PHA, MDX and Quack See Price Double Despite a Bearish Week

Phala (PHA), RichQuack (QUACK), and Mdex (MDX), three relatively unknown tokens, saw their prices double in a week whereas many of the top cryptocurrencies saw their value drop.

The three tokens were part of the top gainers last week, according to data from CoinMarketCap. $PHA increased by 194%, $MDX by 114%, and $QUACK by 118%.

RichQuack (QUACK) price continues to climb

RichQuack, a meme coin based on the BNB chain, is up 236% in the last 90 days and has been one of the best bear market performers. The social interest in the token is also high, as it topped the watchlist on CoinMarketCap in August and is second in the last seven days. 

With a market cap of $109 million and a trading volume of $4.9 million in the last 24 hours, it is currently trading at $0.00000002422.

RichQuack 7-day price performance (Source: Tradingview.com)

The token’s recent rise has been due in part to its burning. It has a total supply of 100 quadrillions, and 50% is scheduled for burning. Around 89 trillion QUACK tokens were burned over the last seven days. Its deflationary nature and utility are the likely catalyst for its rise.

Phala Network (PHA) price climbs over 70%

Meanwhile, Phala Network PHA is trading at $0.2710 after gaining over 200% in a week. The privacy-focused cloud network token does not look like it will stop rising anytime soon, as it has risen by 15% over the last 24 hours.

The network has seen some recent upgrades and innovations on its platform. It has also recently been listed on crypto exchanges like Gate.io, increasing exposure to the token. According to CoinMarketCap data, its market cap rose by over 70% in the last 24 hours to over $1 billion.

Phala 7-day price performance (Source: Tradingview)

Mdex (MDX) price sees big jump

MDX also increased by 114% over the week to trade at $0.1355. But unlike PHA, it has shed some of its gains in the last 24 hours, losing 14.69%. Its trading volume within the period is also only $80 million.

The native token of the Mdex decentralized exchange saw a positive price performance during the week after announcing a perpetual trading feature on the DEX. The total value of assets locked in the DEX had increased by over 15% over the last seven days to $127.46 million, according to DeFillama data.

Mdex 7-day price performance (Source: CoinMarketCap)

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