2 November 2024
Ethereum Whales Are Accumulating This New Gaming Altcoin
Many altcoins are exploding in value and recognition after the Metaverse trend. The Crypto whales are accumulating the lesser-known gaming project.
As per WhaleStats, a Crypto tracker website, Gala Games (GALA) holds nearly 1% of total holdings of $519.5 million worth among the top 1,000 Ethereum (ETH) whale wallets.
Popular games such as Decentraland (MANA), Axie Infinity (AXS), and The Sandbox (SAND) account for smaller portions than GALA. MANA accounts for 0.29% of the whales’ bags worth $171.9 million, and SAND makes up 0.24% for a value of $141.4 million.
There is no current data for AXS on WhaleStats, but a new tweet states that Axie Infinity is the third-most-popular search keyword on the site.
While talking about GALA, it is an Ethereum-based play-to-earn altcoin that soared in value after it got listed on Coinbase in November.
The new Blockchain-based gaming protocol allows users to be a part of game development, letting users have their in-game items in the form of non-fungible tokens (NFTs).
In the WhaleStats report, GALA is among the top-10 total holdings wallets list. According to data, the average number of holding tokens exceeds 1 million and is valued at $519,591.
Currently, GALA is trading at $0.47. Similar to other tokens, it has witnessed an unstable market in the last few weeks after reaching a monthly high of $0.74 on November 24th.
Disclaimer: The author’s thoughts and comments are solely for educational reasons and informative purposes only. They do not represent financial, investment, or other advice.
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