Gala Gaming Token Jumps After GalaSwap Exchange Launches With Trading Rewards
GALA, the token of the Gala gaming and leisure ecosystem, skyrocketed in worth Tuesday following the launch of GalaSwap, a decentralized alternate (DEX) working on the brand new layer-1 GalaChain community that gives rewards to merchants.
In accordance with information from CoinGecko, GALA jumped from a worth of about $0.033 earlier than the information was introduced Tuesday morning to a current excessive of $0.042 six hours later, marking a 27% rise in that span. As of this writing, the worth has settled to only above $0.039, nonetheless representing a 17% climb over the previous 24 hours.
Tuesday’s excessive worth represents a 10-month peak for GALA, which final popped above the $0.04 stage again in April 2023. GALA is now up nearly 70% over the previous 30 days, although it stays down considerably from its all-time peak of $0.82 set in 2021.
GALA is considered one of many gaming tokens which have seen substantial jumps in current weeks because the broader cryptocurrency market recovers. Bitcoin’s current beneficial properties, which culminated in topping a worth of $61,000 on Wednesday morning for the primary time since 2021, has helped propel different gaming tokens as nicely.
The IMX token of the Immutable gaming community, for instance, is up 76% over the previous month and has entered the highest 25 total cryptocurrencies by market cap in response to CoinGecko. The BEAM gaming token is up 95% over the previous 30 days, as nicely, whereas the Illuvium recreation’s ILV token has climbed 68% in the identical span.
Within the case of GALA, nevertheless, the most important soar got here instantly after information that GalaSwap had launched, providing what the corporate says are quick, low-cost trades on its GalaChain layer-1 community. Moreover, the DEX affords buying and selling rewards for customers, in addition to referral incentives for bringing in extra customers.
Gala is the writer behind such video games as Champions Area and Legacy, and likewise operates music and movie divisions.
Disclaimer
The views and opinions expressed by the creator are for informational functions solely and don’t represent monetary, funding, or different recommendation.
