- The Gala network has made strategic acquisitions including Ember Entertainment, which will have its Dragon Strike and Meow Match integrated with its blockchain.
- The GALA ecosystem has grown to over 1.3 million monthly active users who have traded over 26k NFTs.
The GALA coin has jumped over 138 percent in the past few days to trade around $0.04246041 on Tuesday. The blockchain games development ecosystem takes pride in a vibrant online community and highly incentivized developers. As such, the GALA network has seen its daily traded volume spike significantly in the past few days.
According to our latest crypto price oracles, the GALA network recorded an average traded volume of approximately $1.58 billion in the past 24 hours and a market cap of about $319 million.
Notably, the spike is partially attributed to a report that GALA games have inked an official partnership with popular actors Dwayne Johnson alias The Rock and Mark Wahlberg. However, the GALA network has since deleted the tweet announcement on Twitter, which has contributed to a slowdown in the previous pump.
“Just a little bit of information regarding our ongoing work with @TheRock and @markwahlberg.$GALA is the gas token in @GoGalaFilms and @GoGalaMusic as well!,” the tweet noted.
The Gala games have made strategic acquisitions including Ember Entertainment, which will have its Dragon Strike and Meow Match integrated with its blockchain. As such, the game developers have widened the real-world utility of GALA coins, which will be used for paying transaction fees in newly acquired games.
More details about our acquisition of Ember Entertainment! These games, starting with Dragon Strike and Meow Match will be integrated with our L1 Blockchain and use $GALA as gas.
P2E is coming to mobile! pic.twitter.com/RfBJh6uqQe
— Gala Games (@GoGalaGames) January 10, 2023
With more gaming platforms using GALA coins for transaction fees, the ecosystem is bound to exponential growth despite the year-long bear market.
“Benefactor announces that $GALA will be the token that powers @TownStarGame and will swap all $TOWN for $GALA at a 2:1 ratio,”
the company announced.
GALA Market Outlook Amid Mild Altcoin Rally
The crypto market has received a mild rally in the past few days despite negative sentiment fueled by the FTX and Alameda fallout. Crypto companies are having a challenging time convincing traders about general crypto security. Furthermore, rug pulls and hacks have been rampant in the crypto market, especially during the 2022 bear market.
The GALA community has not been exempted from such rumors. Last year, the GALA coin crashed by over 25 percent in a few hours following rumors of a rug pull orchestrated on the pNetwork bridge. While the news later came out as fud, the GALA coin had lost over 90 percent of its value on some crypto exchanges.
Yes, we noticed pGALA wasn’t to be considered safe anymore and coordinated the white hat attack to prevent pGALA from being maliciously exploited. Funds are safe but users should NOT transfer or buy/sell pGALA on pancakeswap
— pNetwork 🦜 (@pNetworkDeFi) November 3, 2022
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Meanwhile, the GALA ecosystem has grown to over 1.3 million monthly active users who have traded over 26k NFTs. Notably, the most expensive NFT sold on the GALA network went for approximately $3 million.