Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
After a brief correction during the three preceding days, the price of token GALA began to grow again, and by the current moment, its price chart shows a 15% increase in price. Why again? Because GALA was up 208% since the beginning of January. The catalyst for the soaring price of the token was the announcement from Gala Games about co-producing films with Dwayne "The Rock" Johnson and Mark Wahlberg, famous Hollywood actors.
Nevertheless, the tweet about a collaboration with The Rock was then deleted, and the GALA quotes gave up 8% of their rise. Just a day later, they started rising again, gaining 30% and breaking through all possible price levels.
Tomiwabold OlajideGALA tokenomics tricks
While the status of Johnson's collaboration with Gala Games Studios remains a mystery, something else is pushing GALA's price upward nonetheless. Perhaps it is the latest Pay by Burn program, which automatically burns off 100% of tokens used for purchases.
However, on the other hand, any positive effect of burning is offset by the fact that every day, according to official tokenomics, 8.56 million GALA are unlocked.
Yuri MolchanWhatever the case may be, the fact remains that GALA is currently one of the most profitable tokens in the new year with an aggregate score of 223% in just the last two weeks. The token currently trades at $0.054 and has a market cap of just $375.84 million. But given GALA's daily unlockings, it is worth paying more attention to its fully diluted market cap of $1.9 billion.
Vladislav Sopov
Tomiwabold Olajide
Dan Burgin
Alex Dovbnya