Gala Games (GALA) rallies 265% shortly after Binance itemizing announcement
Nonfungible tokens (NFT) and play-to-earn gaming are two of the most well liked developments within the crypto sector as a result of every presents new avenues for attracting customers and the distinctive character of every area of interest permits individuals to generate wealth relatively than having to spend cash to grow to be part of the neighborhood.
Gala Games, a blockchain-gaming-focused challenge that permits customers to make use of their distinctive NFT characters in gameplay, noticed its GALA token etch out important positive factors after Binance introduced plans to record the GALA token.
Data from Cointelegraph Markets Pro and TradingView reveals that after hitting a low of $0.021 on Sept. 12, the worth of GALA catapulted 270% to an intraday excessive at $0.077 on Sept. 13 as its 24-hour buying and selling quantity skyrocketed.
The sudden burst in buying and selling quantity and the worth breakout shortly after GALA listed on Binance, a improvement that has traditionally led to speedy value actions.
— Binance (@binance) September 13, 2021
Related: NFT area is an thrilling problem to stay aggressive, says Sean Kelly
GALA’s fundamentals are in its rising NFT ecosystem
The Binance itemizing helped kickstart the current momentum for GALA, however the challenge has been steadily constructing its platform and gaining momentum for a number of months now because the NFT sector was booming.
On August 11, Gala Games efficiently accomplished the primary sale of VOX, the challenge’s principal NFT providing which bought out in lower than 8 minutes regardless of experiencing points with community congestion and excessive fuel costs.
In addition to the VOX sale, Gala Games has launched new updates for its well-liked Town Star recreation and the challenge has teased particulars about new video games like Spidertanks.
With these newest strikes, GALA could possibly be trying to observe the trail laid out by different profitable play-to-earn video games lik Axie Infinity, which has seen its highest priced Axies promote for 300 Ether, and Illuvium, which noticed the worth of its native ILV token surge from $33.30 to a excessive of $613 in lower than three months with solely a minimal viable product.
The views and opinions expressed listed below are solely these of the writer and don’t essentially replicate the views of Cointelegraph.com. Every funding and buying and selling transfer includes danger, it’s best to conduct your individual analysis when making a call.