Gala crypto price rises as token holders retreat
The gala price retreated on Monday, even as other cryptocurrencies retreated. The Gala cryptocurrency rose to a high of $0.038, which was a few points above this week’s low of $0.033. It has fallen more than 38% from its February high.
Gala Games ecosystem growth
Gala Games is one of the biggest players in the blockchain gaming industry. It is a platform where anyone with a computer can play games and earn rewards. Most games in the ecosystem are in development, although developers have launched several games in the ecosystem. Some of the games on the platform include Mirandus, Spider Tanks and Town Crash.
Analysts expect the gaming industry to continue to do well in the coming months. Most of this growth will come from Asian countries such as South Korea and Japan. Some Chinese companies are also building blockchain games.
If the industry succeeds, Gala Games has all the ingredients it needs to become a leading player in the sector. For example, it has that expertise, considering its founder was the creator of Zynga, a company that was acquired in an $11 billion deal in 2022.
Furthermore, it has an active developer base, which continuously builds games for the ecosystem. There are now dozens of games in development. The most important thing is that the developers create their own chain that will increase speed and reduce transaction costs.
Gala Games developers also enable most of their games to be available on mobile platforms like Android and iOS. These actions will make the ecosystem more robust and accessible to billions of people from around the world.
Calculations on the chain show that the number of Gala token holders has increased in recent days. It now has over 212,000 holders while the number of transfers has jumped to more than 1.99 million. As shown below, the number of unique holders, transfer amounts and unique senders have been resilient.
Gala Prize Prediction
The daily chart shows that the GALA price has been in a strong downward trend in recent days. During this period, it has fallen by more than 30% as sentiment in the industry worsens. The 25-day and 50-day moving averages have formed a bearish crossover pattern while the price remains below the key resistance point at $0.048, the October 30 high.
Therefore, Gala is likely to continue falling as sellers target the key support level at $0.03, which is about 23% below today’s level.
