Price Takes Off: Altcoin Jumps 35% After These Developments!

GALA, the altcoin behind Gala Games, a platform for blockchain games, has become one of the top earners among major cryptocurrencies as its price suddenly jumped 33%. At press time, some of the gains were erased and GALA is up 29% to trade at $0.024. After the boring performance in 2022, GALA seems to start the new year with impressive price movements.

After months of steady price declines, GALA hit a low of $0.0154 on Dec. 30, where the price started to recover. Since the start of 2023, GALA has been trading in the green for six of the seven days.

Interest in gaming and metaverse tokens seems to be resurgent. Related tokens like Decentraland (MANA) and Sandbox (SAND) are enjoying gains of up to 12% at the time of this writing. Other positive factors may also have contributed to GALA’s extraordinary price increase.

Why is altcoin on the rise?

The official Twitter account of the Gala Games platform brought up new discussions about the 2023 expansion plans. According to a screenshot of a published Discord conversation, 15 mobile games are being considered for participation. Gala Games also announced that it has acquired a mobile game studio with more than 20 million users.

The GALA community is also committed to burning 100% of GALA tokens used in purchases on the platform. pushing.

Besides that, Gala Games is also developing a Tier-1 blockchain that will use the GALA token as gas; 50% of the collected gas will be burned and the rest will be redistributed to the founders, node owners and ecosystem partners. G

ALA broke the $0.022 resistance at the daily MA 50, which has limited price action since early November 2022. A break above this barrier could trigger further upward movement. In this scenario, GALA could target the daily MA 200 at $0.04 followed by $0.048.

You can follow the current price action here.


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