Cryptocurrency News, Cryptocurrency Price Analysis

GALA Crashed by Over 40% After It Lost Its Crucial Support

GALA is an Ethereum-based utility token that one may use as a payment method in the Gala Games community, a P2E platform. As a result, you can use GALA to purchase NFTs in the Gala Shop, govern the network, and win prizes.

Gala Games (GALA), among the most popular blockchain and metaverse game assets, is presently in free collapse. The coin has dropped in tandem with the broader cryptocurrency market, but its setbacks have been far worse than anticipated. Is there any possibility of recovery? GALA has dropped roughly 40% since it lost its $0.07 support. The token is in free fall and may approach a bear market shortly. GALA’s monthly highs at the beginning of May have dropped roughly 65%.

Will GALA be able to Recover From This Carnage?

GALA will, without a doubt, recover. However, we don’t believe it will occur anytime soon. The market sentiment is becoming quite volatile. Several investors seem to be selling their cryptocurrency holdings, with most tokens seeing significant losses. Because this isn’t a buyers’ market, it was predicted that GALA would fall further before turning around.

It’ll be fascinating to watch how the price movement unfolds as it falls under $0.05. GALA bulls have long considered this a psychologically significant level. The metaverse currency is now trading slightly over this price. Given current market patterns, it wouldn’t surprise me if it fell even further. Until GALA reaches a low of roughly $0.02, the freefall is expected to continue.

How Gala Works

Gala is unique among gaming communities in that it allows users input over game production by letting them propose game concepts for public voting. It gives gamers complete control over their in-game objects, like NFTs. Only Town Star and Vox have been made by Gala Games so yet.

Each participant in Town Star maintains and controls a town, and over 700K towns have been formed so far, with around 600M players as of April this year. Vox is a collection of one-of-a-kind NFT avatars that you can use for various things, including collecting Voxcoins.

How Can You Make Money With GALA?

GALA isn’t at its best right now. It’d be preferable to wait a week or so when you plan on doing it. We believe the price will fall well below $0.05. The token’s price will be roughly 100% below its May spikes when that occurs. That’ll be the best period to buy, particularly if the overall market sentiment recovers.

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