- Gala crypto price rose slightly on Monday.
- The number of unique holders jumped slightly to 212,808.
Gala price bounced back on Monday even as other cryptocurrencies retreated. The Gala crypto token rose to a high of $0.038, which was a few points above this week’s low of $0.033. It has plunged by more than 38% from the highest point in February.
Gala Games ecosystem growth
Gala Games is one of the biggest players in the blockchain gaming industry. It is a platform where anyone with a computer can play games and earn rewards. Most games in the ecosystem are in development, although developers have launched several games in the ecosystem. Some of the games in its platform are Mirandus, Spider Tanks, and Town Crash among others.
Analysts expect that the gaming industry will continue doing well in the coming months. Most of this growth will come from Asian countries like South Korea and Japan. Some Chinese companies are also building blockchain games.
If the industry succeeds, Gala Games has all the ingredients it needs to become a leading player in the sector. For example, it has the expertise, considering that its founder was the creator of Zynga, a company that was acquired in a $11 billion deal in 2022.
Further, it has an active developer base, which is continually building games for the ecosystem. There are now tens of games in development. Most importantly, the developers are creating their own chain that will boost its speeds and lower transaction costs.
Gala Games developers are also making it possible for most of their games to be available in mobile platforms like Android and iOS. These actions will make the ecosystem more robust and available to billions of people from around the world.
On-chain metrics show that the number of Gala token holders has risen in the past few days. It now has over 212k holders while the number of transfers has jumped to more than 1.99 million. As shown below, the number of unique holders, transfer amount, and unique senders has been resilient.
Gala price prediction
The daily chart shows that the GALA price has been in a strong downward trend in the past few days. In this period, it has fallen by more than 30% as sentiment in the industry worsens. The 25-day and 50-day moving averages have made a bearish crossover pattern while the price remains below the key resistance point at $0.048, the highest point on October 30th.
Therefore, Gala will likely continue falling as sellers target the key support level at $0.03, which is about 23% below the current level.
