Gala Games GALA/USD is a platform that builds blockchain-powered games.
Each of these games is intended to provide players with ownership of their in-game items through non-fungible tokens (NFTs).
Metaverse hype as a catalyst for growth
On September 13, Gala Games (GALA) got listed on Binance. Since that point in time, the token has experienced solid growth.
There have been numerous gaming and metaverse-based cryptocurrency token which have seen increases in value, such as Decentraland (MANA) and The Sandbox (SAND), all of which have increased their value throughout November.
On October 29, we covered how metaverse tokens surged following Facebook’s rebranding to Meta, and this has not seemed to stop.
Since the company issuing GALA, Gala Games builds blackchin-based games; it is no wonder that it soared to record highs in October.
This boosted interest in blockchain gaming has the potential to increase the value of the GALA token even further.
Should you buy Gala Games (GALA)?
On November 23, Gala Games (GALA) had a value of $0.388.
To get a better perspective as to what kind of value point this is for the token, we will compare it to it’s all-time high value as well as its performance in October.
In terms of its all-time high value, GALA achieved a value point of $0.483 on November 21. Here, we can see that the token was $0.095 higher in value, or by 24% at its all-time high.
With that in mind, let’s go over October’s value so we can see how the token’s value moved throughout that span of time.
In terms of the highest recorded value of October, it was on October 3, when the token reached a value of $0.119.
When we look at the lowest point of value, it occurred on October 28, when the token had a value of $0.0749.
Here, we can see that the token dropped in value by $0.0441 or by 37%.
However, from October 28 to November 23, we can see that the token increased by $0.3131 or by 418%, which is a huge growth in value.
According to data from IntoTheBlock, GALA had $1.32 billion in transactions greater than $100,000 within the span of the last seven days.
That said, GALA has the potential to climb to $0.5 by the end of December and close off 2021 with a new all-time high value.
The post Should you buy GALA after the hype surrounding metaverse and blockchain gaming? appeared first on Invezz.
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