The cryptocurrency market has recorded an impressive performer in the last few days and one of the best performers has been Gala (GALA). In the case of the digital asset, there has been a 2. An increase in value by 64 % over the last 24 hours, and is currently at a price of $ 0. 0175. This upward movement has been accompanied with a corresponding spike in trading volumes that has increased by a whooping 47. 84% to $ 65,965,247 in the past day.
Such a significant upsurge in trading activity may be attributed to heightened interest and confidence towards a projects viability. Gala’s market capitalization is $606,944,918 making it the 94th largest cryptocurrency by this measure. This achievement is quite significant especially given the fact that the crypto space is very saturated with thousands of projects vying for attention and capital.
The company has only recently started making profits, thanks to its strategic location in the blockchain gaming industry. Being a gaming platform that intends to disrupt the current gaming market by allowing players to own their assets through blockchain technology, Gala has gained the attention of both gamers and cryptos.
The concept of delivering interesting, high-quality games and at the same time utilizing the advantages of decentralization has defined the project as unique in the emerging GameFi space. The token’s supply metrics help to deepen its understanding of the economic model and its prospects for growth. The circulating supply of GALA is 34,676,937,403 GALA while the total supply is 36,701,097,539 GALA to ensure that adequate supply is available in the current market while at the same time ensuring that there is a planned distribution of the token in the future.
However, what has been observed is that Gala has not set a limit to the maximum supply, thus, providing for adjustments in the number of tokens as the ecosystem grows. This supply structure when combined with the current price gives Gala a fully diluted market cap of $640,379,944, this is indeed the optimist’s view of the market in as much as Gala is concerned.
As the blockchain gaming industry progresses, it can be expected that projects such as Gala will be of greater significance because of the solutions and materials that they propose. The recent trading of GALA shows that the market is waking up to the potential of the project and placing it as one token to look out for in the following weeks and months.
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