Among the notable cryptocurrencies at this start of the year we can certainly mention Decentraland (MANA) and Gala.
Crypto analysis of GALA and Decentraland (MANA)
Investors were surprised this start of the year under the banner of such high volatility but at the same time marked by sharp recoveries such as that of Decentraland (MANA) and Gala.
Gala Group (GALA)
Gaming company Gala Group, which is headed by the smaller Gala Games, a platform for games based on blockchain technology, has recently made headlines for the performance of the GALA token.
The digital currency is used for transactions between gamers in the Gala Games microcosm.
Gala’s trading volume has exploded with +495% (992 million) in a single day, and more importantly, this was not a one-off but rather the token continues to appreciate.
At the moment, Gala is worth €0.04408789 with a trading volume of €675,072,751 while the market cap is €281,829,412.
Over the last week, in confirmation of the trend, the value of the currency has grown by 25.85% and has made a +4% since yesterday alone.
There are 6,977,205,436 GALA currently in circulation.
Gala Games and Hollywood actor Dwayne Johnson, with a background as a wrestler in America using the stage name The Rock have entered into a partnership, and so has actor Mark Wahlberg for the production of two different films and promotion of the token.
Those who choose Gala Games will have the chance to scan a QR code to buy movie tickets and win prizes including Netflix subscriptions.
Satoru Kikugawa, CEO of Gala, had this to say about the recent acquisition in mobile games:
“Our recent acquisition is a major step forward in terms of our ability to test and explore various tactics in this area. Is it too much to think we’ve spared ourselves the equivalent of 15 years of development? Maybe I’m exaggerating but not too much. If you were to ask the team to develop 15 full games on mobile… it could take 9-12 months per game.”
Decentraland is the metaverse of the MANA token that is used within it to buy virtual land (land indeed) and services.
The value of Mana has exploded with +73.62% in this week alone, by 25.21% if we consider just from yesterday.
As of today the token has touched 0.65 euros but is down 88.02% from the all-time high of €5.45.
There are 1,855,084,191.78 MANA in circulation as of today, and prior to this performance the token had long been in a downward spiral.
Almost all of last year the Token’s RSI had been below 50 and the 30-day average had been below the 200-day average since spring.
In addition to correcting the oversold losses of last year, MANA is not only recovering quite well from the oversold losses of 2022 but is also gaining more than the average of the best-performing crypto assets in part perhaps due to recent developments.
Decentraland has implemented major upgrades that have helped recent performance and made it one of the best price action targets.
Among the most noticeable updates are the introduction of avatars and Facebook-style interaction and friend request capabilities.
The platform has also improved in terms of game fluidity and intuitiveness.
In addition to these upgrades, the company has expanded partnerships and is increasingly investing in the direction of security and metaverse, which is resulting in excellent performance of the token which is being chosen by ever more investors.