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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

This Sub-$1 Billion Crypto Is Leading Market Gains, Here’s The Reason

Best Owie
Best Owie
1 year ago
3 mins read
GALA (crypto)

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The crypto market is in another full recovery mode and bitcoin has since crossed the elusive $17,000 price level. However, while the largest digital assets in the space are seeing a lot of green, one underdog is taking the space by storm. GALA is right at the top of the list of gainers for the past 24 hours, surpassing second-place Zilliqa (ZIL) by a considerable margin.

Why Is GALA Pumping So Much?

In the early hours of Monday, Gala Games took to Twitter to announce a new partnership. The blockchain gaming company which had been working on its film projects revealed that it had gotten movie stars Dwayne “The Rock” Johnson and Mark Wahlberg to star in its film. But this was not the only bullish development of the company.

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Another revelation from the Twitter post was that moviegoers would be able to scan a QR code on a purchased ticket to claim a digital item that is being sold on different marketplaces. Furthermore, Gala Games also put another use case where QR codes could pop up to claim an item while viewers were watching a movie on a streaming platform such as Netflix. “That item has been selling on OpenSea so why wouldn’t you at least take a look?” the announcement said.

The GALA token fits into all of this by being the gas token of Gala Film, which is the blockchain that powers the film arm. These items from the movies are not limited to Gala users, so individuals who want to claim items from the scanned QR codes will need to purchase GALA tokens to use as gas fees; therefore increasing the demand for the cryptocurrency.

https://twitter.com/GoGalaGames/status/1612299581731086337?s=20&t=YubFyMzZNy7yZBGS-EKLVA

Leading Crypto Market Gains

The price of GALA has responded positively to the news of Johnson and Wahlberg working with the ecosystem. It has seen the highest gains of any digital asset over the last 24 hours, rising over 67% in this time period, more than 100% of the gains posted by ZIL (29%) which is the second-highest in the space.

GALA top gainers

GALA tops list of gainers | Source: Coinmarketcap

It has wiped out losses from GALA over the last week and the coin is now seeing gains above 114% in the 7-day period. Interestingly, this is a digital asset with a less than $300 million market cap, but trading volume for the last day was almost $1 billion, an almost 400% increase from the previous day.

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GALA is currently changing hands at a price of $0.0366 at the time of this writing after being rejected at the $0.04 resistance point. This has now become the level to beat and if the bulls are able to pull above $0.04 while the trading volume remains elevated, then it will flip this to support and reach $0.045.

Gala price chart from TradingView.com

GALA jumps 60% to $0.038 | Source: GALAUSD on TradingView.com
Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet… Featured image from Pandaily, chart from TradingView.com
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Best Owie
Best Owie

Best Owie

Best Owie is a seasoned managing editor with a wealth of experience currently serving as the Managing Editor at NewsBTC. Best is a highly skilled professional with a track record of producing engaging and informative content. With a keen eye for detail and a passion for accuracy, Best is committed to ensuring that each article published meets the highest standards of quality.

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Best has over six years of experience in the crypto industry and has overseen the creation and publishing of thousands of articles over the years. Best is always abreast of everything that is going on in the crypto industry in order to create and curate the most relevant content for readers. This shines through in Best’s publications, which are always clear and concise, enabling easy reading and understanding for all.

Best is also an avid learner and advocate for new technology. This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best’s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community.

Best’s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information.

Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity.

When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world’s most quiet and well-behaved Husky. Best’s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well.

As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers.

Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best’s prolific career in the media industry is a testament of how hard work and dedication pays.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

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Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
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