Gala has just announced the launch of a bridge that connects GalaChain with the Solana network, allowing users to transfer assets between the two platforms. The first token supported by this bridge is $TRUMP, which moves from Solana to GalaChain as $GTRUMP. This development marks an important step towards cross-chain interoperability.
However, despite the innovation, Gala is facing continuous bear pressure on its GALA token, partly due to high inflation and an increasing supply in the market.
Summary
Gala promotes interoperability and launches a bridge for Solana
Gala expands its blockchain infrastructure with the launch of Solana Bridge, a solution that allows the direct transfer of assets between GalaChain and Solana. This integration enables users to freely move a wide range of tokens between the two networks, enhancing transaction accessibility and efficiency. Solana, known for its low fees and high speeds, represents a strategic access point for Gala, which aims to make its ecosystem more dynamic and connected.
With the bridge active, GalaChain users can leverage Solana’s DeFi applications and access a larger market without having to go through third-party platforms. This not only speeds up certain operations but also offers greater flexibility in managing digital assets. Gala, known for its thriving web3 gaming ecosystem, thus strengthens its commitment to decentralization and cross-chain connectivity.
Eric Schiermeyer, CEO of Gala, stated that the goal is to ensure freedom of movement for users, without limitations imposed by individual ecosystems. The bridge is a first step towards a more open infrastructure, where cryptocurrencies can circulate without constraints. We recall that Solana boasts a TVL of 6.83 billion dollars, offering users access to an ecosystem with high liquidity and expanding the possibilities for using their assets
$TRUMP the first token supported for the bridge: becomes $GTRUMP
$TRUMP is the first token to be supported by the Solana Bridge, allowing users to transfer it from the Solana network to GalaChain, where it will be received as $GTRUMP. Launched on January 18, 2025, $TRUMP is a memecoin based on Solana, inspired by the former president of the United States, Donald Trump. At the time of its debut, the token recorded exponential growth, reaching a market capitalization of nearly 15 billion dollars. However, the volatility triggered by speculators led to a rapid decline in the value of $TRUMP. After the initial excitement, the token experienced a significant decrease in price, dropping by about 85% from its highs.
Despite the decline, the inclusion of $TRUMP in the Solana Bridge represents an important step for GalaChain in expanding its cross-chain capabilities. Users can now transfer $TRUMP to GalaChain and benefit from the features offered in its gamified ecosystem. This initiative not only increases flexibility for token holders but also opens up new collaborative opportunities between the developers of the two platforms.
“`htmlIn addition to support for $TRUMP, Gala plans to extend the bridge to other assets in the future, further enhancing interoperability between networks and offering greater exchange opportunities. At the same time, the company is beta testing the Gala Wallet app, designed to facilitate the creation or connection of GalaChain wallets, unlocking additional features on the platform and improving the overall user experience.
“`Inflation stifles the price action of the crypto GALA
GALA, the native token of the homonymous cryptographic ecosystem, does not seem to be experiencing a good moment at a speculative level. In a historical period already complicated for altcoin, GALA records a price action completely oriented to the downside. In the last 12 weeks of trading, it has marked 10 strong bear sessions with only two in slight recovery trend. In particular, since December 2024, the coin has lost 70% of its valuations, causing its market capitalization to collapse to 668 million dollars
From its all-time high of 201, GALA loses over 97% of its value, reflecting the low utility in the asset and the little interest from crypto investors. At this moment, the token is trading well below the weekly EMA 50 and is approaching new local lows, challenging the support created in Q3 of last year. GALA may attempt a bullish restart as soon as it returns above the 0.05 dollar level, which is far from the current values.
One of the factors that has most influenced GALA’s negative performance is the high inflation threshold of the currency. Despite Gala having launched a burning mechanism to increase the flow of new buyers, the new supply introduced to the market far exceeds this incentive. Consequently, we find ourselves with an increasing circulating supply, ready to be sold on the market, contributing to the increase in selling pressure.
Many tokens like GALA suffer from excessive inflation, which prevents sustainable growth in the long term. All this discourages investors from holding the token for a long time, as they fear that the value will depreciate further with the increase in available supply.
