GALA, the token of the Gala gaming and leisure ecosystem, skyrocketed in value Tuesday following the launch of GalaSwap, a decentralized trade (DEX) operating on the brand new layer-1 GalaChain community that gives rewards to merchants.
Based on information from CoinGecko, GALA jumped from a value of about $0.033 earlier than the information was introduced Tuesday morning to a latest excessive of $0.042 six hours later, marking a 27% rise in that span. As of this writing, the value has settled to only above $0.039, nonetheless representing a 17% climb over the previous 24 hours.
Tuesday’s excessive value represents a 10-month peak for GALA, which final popped above the $0.04 stage again in April 2023. GALA is now up virtually 70% over the previous 30 days, although it stays down considerably from its all-time peak of $0.82 set in 2021.
GALA is one in all many gaming tokens which have seen substantial jumps in latest weeks because the broader cryptocurrency market recovers. Bitcoin’s latest positive aspects, which culminated in topping a value 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 keeping with 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 leap 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 gives buying and selling rewards for customers, in addition to referral incentives for bringing in further customers.
Gala is the writer behind such video games as Champions Enviornment and Legacy, and likewise operates music and movie divisions.
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