The gaming token GALA has seen an 86% increase and is currently trading at $0.039 at the time of writing
The GALA token that powers the eponymous gaming ecosystem, has seen a rise of 86% in a day. The token is currently trading between a narrow range of $0.02—$0.03 but if the rising volumes are any indication, a strong surge for GALA cannot be ruled out. The $0.03 region is a zone of strong resistance and GALA needs to break out above this barrier to reach higher highs.
How & where to buy Gala in the UK and elsewhere
Buying cryptocurrencies is no longer a difficult task. There are many broker/exchange platforms where you can buy tokens easily and securely. However, ensure you carry out due diligence before selecting a site. The decentralised exchanges must be avoided as these are not regulated.
Registering on a platform is easy and all you need to do is provide a username, password and contact details. There is an additional procedure known as Know Your Customer (KYC) which requires you to provide documentation to prove your identity and address. A passport and utility bill are accepted as proof of identity and address respectively. For your benefit, we have shortlisted two of the best platforms where you can trade with ease.
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Binance has grown exponentially since it was founded in 2017 and is now one of, if not the biggest cryptocurrency exchanges on the market.
What is Gala and why is it rallying?
The Gala coin is the native token of a gaming ecosystem. Unlike other blockchain games that are centralised, Gala is a completely decentralised network and allows users to act as nodes. The users holding GALA tokens are also allowed to vote on governance matters and also get to decide which new games to list on the network. All major decisions are decentralised and decided by the community. The in-game merchandise and NFTs can also be won by the users who can then trade these assets for a profit.
GALA is being listed on Binance today and perhaps this is why the token is seeing a strong price spike.
Should I buy GALA today?
GALA is a direct competitor to other popular games such as Meme Lordz, Axie Infinity and Binamon. All these tokens have done well even before a full-scale launch but the gaming industry is huge and there is a lot of room for GALA to attract new users. GALA’s decision to ensure full decentralisation is unheard of in the gaming sector.
The token’s entry price is still low and early holders could be looking at handsome returns in the future.
This article is informational only—none of the contents should be construed as financial or investment advice.