As the Metaverse goes mainstream and several altcoins explode in value and recognition, crypto whales are turning to a lesser-known gaming project.
According to crypto whale watching platform WhaleStats, Gala Games (GALA)accounts for around 1 percent of total assets – $519.5 million – among the top 1,000 Ethereum (ETH) whale wallets.
Compared to Gala, popular games Axie Infinity (AXS), Decentraland (MANA) and The Sandbox (SAND) These make up much smaller divisions of assets.
MANA accounts for 0.29% of whale bags with a value of $171.9 million, while SAND is at the level of 0.24% with a value of $141.4 million.
WhaleStats doesn’t have up-to-date data on AXS, but a recent tweet says it’s the third most popular search term on the site. The lowest-valued token in the chart below, with a value of $40 million, makes up 0.07 percent of whale bags.
GALA is an Ethereum-based win-to-play altcoin that has seen a significant surge in value of up to 250 percent after being listed on major crypto exchanges such as Coinbase and Binance in November.
The blockchain-based gaming protocol allows users to participate in the development of a game by owning in-game items in the form of non-fungible tokens (NFTs).
According to WhaleStats, GALA is one of the top ten holdings among wallets tracked by the platform. The average amount of tokens held exceeds one million, with a combined value of $519,591.
At the time of writing, the GALA coin is down nearly a percent to $0.46 and is trading down over 40 percent from its all-time high of 0.82. After hitting a monthly high of $0.74 on November 24, it has had a rough past few weeks like the rest of the crypto market.
Axie Infinity is down slightly at $95, Decentraland is down nearly 8 percent at $3.10 and The Sandbox is down 7.6 percent at $4.95.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.