Gala Games is among the gaming tokens making a breakout in the crypto market. On March 11, 2024, the trading volume of this cryptocurrency surpassed 160%. Furthermore, the weekly and monthly gains of this token explain why investors are paying attention to it. Below, we will discuss how Gala Games functions, the differences between GALA and AVAX, and their recent market performance.
What is Gala Games?
Gala Games is all about using blockchain and Web3 to make gaming better. It’s made by game developers who want players to have more control and even earn rewards while playing.
GALA Games simplifies the transition to Web3 by enabling gamers to buy in-game items using wallets like MetaMask or credit cards. Players can also earn NFTs while gaming on Gala, which they can trade on Opensea.io. Read a more comprehensive description of the platform.
Difference Avalanche Has Over $GALA
Avalanche is a layer 1 blockchain competitor to Ethereum, boasting a wider scope than Gala Games with dedicated sections for decentralized applications (DApps), contract chains, and exchange chains. Notably, games like Wombat, DeFi Kingdoms, Crabada, and others thrive within this ecosystem, offering NFTs as primary rewards, as depicted by data from Alchemy.
$GALA Trading Volume Stuns AVAX with Over 160x Growth
According to CoinMarketCap, on 11th March, there was a 160x increase in GALA trading volume, reaching over $1.714 billion, with several factors contributing to this new development.
One is the launch of the new blockchain-based game Last Expedition, whose main narrative is an alien planet, Aura, where players gather valuable resources while facing deadly elements. According to the Twitter announcement, the rewards from this game can be swapped for different cryptocurrencies, including GALA.
Secondly, GALA Games, Alienware, and Amazon Web Services (AWS) collaborated, leading to a 24-hour hackathon with a prize pool of $1 million at the 2024 Game Developers Conference (GDC).
GALA Stuns AVAX Token After a 200% Increase
At press time, AVAX has increased over 15% in the past 24 hours, but $GALA had a dip of more than 1%. Nevertheless, GALA has an over 60% increase in the weekly chart, while AVAX has a modest increase of over 10%.
The monthly chart shows an increase of over 200% for the $ GALA token, with AVAX at over 20%. Furthermore, the trade volume of $GALA took a 50% dip from the original 160x increase while AVAX attracted a 210% increase in trading volume.
According to The Bulls and Bears indicator from IntotheBlock, AVAX and GALA are seeing encroachment from bearish trends. The data shows over 23.25m AVAX bearish transactions, compared to 22.42m AVAX bullish transactions.
Furthermore, GALA is also bearish, with over 154m bearish and 143.67m bullish transactions.
Wrapping Up
Gala Games is a platform whose utmost concern is making Web3 games more interesting by rewarding players with NFTs and cryptocurrencies. This is slightly different from Avalanche, which has dedicated sections such as exchange, smart contracts, and dApp chains. Recently, the trading volume of the native token $GALA skyrocketed, with an over 160x increase to $1.714 billion.
The reason was the launch of a new game, The Last Expedition, and the upcoming $1 million 24-hour hackathon. Moreover, the 160x increase in trading volume is reflected in the $GALA price, which increased over 210%, but the question remains: Can GALA maintain this momentum?
The information provided in this article is for informational purposes only and should not be considered financial advice. The article does not offer sufficient information to make investment decisions, nor does it constitute an offer, recommendation, or solicitation to buy or sell any financial instrument. The content is opinion of the author and does not reflect any view or suggestion or any kind of advise from cryptonewsbytes.com. The author declares he does not hold any of the above mentioned tokens or received any incentive from the company.
