Gala Video games token continued its restoration this week as demand for gaming cryptocurrencies rebounded.
Gala (GALA) jumped to a excessive of $0.0217, its highest level since Aug. 27, and 61% above its lowest stage this 12 months. This rebound has introduced its market valuation to over $859 million.
Gala’s restoration occurred as different gaming tokens like Immutable X (IMX), Beam (BEAM), and Ronin (RON) rallied. All these cash have risen by over 20% within the final seven days. Consequently, the full market capitalization of all gaming tokens tracked by CoinGecko has jumped to over $17.16 billion.
Gala’s rally can also be linked to a latest put up on X, during which the builders teased a significant announcement anticipated this week.
It’s nonetheless too early to foretell the character of the announcement, however based mostly on previous statements, there are indications that it might contain the launch of TREZ, an upcoming token for Gala’s tap-to-earn ecosystem.
In a press release earlier this 12 months, the builders famous that its tap-to-earn ecosystem had gathered over 3 million customers throughout video games like GALACoin, Music Coin, and Treasure Tapper.
Telegram tap-to-earn video games have turn into extremely fashionable amongst customers, and Gala hopes to turn into a major participant on this house. Many of the current video games like Hamster Kombat, Notcoin, Catizen, and Avecoin have chosen to function on the TON Blockchain, which was developed by Telegram.
Faucet-to-earn networks permit customers to build up tokens by tapping a button on a mini app or finishing easy duties, similar to following an X account or watching YouTube movies.
Customers accumulate tokens and may money out when an airdrop happens. Networks like Catizen and Notcoin have already launched their airdrops, with their tokens valued at over $300 million and $786 million, respectively.
Gala token hits a key resistance
The Gala token bottomed out at $0.0134 in August and has since bounced again by over 60% to $0.021. It not too long ago crossed the 50-day transferring common and retested the important thing resistance level at $0.021, its highest swing since Aug. 25, and the neckline of the double-bottom sample.
The Relative Power Index and the transferring common convergence/divergence indicators have continued rising, which means that it has momentum.
Subsequently, Gala will probably proceed rising as bulls goal the subsequent key resistance level at $0.027, its highest level on July 21.
