A metaverse token constructed on Ethereum is defying the crypto market’s current pullback as a result of whale exercise.
According to crypto whale surveillance web site WhaleStats, Gala 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 sport’s growth by letting them personal their in-game objects as non-fungible tokens (NFTs), noticed its price surge from a 24-hour low of $0.452 to $0.548, a 21% enhance. GALA has since stabilized and is presently exchanging palms $0.509.
According to the info, the common whale bought 102,199 GALA for $53,556, making it a extra standard funding than different standard metaverse tokens corresponding to Decentraland (MANA) and The Sandbox (SAND) amongst buyers with deep pockets.
WhaleStats additionally finds that the common whale holds slightly below one million GALA tokens, price about $480,000 at time of writing, making it the sixth-most held crypto by whales.
Despite the current price rally, GALA continues 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% enhance.
Disclaimer: Opinions expressed at The Daily Hodl will not be funding recommendation. Investors ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital property. Please be suggested that your transfers and trades are at your individual threat, and any loses it’s possible you’ll incur are your duty. The Daily Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital property, neither is The Daily Hodl an funding advisor. Please observe that The Daily Hodl participates in internet affiliate marketing.
Featured Image: Shutterstock/Swill Klitch/Natalia Siiatovskaia