Alt Coin

Ethereum Whales Are Accumulating New Gaming Altcoin in Huge Amounts – And It’s Not Axie Infinity, Decentraland or the Sandbox

While the metaverse going mainstream has seen a number of altcoins explode in worth and recognition, crypto whales are gobbling up a lesser-known gaming venture.

According to crypto tracker WhaleStats, Gala Games (GALA) accounts for practically 1% of complete holdings – a whopping $519.5 million – amongst the high 1,000 Ethereum (ETH) whale wallets.

By comparability, widespread video games Axie Infinity (AXS), Decentraland (MANA) and The Sandbox (SAND) represent a lot smaller parts.

MANA makes up 0.29% of the whales’ baggage for a worth of $171.9 million. SAND stands at 0.24% value $141.4 million.

WhaleStats doesn’t have present knowledge on AXS, though a brand new tweet says that it’s the third-most-popular search time period on the website. The lowest-valued token talked about by identify in the following graphic accounts for 0.07%, value $40 million.

Source: WhaleStats

GALA is an Ethereum-based play-to-earn altcoin that surged in worth after being listed on Coinbase again in November.

The blockchain-based gaming protocol lets customers participate in a recreation’s improvement by letting them personal their in-game objects in the type of non-fungible tokens (NFTs).

WhaleStats reports that GALA ranks in the top-10 complete holdings amongst wallets it’s monitoring. The common variety of tokens held exceeds 1 million and is valued at $519,591.

At time of writing, the GALA token is down practically 7% to a price of $0.47. Like most of the crypto markets, it has seen a rocky previous couple of weeks after reaching a month-to-month excessive of $0.74 on November twenty fourth.

Axie Infinity can also be down barely to $98.11, Decentraland has dropped 6% to $3.17, and The Sandbox has fallen by 6.26% to $5.01.

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Featured Image: Shutterstock/Sergey Nivens/Chuenmanuse

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