The value of GALA, the cryptocurrency that powers Gala’s gaming ecosystem, has experienced a significant increase of 148% over the past week. It is currently the top performer among the top 100 digital currencies and, earlier today, showed considerable growth in the past 24 hours, with over 30%.
On January 9th, GALA shared information about their collaboration with Johnson and Wahlberg on Twitter, which led to a price increase (the tweet is presently inaccessible). The platform expressed confidence that the collaboration between these two immense entertainment forces would prove more influential outside the spotlight than inside.
According to the tweet:
Just a little bit of information regarding our ongoing work with @TheRock and @markwahlberg.$GALA is the gas token in @GoGalaFilms and @GoGalaMusic as well!
Additionally, an on-chain data analyst, Santiment, reported that GALA is making a remarkable run among the many altcoins experiencing a surge in 2023. Due to substantial purchases from Whales, the token has gained 194% since December 30th and surpassed $0.048 for the first time since mid-September.
GALA Price Review
Gala Games, established in 2018 by Eric Schiermeyer, Wright Thurston, and Michael McCarthy, aims to revolutionize online gaming by making it more decentralized. Eric, the co-founder of game developer Zynga, Wright, a crypto miner, and Michael, the creative director of viral games such as FarmVille, lead the team.
In September 2021, the GALA token began gaining popularity following its listing on Binance and Bibox. On September 23rd, the token experienced a massive price increase, reaching $0.113, representing a more than 500x increase from its all-time low of $0.00022 on December 28th, 2020.
From November 26th to its all-time high, the token’s price sustained a solid increase, reaching $0.83. By December 3rd, however, its worth had plunged by 29%, down to $0.51.
The token experienced a decline in value over the next month until it reached $0.18 on January 22nd, 2022. However, the announcement of Skaggs’s hiring and increasing anticipation for the launch of Spider Tanks led to a resurgence in the token’s value, reaching a peak of $0.0441 on October 31st.
Unfortunately, the value subsequently dropped to $0.02837 on November 3rd. Afterward, the token was affected by the downfall of the FTX exchange, resulting in a low of $0.01555 before ending the year at $0.01666.
Despite its recent weekly gains, the token has lost 94.8% of its value since reaching an all-time high of $0.8248 in November 2021. The coin is presently up nearly 10% on a daily basis and is trading at $0.04102, according to Coinmarketcap.
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