Gala is an Ethereum-based cryptocurrency that is used to power gala games. Using the Gala token, a user can spend countless hours playing games powered by Gala tokens. Here are some of the facts about the Gala token:
- Gala Games was launched in the year 2018 by Eric Schiermeyer, Wright Thurston (crypto miner) and Michael McCarthy.
- GALA is an ERC-20 utility token developed on the Ethereum network. It is the main digital asset within the Gala Games ecosystem for item purchases, peer-to-peer payments, rewarding nodes and more.
- The Gala token powers the Gala games ecosystem. Users can play a variety of games on the platform. The games are 100% free and can be accessed via blockchain through a decentralized application (DApp).
- The Gala token was founded by Eric Schiermeyer (Zynga’s co-founder and gaming legend), Wright Thurston (one of the first major miners in the cryptocurrency space and holder of numerous patents on blockchain technology), and Michael McCarthy (the creative director behind viral gaming hits like Farmville 2).
- The token was launched with the aim of targeting niche gaming sectors and giving users the opportunity to play for countless hours using the Gala token.
- The gala token was built on the Ethereum network which helps users transfer Gala tokens once they have full control over the network.
- The GALA cryptocurrency can also be used as a reward for the owners.
- GALA tokens can also be used to purchase in-game items. It can also be used for updates and other game resources and is also used as a governance token.
Gala Price Prediction: Recent Performance
- Last 5 days: -3.3%
- Last 1 month: -9.4%
- YTD: -91.9%
Gala Games Token had a difficult year until recently. With liquidity being squeezed, the price has fallen significantly lower. As a result, the earning potential on the platform has decreased. This in turn reduced the number of active players on the platform which reduced demand for the token.
With new games being tested and launched, interest in the Token has increased again pushing the price higher. Here’s how trading volumes have changed over the past 7 days
- November 8: $157 million
- November 7: $155 million
- November 6: $218 million
- November 5: $442 million
- November 4: $650 million
- November 3: $478 million
- November 2: $182 million
Here’s how trading volumes changed over the year
- Q1 Average: $850m
- Q2 Media: $331 million
- Q3 Average: $216m
- October (Q4): $112 million
These declines coincide with the Fed’s rate hikes.
Is Gala Crypto a good investment?
Gala games is a play-to-earn NFT gaming platform. Gala coins can be earned and spent on the blockchain games platform. One of the most popular games on Gala Games is Town Star, a browser-based simulation game.
Gala also launched a native blockchain for the power ecosystem. It also highlights its decentralized governance attribution, and most decentralized ledger technology also has governance tokens to give powers that can be used by users. The Gala network, like any blockchain, needs validators. Gala sells licenses to Gala Nodes which are also called Founders Nodes. Gala Games has about 1.3 million active players every month.
Like all other cryptocurrencies recently, Gala has failed to provide a good return to investors. Most of the investors who have invested in Gala Token are at a loss. According to data from IntoTheBlock, only 11% of Gala token investors are making a profit at a current price while 82% of investors are at a loss. However, it is highly recommended to have a Gala token in your wallet as a long-term investment. The reasons are:
- The Gala coin was introduced to revolutionize the gaming industry. Players could use Gala Tokens and play different games for countless hours. With the gaming industry booming, it’s clear that the Gala token has a future. Therefore, to get a good return on Gala investment, you need to make sure that your investment is a long-term investment.
- Investing in cryptocurrencies is always a long game. Many investors enter the cryptocurrency market with the hope of making a quick profit and exiting the market. Due to this reason many times, the price of cryptocurrency collapses as there is a mass sell-off. However, to make a good profit you should have a plan to stick to the market for a longer period.
- Over 80% of Gala’s investors have held Gala tokens for less than a year. It was noted that even with a slight movement in the market, there was a mass sell-off. Mass sell-off occurs because of these sections of investors. Therefore, to make the Gala a good investment you need to hold Gala tokens for a longer period.
As of now, there are around 16000 different players who are actually powering the entire Gala Games environment. In order to make some improvements to the advancement of Gala Network, he managed to partner with Flare, Polygon, Brave, Mazer Gaming, and other companies. The Gala ecosystem is definitely increasing.
Will Gala reach $10? Let’s do some calculations
At $10, Gala’s market cap would be 250 times higher than Gala’s price in October 2022 or about $70 billion. Given how various cryptocurrencies – BTC, ETH, SOL, ADA, and numerous other cryptocurrencies have increased in recent years, it’s not unusual for any cryptocurrency to increase 250-fold quite rapidly.
However, it is unrealistic to expect what happened in 2021 with most Altcoins or even Ethereum (2017 to 2021) or Bitcoin (2010 to 2020) to happen again. Such pumps are unlikely to repeat again, as we are unlikely to repeat the Fed-led liquidity pump from 2008 to 2021. Therefore, it makes sense to estimate the future Gala Price with a more “conservative” 30%. Now, even 30% seems to be quite high when you compare it to the stock market. Therefore, a super conservative estimate should not only be based on 30%, but also on the assumption that 50% of the coins will be burned.
Therefore, if Gala were to increase at the rate of 30% per annum (assuming that 50% of tokens are burned during the period), it would take $gala 22 years or the year 2044 to reach $10.
Can the GALA reach $10? Data analysis
GALA managed to reach an ATH or all-time high price of $0.83 in 2021. It has since fallen, but is expected to reach $0.42 by the end of this year.
The current price of Gala ranges between 0.04 and 0.05 and has a market capitalization of around $300 million. If Gala were priced at $10, the market cap would be $7.1 billion. The Play to earn market is expected to increase 20-fold over the next 3 years. Even if estimates were supposed to be out of 2-3 years, Gala could be priced between $6 and $10 dollars by 2027. So the answer to the Can Gala Reach $10 question is Given the explosive growth of the game to earn games, Gala can easily reach $10 in the next 4-5 years.
Another interesting way to look at a Play to earn games is to look at each gaming platform as a small country and purchases and sales within the game are seen as game trade. When reformulated in this way, in-game tokens like Gala have a much brighter future than most Memes and Alt Coins.
Can Gala Coin reach $100?
If Gala $10 is a difficult endeavor, it would take even more effort to reach $100. In this case, let’s make a more conservative assumption of 25% per year (assuming that 50% burn at the end of this period). The market cap would be $700 billion and it would take 35 years or 2057 to reach this level.
Can Gala coin reach $1?
Given the above scenarios, $1 is likely to be a walk in the park. In this case, let’s assume a growth estimate of about 35%. It would take 11 years for Gala Coin to reach $1
Can Gala reach $10? Play to earn market overview
The Play to earn market is expected to grow to $219 billion by 2024. It’s probably less than $10 billion in 2021.
Search queries for the Play-to-earn market have exploded 6 times in the last 12 months. Interestingly, traditional games are still 60 times higher than the gaming market to make money. The gaming market was worth $180 billion in 2021.
The future looks pretty bright for Blockchain games and players like Gala Games.
Gala Price Forecast 2023, 2025, 2030 and 2040
Given the current slowdown in cryptocurrencies over the past 12 months, the forecast is rather pessimistic. The game is here to stay and Gala will be a prominent player if not number 1. So the odds of $10 are much higher than they currently seem.
GALA is a token native to the Gala Games gaming platform. It can be used to purchase games and make in-game purchases. The gala game is part of the GameFi industry and runs on the Play2Earn model. Gala runs on Ethereum and Binance Blockchains. Here are some price updates. Read on for detailed analysis and forecast scenarios.
Some analysts predict that Gala could rise to $0.07 in the current PUMP. Gala approached that level before retiring a bit. Gala announced a new partnership with Stick Figure to produce a new film ‘ Four Down ‘
- Gala 2023 price prediction is $0.08
- Gala 2025 price prediction is $0.116
- Gala price forecast for 2030 is US$0.24
When will the Gala rise?
Gala turned out to be one of the biggest disappointments of this year. Gala has lost almost 89% of its value this year and is one of the worst performing cryptocurrencies. Its main rival Mana fell by about 78%.
The year was in favor of metaverse tokens. Almost all metaverse tokens have lost more than 60-70% of their values. But Gala has lost about 90% of its value this year.
The collapse in the price of the Gala began in April 2022, when the US Fed announced the reduction in the size of the Federal Reserve’s balance sheet. In January 2022, news of the Fed’s planned approach to reducing the size of the Federal Reserve’s balance sheet began to fluctuate. The overall cryptocurrency market has been trading negatively ever since, but in April this was made official.
The cryptocurrency market collapsed completely and the price of the Gala fell below $0.10. With the collapse of prices, the level of interest or the number of gala game users also decreased. Townstar, the most popular Gala game, has seen a huge drop in users and the level of interest in Townstar has stalled.
However, there are chances that the Gala price will rise once again, but for Gala to rise again, however, for this to happen, the US Fed will have to make the decision to increase the overall crypto and stock market. In addition, gala games must make up for players who had lost since April.
Gala Coin Price Prediction: Where to Buy Gala?
GALA is gradually becoming one of the most popular cryptocurrencies. There has been a rapid increase in demand for GALA. Here are the steps to buy GALA:
- Find a cryptocurrency exchange that sells GALA
- Create an account with Exchange
- Verify your identity
- Finance your portfolio
- Make your purchase
Some of the important exchanges that GALA offer are: