The role of Gala in developing blockchain gaming is significant and multifaceted. Gala Games, with Gala crypto as its native token, has been dominant in the intersection of blockchain technology and gaming. Gala Games is an ecosystem that combines blockchain technology, gaming, and NFTs to offer a unique gaming experience and ownership of in-game assets. Gala crypto serves as the native utility token of the Gala Games ecosystem, powering various aspects of the platform. Gala aims to empower gamers by giving them true ownership of their in-game assets. Traditionally, gamers spend countless hours and money acquiring virtual items and characters, only to have limited control over them. Gala Games leverages blockchain technology to ensure that players have full ownership and control of their digital assets, which can be bought, sold, and traded as NFTs. The Gala Games ecosystem introduces the concept of “play-to-earn.” This means that players can earn GALA tokens by participating in games within the Gala ecosystem. While Gala holds great promise, it also faces challenges. The gaming industry is highly competitive, and the success of Gala Games will depend on the quality of the games they produce and the adoption of their ecosystem amid regulatory hurdles. Over the last few weeks, Gala price has been on a bullish rally as <div%20id=%22ccpw-price-label-60415%22%20class=%22ccpw-container%20price-label%20%22><div%20class=%22ccpw_react_widget%22%20id=%22ccpw_react_widgets_604151946739455%22%20data-attribute=%7B%22type%22:%22price-label%22,%22design%22:%22style-1%22,%22custom_currency%22:%5B%22bitcoin%22%5D,%22design_card%22:%22%22,%22column_card%22:%22%22,%22currency%22:%22USD%22,%22card_display_changes%22:%22%22,%22show_coins%22:%22custom%22,%22live_changes%22:%22on%22,%22label_24h_changes%22:%22%22,%22enable_formatting%22:%22%22%7D></div></div><style%20type=’text/css’>%0D%0A%09%09%09%20%20#ccpw-price-label-60415.price-label%20.row%20li,%0D%0A%09%09%09%20%20#ccpw-price-label-60415.price-label%20.row%20li.style-2%20.style-2%20.ccpw_icon%20%7Bbackground-color:#eee;%7D%0D%0A%09%09%09%20%20#ccpw-price-label-60415.price-label%20.row%20li%20span.name,%0D%0A%09%09%09%20%20#ccpw-price-label-60415.price-label%20.row%20li%20span.symbol,%0D%0A%09%09%09%20%20#ccpw-price-label-60415.price-label%20.row%20li%20span.ticker-price,%0D%0A%09%09%09%20%20#ccpw-price-label-60415.price-label%20.row%20li%20.ccpw-multi-price-text,%0D%0A%09%09%09%20%20#ccpw-price-label-60415.price-label%20.row%20li%20.style-4%20.live-pricing%20%7Bcolor:#000;%7D%0D%0A%09%09%20%20%09</style>-price/”> price successfully pushed its price above $44K. However, with the market now facing liquidation from buyers, GALA price is tumbling near support levels. Our Gala price prediction aims to explore Gala’s current market details with in-depth technical analysis and guide investors with a profitable investment plan in 2024.
Gala: A Quick Introduction
Gala Games, founded in 2018 by Eric Schiermeyer, one of Zynga’s co-founders, in collaboration with crypto miner Wright Thurston and Michael McCarthy, the creative mind behind popular games like FarmVille, aimed to revolutionize online gaming. Their primary objective was to decentralize the gaming industry and serve a diverse range of gamers seeking a robust shift in the way gaming operated.
The initial introduction of non-fungible tokens (NFTs) into the Gala Games ecosystem marked the initial move towards achieving decentralization and granting players true ownership of their in-game assets. NFTs, unique digital assets, could now be collected, traded, and sold, not only within individual games but seamlessly across the entire Gala Games ecosystem.
To realize its ambitious vision, Gala Games has established a robust blockchain network by GALA tokens. This blockchain system is built on the
(ETH) blockchain, ensuring compatibility with existing blockchain technology. GALA tokens are freely transferable among users, providing them with complete autonomy over how they choose to utilize this digital currency, thereby enhancing the decentralization ethos at the core of Gala Games’ mission.
Users have the option to acquire nodes using cryptocurrencies such as GALA,
(ETH), or Basic Attention Token (BAT), gaining voting rights to influence which games will be featured next on the platform. This involvement in decision-making is part of what is known as the Founder’s Nodes in the Gala Games Ecosystem. This ecosystem is sustained by over 16,000 nodes operated by players.
The GALA cryptocurrency also serves to compensate holders and owners of Founder’s Nodes. These owners are rewarded for running their computers on the network for a minimum of six hours daily, with the distribution of rewards occurring each day. To ensure the efficient operation of the network, 50,000 Founder’s Nodes were made available at the time of its inception.
Gala Games: Ecosystem
Gala Games features a wide range of blockchain-based games, crafted both internally and by external partners like Ember Entertainment, Kung Fu Factory, GAMEDIA, Certain Affinity, and 22cans.
Key elements of Gala Games’ play-to-earn model include:
- Gala Nodes: This decentralized network, unlike traditional centralized servers, is powered by a multitude of computers. Operators, known as nodes, contribute processing power to the Gala Games network in return for incentives. These operators play a crucial role in protecting the network against harmful activities, verifying transactions, and generating GALA assets. Rewards for nodes include GALA tokens and exclusive NFTs. Node operators also participate in community decision-making and ecosystem development. Operating a node requires a Gala Node license, purchasable with GALA tokens.
- Gala Games Ecosystem: The platform hosts a variety of engaging games that draw millions of users. Key games include:
- Town Star: Gala Games’ inaugural game where players build and manage a town, competing for a share of a weekly prize pool.
- Mirandus: A fantasy RPG focusing on monster battles, land development, and earning in-game rewards.
- Spider Tanks: A team-based multiplayer battle arena game featuring diverse maps and weaponry.
- Fortitude: A PvP tower defense game where players strategize to attack and defend villages.
- Echoes of Empire: A strategic sci-fi game where players vie for limited resources in a vast universe.
Gala Games stands out from its competitors by incorporating the p.Network Bridge, linking its tokens to the BNB Chain. Consequently, GALA tokens follow the BEP-20 standard, facilitating reduced transaction costs on the platform.
Gala Price Prediction: Price History
Understanding the historical price trends of GALA can provide valuable context for interpreting or formulating price predictions, though it’s important to remember that past performance is not a reliable indicator of future results.
GALA began to attract attention in September 2021, following its listing on prominent cryptocurrency exchanges such as Binance (BNB) and Bibox. This exposure led to a significant price increase, with GALA reaching $0.113 on September 23, 2021—a substantial rise from its all-time low of $0.00022 on December 28, 2020.
The price of GALA experienced a period of stagnation around October and mid-November 2021. This phase coincided with updates to the Gala Games platform that simplified the transfer of items to the
Network and a memorandum of understanding between Gala Games and Wemade Tree, a subsidiary of the South Korean gaming company Wemade.
A notable spike occurred on November 15, 2021, when Gala Games announced the limited release of Game Node licenses for its game Town Star. This news drove the GALA price up threefold, from $0.13 on November 15 to $0.37 just a week later.
Continuing its upward trend, the GALA token reached its peak price of $0.71 on November 28, 2021, following the announcement of a new series of VOX NFTs. This price point remains its all-time high.
Following its peak, the market experienced a downturn, resulting in GALA closing the year at $0.4514.
The year 2022 proved challenging for the metaverse sector, particularly underperforming in an already bearish cryptocurrency market. By mid-May, the value had declined to below $0.05. There was a brief recovery in August, with the price rising above $0.07, but the downfall of the FTX exchange had a significant impact, leading to a closing value of $0.01666 at the end of the year. This represented a substantial year-on-year loss of over 96%.
In 2023, the performance of the token has shown some improvement, although it remains far from its peak period in late 2021. The announcement in January about Gala Films, the movie division of the company, working on projects with renowned Hollywood actors Dwayne “The Rock” Johnson and Mark Wahlberg, led to a significant price increase. The token’s value rose to $0.06241 on January 28.
However, following this surge, the price experienced a downturn. A notable low point occurred on June 10, when the token’s value dropped to $0.01879. This decline coincided with news of Crypto.com suspending its institutional operations in the United States. Despite these challenges, the token has shown signs of recovery, reaching approximately $0.035 in recent weeks.
Gala Price Prediction: Technical Analysis
Recently, the Gala coin price experienced a bullish surge, which has triggered buyers near the immediate resistance levels. The price has made a slow climb above $0.018 as the BTC price touched a high of $44K. However, after surging above the $0.035-mark, Gala’s price sparked a selling momentum and declined heavily. The price has been facing minor rejections recently as it lost buyers’ confidence following wide market selloff. A thorough technical analysis of the Gala token price reveals bullish indicators, which may soon send the price to new highs.
According to Coinmarketcap, the Gala token price is currently trading at $0.031, reflecting a decrease of 4.4% in the last 24 hours. Our technical evaluation of the Gala price indicates that the current bullish momentum may soon fade as bears are attempting to reverse the trend from the upcoming resistance at $0.035; however, bulls are trying to prevent the price from dropping below the immediate support level of $0.024. Examining the daily price chart, the Gala coin price has found support near the 23.6% Fib level, from which the price gained bullish momentum and attempted to break above multiple Fib channels. As Gala price continues to trade above the EMA20 following a recent rebound, buyers are gaining confidence to open further long positions and send the price to test its upcoming resistance. The Balance of Power (BoP) indicator is currently trading in a negative region zone at 0.57 as sellers are increasing their domination on the price chart.
To thoroughly analyze the price of a Gala token, it is crucial to take a look at the RSI-14 indicator. The RSI indicator recently experienced a decline as the GALA price failed to hold buyers’ demand near resistance channels. The trend line is currently hovering below the midline as it trades at level 45, hinting that further downward correction is on the horizon. It is anticipated that the Gala price will soon attempt to break above its immediate Fibonacci level to achieve its short-term bullish goals of around $0.051. If bears fail to plunge below the current 0.038 Fibonacci region, an upward trend might be on the horizon.
As the SMA-14 continues its swing by trading at 59, it trades slightly above the RSI line, potentially holding promises about the coin’s upward movement on the price chart. If Gala’s price makes a bullish reversal above $0.035-$0.051, it can pave the way to resistance at $0.063. A breakout above will drive the coin’s price toward the upper limit of the Bollinger band at $0.073 and then to $0.1.
Conversely, if Gala fails to hold above the critical support region of $0.027, a sudden collapse may occur, resulting in further price declines and causing the coin’s price to trade near the Bollinger Band’s lower limit of $0.017. If the price fails to continue a trade near that level, it may trigger a more significant bearish downtrend to $0.012.
Gala Price Prediction By Blockchain Reporter
Gala Price Prediction 2023
The price of 1 Gala is expected to reach a minimum level of $0.0279 in 2023. The GALA price can reach a maximum level of $0.0317 with the average price of $0.0308 throughout 2023.
Gala Price Prediction 2024
According to our deep technical analysis on past price data of GALA, in 2024, the price of Gala is forecasted to be at around a minimum value of $0.0423. The Gala price value can reach a maximum of $0.0507 with the average trading value of $0.0439.
GALA Price Forecast for 2025
According to our deep technical analysis on past price data of GALA, in 2025, the price of Gala is predicted to reach at a minimum level of $0.0628. The GALA price can reach a maximum level of $0.0744 with the average trading price of $0.0650.
Gala (GALA) Price Prediction 2026
The price of Gala is predicted to reach a minimum value of $0.0921 in 2026. The Gala price could reach a maximum value of $0.1124 with the average trading price of $0.0954 throughout 2026.
Gala Price Prediction 2027
The price of Gala is predicted to reach a minimum value of $0.1272 in 2027. The Gala price could reach a maximum value of $0.1614 with the average trading price of $0.1320 throughout 2027.
Gala Price Prediction 2028
Gala price is forecast to reach a lowest possible level of $0.1796 in 2028. As per our findings, the GALA price could reach a maximum possible level of $0.2207 with the average forecast price of $0.1862.
Gala (GALA) Price Prediction 2029
As per the forecast and technical analysis, in 2029, the price of Gala is expected to reach a minimum price value of $0.2535. The GALA price can reach a maximum price value of $0.3130 with the average value of $0.2628.
Gala Price Forecast 2030
As per the forecast price and technical analysis, in 2030, the price of Gala is predicted to reach at a minimum level of $0.3865. The GALA price can reach a maximum level of $0.4494 with the average trading price of $0.3970.
Gala (GALA) Price Prediction 2031
The price of Gala is predicted to reach a minimum level of $0.5514 in 2031. The Gala price can reach a maximum level of $0.6643 with the average price of $0.5712 throughout 2031.
Gala Price Prediction 2032
Gala price is forecast to reach a lowest possible level of $0.7776 in 2032. As per our findings, the GALA price could reach a maximum possible level of $0.9579 with the average forecast price of $0.8061.
Gala Price Forecast: By Experts
According to Coincodex, their current price prediction for GALA suggests a decline of -7.32%, with an expected price of $0.028828 by December 16, 2023. The technical indicators used by Coincodex indicate a Neutral current sentiment, alongside a Fear & Greed Index score of 74, signifying Greed. GALA has experienced 63% green days (19 out of 30) with a price volatility of 10.68% in the last 30 days. Coincodex’s forecast suggests that it might be a favorable time to purchase GALA.
Furthermore, their analysis, which includes historical price trends of GALA and
halving cycles, estimates that GALA’s lowest price in 2024 could be around $0.027028. They also predict that GALA could potentially reach a high of $0.071810 in the next year.
According to Digital Coin Price’s forecast data analysis, the price of GALA is anticipated to surpass $0.0692 in 2024. By the conclusion of that year, GALA is predicted to attain a minimum price of $0.0659, with the potential to reach a maximum of $0.0778. Further into the future, their analysis suggests that in 2032, the price of GALA is expected to exceed $0.58, with a minimum price projection of $0.58 by the end of the year and the possibility of achieving a maximum level of $0.59.
Is Gala A Good Investment? When To Buy?
The future of the token’s performance is uncertain. Although it may have seen some recovery alongside the market recently, predicting the duration and extent of this uptrend is challenging. Conversely, considering the significant loss of over 95% in value that occurred in 2022, it’s plausible that the situation might not deteriorate much further in the coming months. Additionally, the potential resurgence of the metaverse could favorably impact the token, but whether this will materialize is yet to be determined.
Before making an investment decision about Gala Games, it’s crucial to conduct thorough research. This involves not only understanding GALA but also exploring other comparable cryptocurrencies like The Sandbox (SAND) and Decentraland (MANA). Ultimately, the choice is yours, but it’s essential to remember to only invest an amount of money that you can comfortably afford to lose. However, an investment at $0.02 might turn profitable in the long-term.
Conclusion
Based on our price forecast, Gala shows potential for significant growth in the future. After analyzing the financial aspects of the coin, we believe it holds promise as a long-term investment, with our projection setting the GALA token price at $0.9579 for 2032. While we maintain a positive outlook on the token, it’s important for investors to conduct their own research prior to making an investment.
Source: https://blockchainreporter.net/gala-price-prediction-will-gala-price-break-1-in-2024/