Gala Games Price Prediction 2024: GALA Helps Lead Crypto Recovery

Key Takeaways

• GALA supports the Gala Games metaverse gaming platform. 
• Having rallied more than 10% on April 18, can the Gala Games token continue to rise?
• One price prediction says it may reach $0.1644 next year.

Gala Games was one of crypto success stories in the run up to the Bitcoin Halving in April 2024. As the market entered a volatile phase, GALA rose, climbing more than 10% from $0.04031 to $0.445 on April 18. However, this upturn should be put into the context of a crypto that lost money overall since peaking in early March.

The crypto market took a hit in June 2023. The news that the United States Securities and Exchange Commission was suing the Binance and Coinbase exchanges over, among other things, selling unregistered securities damaged the market. 

Things got better towards the end of the month, with one website declaring  that it was “altseason”, a time when the all-powerful Bitcoin (BTC) was being outperformed by other cryptos. 

One crypto that looked to cash in on an expansion of interest was GALA, which had struggled over the previous 18 months after the metaverse fad passed.

Even now, GALA remains one of the largest cryptos in the metaverse space.

On April 19 2024, GALA was worth about $0.0454.

Gala Games did not immediately respond to a request for comment.

But what is Gala Games (GALA)? How does Gala Games work? Let’s see what we can find out, and also take a look at some of the Gala Games Price Predictions that were being made as of April 19, 2024.

Gala Games Price Prediction

Let’s examine some of the Gala Games price predictions being made on April 19, 2024. It is crucial to bear in mind that price forecasts, particularly for a potentially volatile asset like cryptocurrency, often turn out to be inaccurate. Additionally, please remember that many long-term crypto price predictions are generated using algorithms, which means they can change at any time.

First, CoinCodex  made a short-term Gala Games price prediction which said that the coin would go to $0.057 by April 24 before making a jump to $0.1431 by May 19. The site’s technical analysis was, perhaps surprisingly, bearish, with 15 indicators sending encouraging signals and 13 making bullish ones. 

Gala Games Price Prediction for 2024

CaptainAltCoin  said GALA could reach $0.0564 this year while DigitalCoinPrice  suggested it would hit $0.0934. PricePrediction.net , on the other hand, claimed that it would trade at $0.0547 in 2024. 

Gala Games Price Prediction for 2025

CaptainAltCoin’s Gala Games price forecast said the coin could reach $0.1644 in 2025 while DigitalCoinPrice had it at $0.11 that year. PricePrediction.net said it would trade at $0.0772 next year.

Gala Games Price Prediction for 2030

As far as a more long-term Gala Games price prediction went, CaptainAltCoin said GALA could reach $0.416 in 2030. DigitalCoinPrice thought it could trade at $0.34 then. PricePrediction.net’s GALA price prediction had it reach $0.4855 at the start of the next decade. 

Google BardAI Price Prediction for Gala Games (as of April 19)

Google’s BardAI platform gave the following price prediction for Gala Games on April 19. Please remember that the exact price prediction of an asset or cryptocurrency in the future is nearly impossible to achieve. Additionally, artificial intelligence price predictions are predicated on past performances and are in no way entirely accurate.

Short-Term (Next Few Months):

• Possible Increase: There’s a chance GALA could see a moderate increase of around 10% in the next few months. This prediction is based on some forecasting services and a recent uptick in the Fear & Greed Index towards “Greed.”
• Reasons for Caution: The overall crypto market can be volatile, and GALA has experienced a recent price drop. Technical indicators remain mixed, with some suggesting a potential pullback.

Medium-Term (Next 1-2 Years):

• Potential Growth: If Gala Games keeps developing its gaming ecosystem and utility for GALA tokens increases, the price could reach $0.07-$0.10. This is based on predictions that consider Gala’s potential for user base growth.
• Challenges to Consider: The success of the Gala Games platform and broader adoption of blockchain gaming are crucial factors. Competition in the play-to-earn space is fierce.

Long-Term (5+ Years):

• Ambitious Target: Long-term forecasts can be highly speculative. Some services predict GALA reaching $1.00 or even higher by 2030, assuming widespread blockchain gaming adoption and strong Gala Games growth.
• Uncertainties Remain: Long-term predictions come with significant uncertainties. Regulations, technological advancements, and overall market trends can significantly impact GALA’s price.

It added: “These are just predictions, and the actual price movement of GALA can differ significantly. It’s vital to do your own research before making any investment decisions.”

Recent Updates from Gala Games

The VGX Foundation and Gala Games have joined forces  to integrate VGX, previously known as Voyager Digital’s token, into Gala’s immersive titles. This groundbreaking collaboration opens up a realm of possibilities, enabling VGX to be seamlessly utilized for in-game rewards and purchases.

This initiative comes in the wake of Voyager Digital’s bankruptcy filing in 2023. Despite this challenge, the VGX Foundation seized the opportunity to inject new life into the token, with over 278 million VGX tokens still actively circulating.

Utilizing the GalaChain software development kit, developers now have the capability to integrate VGX rewards directly into their games, elevating the gaming experience for players worldwide. By participating in Gala Games’ season passes, gamers can earn VGX for their achievements, fostering a dynamic and engaging environment.

GALA Price History

Let’s now cast our eyes over the Gala Games price history . While past performance should never be taken as an indicator of future results, knowing what the crypto has done can help give us some very useful context when it comes to either making or interpreting a Gala Games price prediction. 

When GALA first came onto the open market in the middle of 2020, it was worth $0.0005. Although the crypto market enjoyed a bull run in early 2021, it was not until metaverse mania ran wild in the late summer that the token started to pick up. The news of its listing on Binance saw it skyrocket, and it crossed over $0.10 in September. 

There was more to come later in the autumn, as an already-bouyant crypto market, coupled with the release of new VOX NFTs, saw it shoot up from $0.11 on 16 November to an all-time high of $0.8367 on 26 November. After this, the market dropped and it closed the year at $0.4514.

The chickens really came home to roost for the metaverse in 2022, with the sector underperforming a seriously bearish crypto market. By the middle of May, it had sunk below $0.05 and, despite returning to over $0.07 in August, the collapse of the FTX exchange saw it sink to close the year at $0.01666, a year-on-year loss of more than 96%.

Gala Games in 2023 and 2024

2023 was a little better, although the token is still a long way from its golden period of late 2021. In January, the news that its movie division, Gala Films, was working on projects with Hollywood superstars Dwayne “The Rock” Johnson and Mark Wahlberg saw it shoot up to $0.06241 on 28 January. 

After that, though, it was back down and it reached a nadir on 10 June when, following the news that Crypto.com was suspending its American institutional arm, it fell to $0.01879. Since then, it has made something of a recovery and, on 27 June 2023, it was worth about $0.026.

GALA then ended 2023 at $0.03067 and moved mostly down between January and February, reaching $0.02189 on February 7, 2024. It then jumped in mid-March, peaking at $0.08587 on March 10. The crypto then fell, reaching a low of $0.03408 on April 13. On April 18, it jumped more than 10% from $0.04031 to $0.0445 and, on April 19 2024, GALA was worth about $0.0454.

At that time, there were 30.3 billion GALA in circulation, out of a total supply of 32.3 billion. This gave the token a market cap of about $1.3 billion, making it the 63rd largest crypto by that metric.

Gala Games Price Analysis

Since October, GALA has been climbing after hitting a low of $0.012. This point was significantly below its peak of $0.87 in November 2021. GALA’s price rose to $0.035 by December 26 last year but then dipped, later stabilizing at a new higher low of $0.021 on February 5.

Subsequently, GALA entered a bullish trend, on March 10, a notable increase from its early 2023 high of $0.062. This upswing marked the onset of a bull market, even though an initial higher low took place in February.

Since its March peak, we saw a significant drop, with the price falling around 60% to April 13. If this was a corrective stage, GALA’s wave structure could also suggest its completion. 

A confirmation should come if it establishes a higher low, but considering it has recovered by 38% to $0.047, there have already been some bullish signs. Even though the fall from March was significant, there is still a chance it was the fourth wave of a larger five-wave move to the upside. 

If this is the case, GALA could now start its next upward move. However, considering the depth of this downfall it is unlikely that it could reach its previous high. This is because that would be something like a 90% increase from its current level.

Is Gala Games a Good Investment?

It is hard to say. The token may be on a winning streak, but there is no telling how long the upturn will last, nor where it will get to.

On the other hand, things could barely go worse for GALA over the coming months than they did in 2022, when it lost more than 95% of its value.

Keep in mind that GALA could benefit from a metaverse comeback, but it remains to be seen whether than will actually happen.

As ever,  it is vital that you do your own research before deciding whether or not to invest in GALA.

Will Gala Games go up or down?

No one can really tell right now. While the price forecasts are broadly optimistic in the long run, price predictions are very often wrong. You should also remember that prices can, and do, go down as well as up. 

Should I invest in Gala Games?

Before you decide whether or not to invest in Gala Games, you will need to do your own research, not only on GALA but on other, similar, coins and tokens, such as The Sandbox (SAND) and Decentraland (MANA). Ultimately, though, you will have to decide for yourself but, before you do, make sure that you never invest more money than you can afford to lose.

Who are the Founders of Gala Games?

Zynga co-founder Eric Schiermeyer and Michael McCarthy, the creative director behind such viral gaming hits as Farmville 2 in 2018 set up Gala Games in 2018. Since then, Gala has grown to be a leader in Web3 entertainment.

Who Owns the Most Gala Games (GALA) Coins?

On April 19, 2024, a wallet linked to the Binance crypto exchange held more than 25% of the supply of GALA.

Richest GALA Wallet Addresses

As of April 19, 2024, the five wallets with the most GALA were

• 0xf977814e90da44bfa03b6295a0616a897441acec. This wallet, listed as Binance, held 7,286,856,492 GALA, or 25.04% of the supply.
• 0xab4a1ff6b3c029f47baae511d304050787e77521. This wallet held 2,024,160,136 GALA, or 6.96% of the supply.
• 0x098cbdd8eb01b19d37539644821772e9bde12d55. This wallet held 984,083,288 GALA, or 3.38% of the supply.
• 0x7d96d2488402ded8e8f66b3f251b68258fcd42c3. This wallet held 799,907,938 GALA, or 2.75% of the supply.
• 0xf3b0073e3a7f747c7a38b36b805247b222c302a3. This wallet also held 757,538,319 GALA, or 2.6% of the supply.

Fact Box

From the Whitepaper

Gala Games doesn’t currently have a publicly available whitepaper on their website https://games.gala.com/ .

Gala Games (GALA) Explained

The idea behind Gala was to create a world of online gaming that was decentralized and, with the growth of the Metaverse, it set itself up to be a place where people could buy, sell, trade, and earn non-fungible tokens within games. 

As of 27 June 2023, there were 19 games listed on the Gala Games website , with four of them live. The system also has its own NFT collection, called VOX. 

Gala Games is supported by the GALA token. 

How Gala Games Works

The Gala Games platform is based on the Ethereum (ETH) blockchain. Its native token gives holders the right to vote on changes to the network. For instance, people who hold GALA can help decide what games go into development on the platform. 

GALA’s holders can purchase nodes on the network, which help the system run, and can earn their operators’ rewards. 

People can also buy, sell, and trade GALA on exchanges.

Gala Games Attention Tracker

Here is a chart for Gala Games’ Google search volume for the past 90 days. This represents how many times the term “Gala Games” has been Googled over the previous 90 days.

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Disclaimer 

Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.

About the Author

Giuseppe Ciccomascolo

Giuseppe Ciccomascolo began his career as an investigative journalist in Italy, where he contributed to both local and national newspapers, focusing on various financial sectors. Upon relocating to London, he worked as an analyst for Fitch's CapitalStructure and later as a Senior Reporter for Alliance News. In 2017, Giuseppe transitioned to covering cryptocurrency-related news, producing documentaries and articles on Bitcoin and other emerging digital currencies. He also played a pivotal role in establishing the academy for a cryptocurrency exchange website. Crypto remained his primary area of interest throughout his tenure as a writer for ThirdFloor.

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