Since the beginning of this year, many investors have breathed a sigh of relief as the situation in the crypto market has started to get better. The prices of countless tokens were seen in the green, and have started to trade higher. It is pretty much evident that the cloud of uncertainty over the crypto market has started to clear off. As the crypto market marks a positive momentum, GALA stands out after gaining a decent 140% within a week.
GALA can simply be described as a blockchain-powered gaming platform. It is created by the co-founder of Zynga, Eric Schiermeyer. GALA previously managed to hit a low of approximately $0.0177 back on Friday. Ever since then, the token witnessed a huge increase of approximately 186.75% on Monday. The increase eventually pushed the price of GALA to $0.051. The sudden increase in the value of the token can be linked to the platform signing an agreement regarding movie making. The deal is signed with Dwayne Johnson and Mark Wahlberg.
These movies will be produced under the platform’s movie wing, GoGalaFilms. Apart from that, GALA also witnessed an increase after it announced that it would serve its purpose as a gas token for GoGalaFilms and GoGalaMusic. Galafilms would use GALA as the gas token as it would be featured on the platform’s blockchain. As long as future plans are concerned, the platform has expressed intentions of expanding into the gaming division. With such a move being placed into effect, the GALA ecosystem would be introduced to millions of newer users.
GALA on the Rise
At the time of writing, the GALA token is trading for approximately $0.04086. The token has witnessed an increase of an impressive 127.30% over the last 7 days. When compared to the 24-hour time frame, GALA experienced a drop of almost 7.04%. Apart from that, the token currently has a total market cap of almost $283 million.
On the other hand, it is widely believed that the increase in the price of GALA can also be linked to the increasing popularity of blockchain gaming. Such popularity has been growing considerably despite the rest of the market remaining flat. However, it is expected that the future of blockchain gaming is expected to be bright. The market is maturing with time and is shifting to much more mature content.