Gala token jumped sharply on Tuesday after the developers announced a plan of a new airdrop. The token jumped to a high of $0.048, the highest level since March 19th. It has soared by more than 216% from the lowest level in January this year.
Gala airdrop upcoming
The main reason why GALA price jumped sharply is that the developers announced plans to launch an airdrop of the second version of the token. This airdrop will happen on a 1:1 basis to holders of the current version of the GALA token.
In a blog post, the developers explained the reason for this airdrop. They said that the token will be part of its upgrade of the broader ecosystem as it adopts to the Gala smart contracts on Ethereum. Some of the features of the new token are that it will be secure and more user-friendly. It will also introduce a burn mechanism.
By introducing burning, the developers hope to reduce the overall volume of the tokens and create more value for holders. As part of this transition, the developers cautioned GALA holders that they must remove their tokens from liquidity pools or smart contracts before May 15th. The statement said:
“We envision a bright future for $GALA and the projects that will be built upon it. This new era for our GALA paves the way for a prosperous and thriving ecosystem that benefits all participants.”
Gala Games is one of the leading players in the blockchain industry. It is a gaming, metaverse, and non-fungible token (NFT) platform. Its primary service is that it enables developers to build and deploy games, which users can play in the ecosystem.
Gala Games is also working to launch its own smart chain, known as GalaChain, which will be more secure, faster, and cheaper.
Gala price prediction
The daily chart shows that the GALA token has been in a strong bullish trend in the past few days. It has jumped above the 25-day and 50-day moving averages. It also retested the key resistance point at $0.048, the highest point on March 18.
Therefore, there is a likelihood that the token will continue rising as buyers target the next key resistance point at $0.062, the highest point on January 27. A drop below the support at $0.043 will invalidate the bullish view.
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Following the successful launch of their V1 tokenized deflationary asset Gala Token, the team at Gala Games have just announced an upcoming V2 airdrop that has provided a big surge in its token’s value on the decentralized exchange Uniswap.
Gala Token, an Ethereum-based non-fungible token (NFT) which is used as part of in-game digital deposits, saw a major jump in its Uniswap volume, with its swap price rising over 17 percent in the past 24 hours.
The strong performance of the Gala Token appears to be a direct result of the announcement of the V2 airdrop. On April 20, Gala Games released a blog post on their website providing details on the upcoming scheme. It will include new drops of the token, as well as changes in the terms of the airdrop for existing token holders.
The V2 airdrop will be open to all existing Gala Token holders. It will use an airdrop formula event, which rewards token holders with additional free tokens for each token they hold. The team have also said that the exact formula for calculating airdrop rewards will be revealed closer to the event, which is scheduled for the end of May.
The news has caused a flurry of excitement in the crypto community, with crypto-enthusiasts eager to find out what’s next for the project.
Gala Games has been making exceptional progress since the launch of their first NFT product back in 2020, and the upcoming V2 airdrop presents an exciting opportunity for investors. With Gala Token finding a stable footing and the focus shifting to the upcoming airdrop, investors and users can look forward to more news in the near future from Gala Games as they continue to add on more utility and value to their NFT products.