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GALA price movement: how far can the token climb after the recent 184% spike in value

By:
on Jan 10, 2023
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  • In the last seven days, GALA saw an increase in its value by 184%.
  • Throughout the last 24 hours, the token also saw an increase in trading volume by 40%.
  • Gala Games recently announced on Twitter that the GALA token would power Town Star.

GALA (GALA/USD) announced that Town Star, one of their flagship games on the platform, will now be powered by the GALA token directly instead of its own, TOWN token.

Gala Games is essentially a blockchain-based platform that has the objective of creating an ecosystem for crypto games powered by the GALA token.

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GALA announcement as a catalyst for growth

On January 9, 2023, Gala Games, the official Twitter page for the GALA ecosystem, made an announcement surrounding Town Star.

Town Star is one of the largest Play-to-Earn (P2E) games built on top of the Gala Games platform.

However, the game was originally powered by its own native cryptocurrency, known as the TOWN (TOWN/USD) token.

Based on the latest announcement, GALA will now be the token that powers the game, where all swaps from TOWN to GALA will occur at a 2:1 ratio.

This means that everyone playing the game will need to swap the token in order for it to retain value and be usable in-game.

The update also adds an additional level of utility for the GALA cryptocurrency, which can drive demand for it further and lead to an even higher increase in value.

Should you buy GALA (GALA)?

On January 10, 2023, GALA (GALA) had a value of $0.04309.

GALA/USD Chart by Tradingview

The all-time high of the GALA (GALA) cryptocurrency was on November 26, 2021, at a value of $0.824837. At its ATH, the token was $0.781747 higher in value, or 1,814% higher.

When we go over the value of the GALA (GALA) cryptocurrency throughout the past 7 days, its low point was at $0.01728881. 

Its high point, however, was at a value of $0.04912871. Here we can see an increase in value of $0.0318399 or by 184%.

In the last 24 hours, GALA (GALA) had its lowest point of value at $0.03685902. Its highest point was at $0.04912871. 

Here we can see that in the last 24 hours, the value difference is at 33%.With this in mind, investors will find value in buying GALA, as it can climb to $0.05 by the end of January 2023.