Top Whales Still Buy This Gaming Token

Crypto whales are hoarding GALA, a gaming token, and other cryptocurrencies for a rally.
GALA is one of the top five cryptocurrencies large wallet holders want to buy and hold.

Crypto whales are stockpiling GALA, a gaming token, along with other cryptocurrencies, in anticipation of a potential rally in the near future.

The most well-known cryptocurrencies’ prices, including those of Bitcoin (BTC) and Ethereum (ETH), both dropped by more than 4% on Friday, significantly impacting the global market for digital assets. However, on-chain data shows that even throughout the market crash, top whales continued to heavily accumulate the GALA gaming currency.

GALA Documents Significant Whale Activity

GALA is one of the top five cryptocurrencies that large wallet holders are more interested in acquiring and amassing for the long term, according to WhaleStats. There has been a substantial accumulation of whales over the last twenty-four hours, which typically means that there is a chance that the price of the cryptocurrency will rise as a result of bullish technical indications emerging or as a result of a major event.

After a sharp 8.5% intraday drop that brought the price of Gala to $0.04, it has maintained a high level for the past thirty days at 66%. The rise in price is probably influenced by the recent rise in popularity of crypto gaming, including Axie Infinity and other games. Not only GALA, but also several other game-based cryptocurrencies, like Apecoin, ImmutableX, and Sandbox, have all experienced rapid growth over the course of the previous week and the previous few months.

Growth Of Crypto Gaming

With the help of Web3 and its cutting-edge blockchain applications, investors, game developers, and players now have more possibilities. Game developers can create distinctive digital commodities, also referred to as NFTs, that players can buy, sell, and own using Web3 gaming tokens. Developers are leveraging these tokens to create up a new channel for community participation and revenue inside the gaming industry because users may now own actual assets that have worth outside of the game itself.

The decentralised atmosphere of Gala Games, which was first introduced in 2020, helps players by granting them the control they correctly believe they should have. In addition to granting players ownership of the in-game items they have won, decentralisation allows players the chance to participate in the creation of the Gala Games road plan. Gala (GALA) is now trading at $0.044, as of the writing of this article. And based on CoinGabbar’s cryptocurrency market tracker.

Bookmark (0)