GALA crypto price gains steam after new token burn news

Gala crypto price has been in a strong bullish trend in 2023, making it one of the best-performing cryptocurrencies in the industry. The token surged to a high of $0.054, which was about 250% from its lowest point in December. 

Why Gala token is soaring

There are several reasons why GALA crypto has surged in the past few weeks. First, the developers announced a deal that will see the network partner with The Rock to produce two films. This is notable since The Rock is one of the best-known actors in the industry. He is also known for appearing in some of the top-selling movies. However, as we wrote here, Gala deleted the tweet making the announcement.

Second, Gala developers announced that they will incorporate mobile gaming in their ecosystem. This means that developers will be able to create games that can be downloaded from Android and iOS stores. As a result, they will have a large market considering that there are more than 5 billion smartphone users internationally. 

Third, the most recent reason why Gala has surged is the new introduction of pay by burn approach. In a statement, the developers said that all purchases made in Gala’s ecosystem using the GALA token will see it get burned. When the Gala is burned it will be added to an emissions pool to be re-emitted through the Founders Nodes in the normal distribution. 


According to the developers, burning these tokens will help to provide more utility to the ecosystem. Meanwhile, the developers are working on the Meow Match, which is a major upgrade to the network. In the first quarter, they will onboard Meow Match to the Gala Platform, launch Cat NFTs, and transform all earned in-game cats into claimable NFTs. In the second quarter, the Meow NFTs will be upgraded to utilize cat NFTs.

Gala price prediction

The 4h chart shows that GALA price has been in an unstoppable bull run in the past few weeks. As it rose, it managed to move above the important resistance level at $0.050, which was the highest point on Monday. Gala has moved above the ascending triangle pattern and the 25-day and 50-day moving averages. 

Notably, Gala is not yet in an overbought level. Therefore, there is a likelihood that the coin will continue soaring as buyers target the key resistance level at $0.060. A drop below the key support level at $0.050 will invalidate the bullish view

How to buy Gala



eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.

Buy GALA with eToro today


OKX is a top cryptocurrency exchange which offers over 140 cryptocurrencies to invest in. OKX takes customer security very seriously, they store almost all of their clients’ funds in cold storage, and the exchange is yet to be hacked. On top of this, the exchange offers very low fees and customers can even use their crypto as collateral for loans on the platform.

Buy GALA with OKX today

All Dutch and English crypto news!

Crypto price predictions: SUSHI, Immutable X, AGIX

SushiSwap price jumped as volume and revenue in DEX platforms rose. Immutable X (IMX) did well after the launch of Passport. SingularityDEX token could be forming a...

Bitcoin slips amid market reaction to US jobs report

Bitcoin price fell slightly to retest support near $23,250 on Friday. The top cryptocurrency's price action mirrored early trades on Wall Street as the market reacted...

Aandeel van de grote Bitcoin whale stijgt meer dan 100% in één maand

Het bedrijf MicroStrategy kocht vorig jaar een gigantisch aantal Bitcoin. Het bedrijf schreef in 2022 meer dan 8.800 Bitcoin bij op de balans, en de...

$20K Bitcoin may return, says analyst as US unemployment hits 54-year low

Bitcoin (BTC) fell prior to the Feb. 3 Wall Street open as fresh United States economic data came in "hot hot hot." BTC/USD 1-hour candle chart...

Beste exchanges

Koop je crypto bij Bitvavo