Play-To-Earn Altcoin Built on Ethereum Soars 309% After Coinbase Listing


A gaming altcoin built on top of the Ethereum network has witnessed a practically non-stop parabolic rise after its addition on the leading US-based crypto exchange Coinbase.

Coinbase added Gala (GALA) to its professional trading platform early last week and subsequently rolled out support for the altcoin on its retail trading platform on Wednesday.

Since Coinbase announced its initial support for the altcoin, GALA has soared from $0.11 to a fresh all-time high of $0.45 on Sunday – a 309% increase.

The coin is up 43% in the last 24 hours alone, at time of writing.

Gala is the core crypto asset of the Gala Games ecosystem.

It’s designed to power a plethora of games that allow players to earn rewards as well as buy and sell in-game items in the form of non-fungible tokens (NFTs).

The coin is a relative newcomer to the crypto space, having launched in September of 2020.

So far, the project has launched one playable game called Townstar, which is a competitive farming simulation game featuring player-owned NFTs. The game allows players to engage in various challenges to climb a weekly leaderboard and earn in-game rewards.

To date, Gala Games says its ecosystem has sold about 26,000 NFTs, with the most expensive NFT selling for $3 million.

Check Price Action

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Liu zishan





Source link