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In the midst of a strong upward movement in the GameFi sector, Gala Games‘ native asset GALA has made an impressive 100% rise in the last two days. As of the latest data, GALA is trading at $0.07062 with a market value exceeding $2.072 billion. In less than a week, GALA has added over $1 billion to its market value, reflecting the increasing excitement surrounding the altcoin.
A Long Road Ahead for All-Time High
Investors and analysts are closely monitoring GALA’s price surge trajectory, speculating whether the momentum will continue in the foreseeable future. Indicators such as the Relative Strength Index (RSI) point to overbought conditions, yet the altcoin’s recent price action and technical indicators signal strong upward momentum, indicating potential for sustainable growth.
A notable aspect of GALA’s current situation is the staggering 90% difference from its all-time high (ATH) recorded in November 2021, which was $0.8248. This significant gap implies that there is a considerable distance to cover for further upward movement in both the short and long term, potentially setting the altcoin up for higher gains.
Furthermore, GALA recently experienced a golden cross, with its 30-day moving average surpassing the 200-day average, indicating a reversal of the downtrend. According to market analysts, this bullish signal that emerged just a few weeks ago could sustain the uptrend in the coming weeks and beyond.
Gala Games’ Initiatives Power Its Altcoin
Gala Games, the organization behind GALA, has made significant progress recently, particularly with the launch of GalaSwap DEX at the end of last month, which has encouraged growth for the altcoin. These developments and various enhancements introduced last week have greatly contributed to the altcoin’s increasing adoption and interest in the crypto world.
The introduction of GalaSwap DEX has led to a significant increase in the use of GALA, strengthening its position as a decentralized gaming and media hub. The platform saw a significant increase in activity following the launch of GalaSwap DEX, further solidifying its position in the GameFi ecosystem.
The broader GameFi sector has also shown notable growth, outperforming the wider crypto market in terms of percentage gains. GALA, along with altcoins associated with Web3 games like The Sandbox‘s SAND and Axie Infinity‘s AXS, saw significant value increases last month. This collective growth underscores the increasing importance and potential of the GameFi sector in the crypto world.
