A metaverse token constructed on Ethereum is defying the crypto market’s current pullback because of whale exercise.
In keeping with crypto whale surveillance web site WhaleStats, Gala Video games (GALA) is now the third-most bought cryptocurrency by whales, behind solely Ethereum (ETH) and Tether (USDT) over the past 24 hours.
GALA, a blockchain-based gaming protocol that lets customers participate in a recreation’s improvement by letting them personal their in-game gadgets as non-fungible tokens (NFTs), noticed its worth surge from a 24-hour low of $0.452 to $0.548, a 21% improve. GALA has since stabilized and is presently exchanging fingers $0.509.
In keeping with the information, the typical whale bought 102,199 GALA for $53,556, making it a extra fashionable funding than different fashionable metaverse tokens comparable to Decentraland (MANA) and The Sandbox (SAND) amongst buyers with deep pockets.
WhaleStats additionally finds that the typical whale holds slightly below 1,000,000 GALA tokens, value about $480,000 at time of writing, making it the sixth-most held crypto by whales.
Regardless of the current worth rally, GALA remains to be down from its all-time excessive set in November which noticed the token skyrocket from a low of $0.082 to a peak of $0.743, a staggering 800% improve.
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Featured Picture: Shutterstock/Swill Klitch/Natalia Siiatovskaia
