VERUM surges 88%, PHALA jumps 44%, Bitcoin struggles at $94k

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

The global crypto market cap is not trading at its best shape, losing 2.11% in market cap over the last day.

The overall 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.

Amidst this market condition, Verum Coin (VERUM) has surged by over 88%, jumping from a 24-hour low of $1,120.20 to as high as $2,182 at last check Saturday.

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.

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 remains anonymous.

Phala

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 from $0.0357 to $0.6697.

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.