Gala Games’ digital currency, GALA, has experienced a remarkable surge, doubling its value in just 48 hours. This surge has propelled the asset’s market capitalization to surpass $2 billion, marking a significant increase of over $1 billion in under a week. This uptick signals growing enthusiasm for the altcoin among investors and the broader GameFi community.
Analysts Eye GALA’s Market Trajectory
The community of investors and market experts are keenly observing GALA’s meteoric rise, questioning if this uptrend will hold steady into the future. Despite indicators suggesting the asset may be overbought, the overall market sentiment and technical analysis point towards a potential for continual growth and increased valuation.
GALA’s recent market performance is particularly noteworthy given its 90% fall from its peak value reached in November 2021. With such a significant difference from its all-time high, the possibility of further gains remains optimistic, both in the immediate and distant future.
Adding to its promising outlook, GALA has undergone a golden cross—a technical chart pattern where a shorter-term moving average crosses above a longer-term average, often predicting future bullish momentum. This key technical event might contribute to maintaining the upward trend.
Gala Games’ Strategic Moves Boost Token Demand
Behind the scenes, Gala Games has been actively engaging in initiatives to support its native token, including the recent launch of GalaSwap DEX. Such strategic developments have fostered the token’s adoption and sparked increased interest in the cryptocurrency sector.
The launching of GalaSwap DEX has notably amped up the usage of GALA, reinforcing its status as a decentralized hub for gaming and media. The platform’s activity surged post-launch, drawing more attention to its role in the GameFi ecosystem. Meanwhile, the GameFi sector at large continues to outperform the general cryptocurrency market in terms of growth percentage, with GALA and other related gaming altcoins experiencing significant appreciation in value, underlining the sector’s burgeoning significance.