. Verum Coin (VERUM) price showed a surge of 88% within the last 24 hours. The coin’s price pulled back from a 24-hour low of $1,120.20 to trade as high as $2,182 at last check Saturday.

The coin’s popularity is perhaps tied to Verum Runner, a game that debuted in 2024. It integrates cryptocurrency elements, allowing players to collect in-game V Coins and convert them to Verum Coins. The development team behind Verum Coin is anonymous.

Last week, Verum announced via social media that the coin was available on the Halo Wallet. Before that, the project confirmed that it was available on the Binance Web3 Wallet.

Meanwhile, Phala (PHA) saw a 45% surge in price within the last 24 hours. The coin’s price spiked from $0.3716 to $0.5893 before retracing to its current price of $0.5406.

The PHALA team has recently introduced Phala 2.0, which may have inspired the price surge. However, one of the most notable reasons for the surge could be the news that Phala Network and ai16z are experimenting with AI in a new collaboration.

Third on the list of top gainers is aixCB by Virtuals, which rallied close to 50% in the last 24 hours. The community-driven venture capital powered by AI has over 140,000 community members, 23 grants in progress, and has given out $5 million in rewards.

The project has also hit $20 million in staking rewards in two weeks, which could have helped in pushing the price higher.