Gala was leading the metaverse rebellion on Tuesday, outpacing leaders MANA and SAND to grab the first spot in terms of percentage gains. The play-to-earn token was enjoying the crypto-spotlight as investments poured in from Ethereum Whales amid collaborations with BT and rapper Snoop Dogg.
Data from WhaleStats showed that Gala featured in the top 10 coins held by the top 1000 Ethereum Whales. The average dollar amount held per wallet was around $214,000. Interestingly, Gala was the second metaverse coin to feature in the said list, alongside MANA.
Ethereum Whales have been hungry for metaverse tokens amid a strong period of developmental activity. For instance, MANA has maintained its position among the top Ethereum wallets as it became the only metaverse token to be a part of 21Shares’ ETP offerings. The platform Decentraland also made headlines last week after Samsung’s Galaxy S22 also featured in its virtual space. Meanwhile, The Sandbox was in the news after Italian luxury house Gucci bought a virtual plot of land.
Gala Showboats
Meanwhile, Gala laid down the laws for its success after partnering with musician BT in a project called “The Orbs“. The project is a collection of music, art, and NFT’s which are to be sold through a reverse auction process at a base price of 11.11 ETH.
Furthermore, Grammy winner Snoop Dogg directed attention to Gala after releasing his new album, B.O.D.R, on the Gala blockchain on February 11. He added, “Blockchain tech has the power to change everything again and tip the table in favor of the artists and the fans, and we’re going to be right at the front of the pack with this Gala Music deal.”
Gala 4-hour Time Frame
As per LunarCrush, Gala was having a field day on social media platforms. The project’s weekly social dominance and volumes were up by 55% and 82%, respectively as users jumped on the bandwagon.
A bull flag breakout was active on the daily chart as GALA eyed a return to $0.40. A quick technical analysis revealed that the price had the potential for another 15% surge before a correction, helped by an RSI which eyed its second leg forward. At the time of writing, GALA traded at $0.340, up by 20% over the last 24 hours.