As a seasoned crypto investor with a knack for spotting promising projects and a portfolio that has weathered numerous market cycles, I must admit that the recent surge of Gala Games token (GALA) has piqued my interest. Having closely followed its journey since its inception, I’ve witnessed the ups and downs, the hype, and the disappointments. However, this latest rally, fueled by a teased major announcement and the resurgence of gaming cryptocurrencies, has me intrigued.
Gala Games token continued its recovery this week as demand for gaming cryptocurrencies rebounded.
On August 27th’s peak, GALA coin reached a record high of $0.0217, marking a significant increase of 61% from its bottom point in 2021. Consequently, this surge has raised the market value of GALA to over $859 million.
Gala’s recuperation coincided with a surge in other gaming tokens such as Immutable X (IMX), Beam (BEAM), and Ronin (RON). In the past week, these cryptocurrencies have experienced an increase of more than 20%. Consequently, the cumulative market capitalization of all gaming tokens monitored by CoinGecko has soared above $17.16 billion.
Gala’s rally is likewise connected to a fresh update on X, where the creators hinted at an important announcement set for release this week.
🎮 Get ready for a major update coming very soon! 🎮
If you haven’t already, hop over to Benefactor’s Channel right away as you wouldn’t want to miss the excitement that’s about to unfold! 🔥
Join Benefactor’s Channel NOW! #GalaGamesX #MajorUpdate #AlphaNextLevel #DeFiGaming
— Gala Games (@GoGalaGames) September 21, 2024
The announcement’s specifics are yet to be revealed, but considering previous comments, it seems plausible that it might unveil the launch of TREZ, a prospective token designed for Gala’s tap-to-earn platform.
Earlier this year, it was mentioned by the developers that their tapping-for-rewards system boasted a user base of more than 3 million spread across titles such as GALACoin, Music Coin, and Treasure Tapper.
Telegram’s tap-to-earn games are currently trending among users, with Gala aiming to make a strong impact in this market sector. Many of the existing titles such as Hamster Kombat, Notcoin, Catizen, and Avecoin have decided to function on the TON Blockchain, a platform designed by Telegram.
Interaction-based reward systems enable users to collect virtual tokens simply by clicking a button within a compact application, or by accomplishing straightforward tasks like subscribing to a specific account or viewing YouTube content.
Participants earn tokens which they can redeem during an airdrop event. Platforms such as CitizenCoin (Catizen) and Not-Coin (Notcoin) have initiated their airdrops, with the value of their respective tokens exceeding $300 million and $786 million.
Gala token hits a key resistance
Initially, Gala’s token price dropped to $0.0134 in August, but it has since regained more than 60% and now stands at $0.021. It has surpassed its 50-day moving average and tested the significant resistance level of $0.021, marking its highest price swing since Aug. 25 and also coinciding with the neckline of a double-bottom pattern.
The Relative Strength Index (RSI) and the Moving Average Convergence/Divergence (MACD) indices are persistently increasing, suggesting that there is an ongoing trend or momentum in the market.
Consequently, it’s expected that Gala will probably carry on ascending, with investors aiming for the next significant resistance level at $0.027, which was its peak on July 21.
Read More
Sorry. No data so far.
2024-09-24 16:04