Gala Games (GALA) Price Prediction 2021-2025: Is This Blockchain Game Worth Investing?
Gala is a game that is played on a blockchain platform that was co-founded by Eric Schiermeyer, who was co-founder of Zynga, the popular game company that is both mobile and social. Gala aims to alter how players view the gaming industry that is based on blockchain.
The surge in altcoins occurred following its listing on Binance. However, the more convincing argument is that play-to-earn gaming is among the most popular developments in the cryptocurrency industry right now. The game's distinctive characters allow players to earn wealth, rather than spending money in order to be a participant in the community.
But, the recent drop in the crypto-sphere is leading to an increase in Gala Games price. Are you searching for more information? Are the current market conditions favorable for this cryptocurrency? We'll find out by analyzing the price forecast. First, let's look at an outline of the fundamental aspects surrounding Gala Games.
What is GALA?
GALA is the token of utility used by Gala Games and is the primary asset in the game's ecosystem to play and purchase the game's assets. GALA is an integral component of the game that can be utilized through the Gala Node.
To operate a node, users must have a license that permits them to earn NFT and rewards from their personal computer. The catch is that the license costs $13,000 in BAT, ETH or GALA. In addition, the number nodes that are able to participate in the process is capped at the limit of 50,000.
What makes Gala unique?
Gala is a unique platform with a variety of features that distinguish it from other play-to-earn games that are based on blockchain platforms. Gala comes with an integrated store, making it simpler for gamers to play and earn or purchase and sell game items through its in-built marketplace.
It is built on Binance Smart Chain and is an asset that is BEP-20. This helps reduce costs of transactions while using the tokens.
GALA Token: Price Analysis
Flashback: The Fundamental Analysis Of GALA
Gala is a huge community that determines the games that are listed and also determines the performance of Gala's platform. It has 1.3 million users on a monthly basis.
The platform's listing on Binance provided the token with an additional boost. Additionally, the growth of esports and the emergence of blockchain technology in the industry could also be seen as good news for cryptocurrency.
In the Global Gaming Market 2021-2025 report released in the ReportLinker, the gaming sector is set to grow by $125.65 Billion in 2021-2025 and growing at a compound annual rate of growth of 12.5 percent.
The thing that makes this token is the fact that it runs on a secured network with its own network of Founder Nodes. It allocates up to 500.000 Founder Nodes to verify in-game transactions and protect the network.
Additionally, it isn't only one game. It provides a variety of blockchain-based games. Since its inception the project has accumulated 1.3 million active monthly users, and sold over more than 26,000 NFTs (the most expensive item priced at a staggering three million dollars).
In related news, Gala Games entered into an agreement with Polygon the layer-2 scaling protocol to build and connect blockchains that are Ethereum-compatible, in March 2021. This partnership will allow Gala Games to gain lower transaction fees.
The CEO and the founder of Gala Games, Eric Schiermeyer believes that the primary driver for the success of the Gala Games is the fundamental values that underlie it and its corporate goal.
When asked about the increase in the price of GALA, Milko Trajcevski, a financial analyst at Invezz informed capital.com that the rise could be due to the rising NFT market, listings of Binance and Bitbox, and the worth of the service offered.
Flashback: The Technical Analysis Of GALA
According to CoinMarketCap, the current price of the token at press time is $0.50. The market capitalization of the coin has increased by 15.03 percent in the past 24 hours. Moreover, the trading volume of the coin has increased by 12 percent indicating increase in buying pressure.
In the past year, the coin price has increased by more than 17900% due to the increase in the last year. Thus, resulting in an uptrend with an all-time high of $0.82. However, the coin price is 38 percent lower than its all-time high.
On November 26, the GALA token price marked the All-Time High of $0.84. After experiencing significant selling pressure from this level the price entered a correction phase. Thus, resulting in a descending parallel channel pattern in the 4-hour chart.
Concerning the remarkable rally in November, this current token price is trying to stabilize the growth. Moreover, the crypto traders could also grab a great long opportunity if the price breaks above the overhead resistance trendline.
It is noted that the Relative Strength Index (RSI) is currently at 47 percent, indicating a slight neutral to bearish sentiment in price. However, the RSI line has started to display some positive signs with respect to token’s price action, suggesting the increasing strength of market buyers.
Let us now look at the future Gala Games Price Prediction.
Gala Games (GALA) Price Prediction 2021
With the increased selling pressure due to the price becoming overbought, the end of 2021 can see the token coin price reaching the high of $0.6. However, this can be a blessing in disguise considering what the future holds for the platform.
Gala Games (GALA) Price Prediction 2022
The price prediction shows there could be a growth in token price to reach the high of $2 by June 2022. But, by the end of November, the token price may reach the low of $2.80.
Gala Games (GALA) Price Prediction 2023
According to the technical analysis, the value of a single token is projected to hit a minimum price of $6 in 2023. With an average daily trading price rising to $6.5 by the end of 2023.
Gala Games (GALA) Price Prediction 2024
Throughout 2024, the price prediction expects the token value to reach a minimum price of $10. In 2024, the token value may reach a high of $12, by an average price of $11.5.
Gala Games (GALA) Price Prediction 2025
The Gala Games price is projected to hit a high of $15 by March 2025. According to our estimates, the token value might hit a high of $18, with an average projected price of $16 by the end of 2025.
Gala Games (GALA) Price Prediction: Market Sentiment
Below you will find the price analysis of GALA Coin by different media outlets.
Digital Coin Price
Digital Coin Price revised their price prediction for the gaming token. According to them, the price could reach $0.89 in 2022 before accelerating further until it reaches $1.5 at 2025's end. At the end of 2028 it could reach $2.35.
Wallet Investors
According to investors who use the wallet investors might think that the token price could continue to sustain the upward trend and could reach a peak of $0.84 by the year 2022's end. They expect that the price could surpass the mark of $2 in 2025.
Gov Capital
Gov Capital has updated their forecast for the gaming token price. They anticipate the token to go up to an all-time high of $0.94 by the end of 2022. The website also has made an astounding prediction for the future, they believe the price will rise up to $5.74 in the next five years.
Price Prediction
The long-term forecast is bullish for altcoins, as they anticipate the token price to reach a peak of $2.84 by 2025. Moreover, they predict that the price will reach $17 by the end of 2028.
Our Gala Games (GALA) Price Prediction
It is worth paying attention to the Gala Games token if you're seeking the next cryptocurrency to take off. In the first place, the Gala Games project is focused on an opportunity that is lucrative. The gaming industry's revenue is projected to reach $175.8 billion by 2021 and exceed $200 billion by 2023. The plan to launch more thrilling games will increase the number of gamers.
The project also has an NFT business and has also launched the Vox NFT line with its Vox brand. NFTs are a growing industry and investors are looking to gain exposure to the sector.
Perhaps what might entice investors who are interested in this platform dedicated to creating an entertaining metaverse. The metaverse is predicted to be an enormous business opportunity, and NFTs will play some role. The potential of the metaverse is so appealing that Facebook has revamped its brand name to Meta Platforms.
In terms of price, the token price has an outstanding potential to reach new heights. It is forecast that it will increase in value. According to specific experts and business analysts, the token price can hit the highest price of $18 till 2025.
Conclusion
Gala Games token price is at present showing a substantial decrease from the previous record-setting price. Based on the general trend of prices since the beginning of the year, it is anticipated that the price of the token will have the potential to increase again.
This platform has attracted around 35,000 people since its launch one year ago. Investors have invested nearly $2 billion into Gala, a cryptocurrency. If you are a believer in metaphysics, are looking for exposure to the rapidly growing market for digital games and NFTs, or are searching for the next cryptocurrency that will rise, you might be interested in trying your chances with Gala.
