The trend of Gala, Fantom and SNM crypto?

Among the tens of thousands of crypto assets that exist in the world, there are some that are performing somewhat differently from the general market trend. In this regard, Gala, Fantom and SNM can be taken as examples.

Analysis of Gala, Fantom and SNM crypto assets

Although it is notably always Bitcoin that most affects the crypto market and dictates the trend, the way this is reflected in the price trends of other cryptocurrencies can vary. 

GALA

One such case is GALA, the Ethereum token from Gala.games

It only debuted in the markets in September 2020, so its high volatility is justified by its youth. 

Until January 2021, its price had never exceeded 1.5 thousandths of a dollar, but with the start of the latest big bull run it began to soar. 

In particular, during the bull run it made three real colossal booms, only to plummet during the bear market. 

The first boom, which began in January 2021, ended two months later above 32 thousandths of a dollar. So in less than ten weeks it recorded +2,000%. 

In September of the same year there was the second boom, which took the price to almost 120 thousandths of a dollar, or a further increase of 275%. 

Finally after mid-November, when the bull run had already ended in the crypto markets, it made another abnormal boom, which led the price to record new all-time highs at the end of November at 824 thousandths of a dollar, with a further increase of 586%. 

Overall from pre-bubble values to highs the growth was nearly 55,000% in less than a year. 

However, even the bursting of the bubble was resounding, so much so that the current price is -94% from the highs. 

If, however, one compares the current price of about 48 thousandths to the pre-bubble price, the gain remains 3.100%, so much so that it turns out to be higher even than in March 2021 after the first boom of 2,000%. 

What’s more, the current price also turns out to be 200% higher than the 2022 lows touched at the end of December, although it must be said that those lows were about half the price reached in March 2021 after the first boom. 

It is therefore a token with a very volatile value, but one that over the long term for now is performing very well. 

Fantom (FTM)

The price trend of FTM, or Fantom cryptocurrency, has been a little less abnormal than that of GALA. 

It was launched in the crypto markets in October 2018, that is, during the bear market of the previous cycle, so it cannot be considered a new cryptocurrency. 

At the end of 2020, its price was below $0.02, but by May 2021 it had already risen above $0.90, a gain of 4,400% in five months. 

FTM’s price in 2021 also had three peaks, but the last two were almost identical, both close to the $3.46 all-time high in October. 

So the second boom caused the price to rise an additional +284%. 

Overall from December 2020 to October 2021 the price rose 17,000% in ten months. 

It is worth noting that 2022 was less violent for Fantom than for GALA, so much so that the current price of FTM is 87% below historical highs. So it rose less, but then it also fell less. 

Moreover, although FTM made its 2022 low in November, when it fell back below $0.20, it had already fallen just above that threshold in June. 

The current price is 170% higher than in November 2022, and 2,200% higher than pre-bubble. Indeed, it is even in line with that of April 2021, which was the month before the first peak, and more than twice as high as the July 2021 level. 

In other words, over the long term, Fantom’s price is performing very well, despite the collapse following the 2021 bubble burst. 

SONM (SNM)

SNM is the token on Ethereum from the SONM project

Its price trend is completely different from that of other cryptocurrencies. 

It is enough to say that the bubble inflated in November 2022, and not in 2021, which is just as the crypto markets were collapsing due to the FTX fiasco. 

However, it is a token with low trading volumes, extreme volatility, and a not at all constant trend characterized by many short spikes. 

It has even existed in the market since late 2017, which is when the speculative bubble of the previous cycle was in place. But despite being a cryptocurrency that can be defined as “old,” its price still has a very volatile trend. 

At the end of 2020, the price was below $0.01. By April 2021 it had increased tenfold, but in May there was the first resounding very short peak that took it above $1.12 for a single day. At the peak it had gained 11,000% from five months earlier. 

By July 2021 it had already lost 90% of its value from the peak, but in November another one formed, also very short, but it did not even reach $1. 

In the first part of 2022 it even fell as low as $0.04, which was a loss of 96% from the previous high, but starting in August a real new bull run began, characterized by an even greater speculative bubble. 

In fact, after returning to $0.70 in September, it retreated to $0.14 in early November, then starting on the 20 November in just 24 hours it reached $10.91, only to plummet below $0.98 the next day. 

This resounding and very rapid ascent of 7,700% in a single day, followed by a 91% collapse in the following 24 hours, is an anomaly, even for crypto markets, and it may have been triggered by some strange event capable of generating a real fast pump-and-dump pattern thanks to low average trading volumes. 

However, after falling even below $0.50 in December, in January the price doubled again to over the $1 threshold. 

It is therefore a token whose price trend is difficult to interpret because of high volatility probably due to very low trading volumes.