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Gala (GALA) continues free fall as hopes for quick rebound shrink – price analysis and prediction

After ranking as one of the top performers of the year in 2021, Gala (GALA), one of the most popular gaming tokens in the market, has quite literally collapsed. The price action has largely been on free fall over the last few weeks, and any hopes of a quick rebound appear slim at best. Here are some notable highlights:

  • At the time of writing, GALA was trading at $0.2825, the lowest it has been over the last three months.

  • The token is also nearly 70% down from its all-time highs in 2021, following in the steps of other gaming tokens that are on the red.

  • There is serious investor concern about the potential growth of play to earn games in the long run.

Data Source: Tradingview.com 

Gala (GALA) – price prediction and analysis

Gala (GALA) was developed to become a disruptive blockchain project in the gaming world. So far, even with the current price slump, it has done quite well, returning over 4000% in profits in 2021. 

But it seems like investor appetite towards play-to-earn tokens is hampering. In fact, GALA follows other gaming coins like Enjin, Sandbox, Decentraland, and Axie Infinity in decline. 

Right now, GALA is well below the 25- and 50-day moving averages and has been for quite some time, suggesting a sustained bearish trend. We see the token dropping below $0.25 in the coming days.

Should you buy Gala (GALA)

There is always this argument that some tokens, especially in the metaverse and NFT space, are overpriced due to investor hype. This is very true for GALA. A good rule would be to wait until the price goes through a correction of sorts and buy then. A dip below $0.2, which appears imminent, offers the perfect entry point for investors who want to add GALA into their portfolio.

The post Gala (GALA) continues free fall as hopes for quick rebound shrink – price analysis and prediction appeared first on Coin Journal.

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Handelsvolumen von GARI-Token am 1. Handelstag bei über 100 Mio. USD

Der soziale Token der mobilen Video-Sharing-App Chingari wurde am Dienstag für internationale Händler verfügbar gemacht.

Das in Indien ansässige Unternehmen für Kurzvideo-Apps Chingari stellte Anfang dieser Woche seinen nativen Token GARI auf der internationalen Bühne vor. Der Token stieß am ersten Tag schnell auf Interesse von Millionen von Menschen, wobei das Handelsvolumen laut einer Ankündigung von Chingari innerhalb weniger Stunden 100 Millionen USD in den Schatten stellte.

Chingari startete GARI im vergangenen Oktober als Teil der Bemühungen, ein Kryptowährungselement in die Welt der digitalen Inhaltserstellung zu integrieren. Der bekannte Schauspieler, Produzent und TV-Star Salman Khan fungierte während der Markteinführung als Botschafter der Marke. Im Dezember gab Chingari seine Startpläne für das erste DEX-Angebot auf SolRazr bekannt.

Den Markt im Sturm erobern

Diese Woche kam der Token gleichzeitig auf mehr als 10 (sechs davon weltweit) Krypto-Handelsplattformen an, darunter KuCoin, FTX, Huobi Global, Gate.io und OKEx. Die anderen zentralisierten Börsen sind Bitbns, BTXEC, CoinW, BitMart, Hotbit, LATOKEN und Zebpay.

Insbesondere nahm OKEx an Chingaris erweiterter Finanzierungsrunde der Serie A teil, die als strategischer Investor 15 Millionen USD einbrachte. An der von Republic Capital geleiteten Mittelbeschaffung waren auch JPIN Venture Catalysts, Hill Harbor und das Telekommunikationsunternehmen Onmobile beteiligt.

Chingari wurde 2018 gegründet und wurde erst kürzlich zu einer beliebten Videoanwendung, nachdem Indien das in China gegründete videofokussierte soziale Netzwerk TikTok verboten hatte. Das Verbot, kombiniert mit Chingaris anreizorientiertem Modell und seiner Offenheit, trug dazu bei, die Anwendung als idealen Ersatz zu etablieren.

Unter dem Namen „indisches TikTok“ wurde es letztes Jahr zu „Indiens Top-Anwendung im Google Play Store“. Die Video-App wurde mehr als 110 Millionen Mal heruntergeladen und hat eine geschätzte aktive Nutzerbasis von 35 Millionen. Im vergangenen April gab Chingari bekannt, dass es eine 13-Millionen-Dollar-Pre-Series-A-Runde abgeschlossen hatte, wodurch die gesammelten Mittel auf 28 Millionen USD anstiegen.

GARI kommt Erstellern und anderen Chingari-Benutzern zugute

GARI hat einen begrenzten Vorrat von 1.000.000.000 Token, von denen sich 45.800.000 in einem selbst gemeldeten Umlaufbestand gemäß Coinmarketcap befinden. Chingari beabsichtigt, den Token als eine Form der Monetarisierung in die App zu integrieren, damit Benutzer den Erstellern nahtlos Trinkgeld geben können.

„GARI wird es 30 Millionen monatlich aktiven Benutzern der Chingari-Kurzvideo-App ermöglichen, in die Chain zu gelangen. Zum ersten Mal in der Geschichte der Blockchain wird eine App Millionen von Benutzern in die Chain integrieren“, sagte der Chief Executive und Co- Gründer Sumit Ghosh in einer Pressemitteilung, die mit CoinTelegraph geteilt wurde.

Ersteller von Inhalten auf der Plattform werden als Anreiz auch mit GARI-Token belohnt. Bemerkenswert ist, dass GARI Indiens allererster sozialer Krypto-Token ist, der für den Handel auf globalen Plattformen verfügbar ist.

The post Handelsvolumen von GARI-Token am 1. Handelstag bei über 100 Mio. USD appeared first on BitcoinMag.de.

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Sandbox (SAND) is approaching a key support zone – Can it reverse the downward trend?

The general outlook on Sandbox (SAND) over the last few weeks has been bearish. The metaverse token is now approaching a crucial support point in its price action. What happens from there will determine how it fairs in the near term. But can Sandbox (SAND) break the downtrend? The analysis is below but first, some highlight:

  • Sandbox (SAND) is rapidly sliding down to its support zone of $4.2 after a bearish start to the year.

  • This support level has however held strong after being tested twice before but bear pressure is very high.

  • At the time of writing, the token was trading for $4.31, slightly above this zone and up around 2.5% in 24 hours.

Data Source: Trading view

Sandbox (SAND) – Price action and analysis

Like most coins in the crypto market, Sandbox (SAND) has seen a consistent decline for most parts of the year. The coin is in fact trading 15% lower compared to seven days ago albeit it has managed to pair up some of those losses with a 2% intraday gain. 

However, the downtrend has sent SAND towards its crucial support of $4.2. The support has been tested twice before this year and held strong. But if SAND fails to hold off the downtrend this time and falls below the $4.2 mark, the coin could tumble even further towards $3.3 and eventually $2.8. 

But, if bulls can hold off the pressure and maintain gains above that threshold, a quick rebound towards $4.6 is quite feasible in the near term.

Should you buy Sandbox (SAND)

Yes, Sandbox (SAND) is one of the most popular tokens right now due to the anticipation of the metaverse. The token was also one of the big performers in 2021, and despite the rocky start into the new year, long-term Sandbox (SAND) will still deliver incredible value to investors. It is therefore a decent buy right now.

The post Sandbox (SAND) is approaching a key support zone – Can it reverse the downward trend? appeared first on Coin Journal.

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Here are three reasons behind the recent Propy (PRO) price surge

The price of Propy (PROP) token saw an astronomical rise between January 10 and January 18, before going into the current pullback that is small compared to the kind of surge the token made.

Propy (PROP) token is the native token of the Propy protocol, a protocol that integrates blockchain technology with the real estate sector by automating the whole process of home buying to make it simpler, secure, and faster.

In the course of 2021, Non-Fungible Tokens (NFTs) had gained popularity through digital images like the CryptoPunks and Bored Ape Yacht Club. However, Propy is determined to expand the functionality of the NFTs past the digital art space into the real estate NFTs.

Why the surge in Propy price?

The recent Propy price surge was a result of the growing potential of NFTs for use in different cases, its token listing on Coinbase exchange, and the first sale of the real estate NFT.

The Coinbase listing

The price surge of the PRO token on 14th Jan was mainly contributed by the listing of the second largest cryptocurrency exchange globally by volume, Coinbase which serves US-based investors.

Before Coinbase listing, the PRO token was only available on a few exchanges like the Bitrue, Huobi Global, and decentralized exchange Uniswap.

The first real estate NFT in the U.S.

The upcoming sale of the first real estate NFT in the U.S has been the second development that boosted the trading volume and the price of PRO.

According to Propy founder and CEO Natalia Karayaneva, the reason behind choosing Florida as its U.S-based real estate sale is the growing market and the 0% state individual income tax policy, positive future price growth and demographic statistics, and a crypto-friendly state government.

As they make their first real estate sale in Tampa U.S, TechCrunch founder, Michael Arrington, already sold his Kyiv apartment for 36 Ether back in 2017, which was Propy’s first-ever NFT sale.

The rising popularity of NFTs and blockchain technology

The overall growth in awareness in blockchain technology and the NFTs has also been another reason behind Propy building momentum.

Last year NFT interest and trading volume increased public awareness of integrating NFTs with corporate contracts and houses which has been a topic of discussion for years.

Real estate has been preferred as a safe haven for investors who are looking for a secure place to store their wealth.

With the integration of blockchain technology and NFTs, the process of buying and holding real estate will soon enter the 21st century since the middlemen will be limited lowering the cost of the whole process.

The post Here are three reasons behind the recent Propy (PRO) price surge appeared first on Coin Journal.

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Here is the reason behind the current Terra (LUNA) bullish trajectory

Terra (LUNA), a blockchain protocol that uses fiat-pegged stablecoins to influence the price of stable global payments systems, has surged by 4.78% in the last 24 hours.

LUNA is currently the fourth largest stablecoin in the market.

It is currently trading at $82.69 with a 24-hour trading volume of $1.6 million.

Why the bullish momentum.

The current Terra (LUNA) bullish trajectory is associated with the latest news about the unveiling of the LUNA Foundation Guard (LFG), whose main objective is to sustain and support open-source technology.

From Terraform Labs, the LUNA Foundation Guard secured an initial gift allocation of 50 million LUNA tokens.

The Co-Founder and CEO of Terraform Lab, Do Kwon said:

“The LFG mandate to continuously support the peg stability of Terra’s stablecoins and ecosystem development powered by Terra’s best builders offers a new pathway for the growth and sustainability of decentralized money. A decentralized economy needs decentralized money, and LFG provides another nexus of resources to achieve that goal”.

The LFG will focus on fund allocation to the development of the Terra ecosystem and also safeguarding the UST peg in volatile market conditions and building reserves

Marketing the Terra economy

To market and boost the Terra economy LFG will fund the Defi projects that have a high demand for the Terra algorithm stablecoins as they pioneer the emerging decentralized finance solutions.

LFG will also be focusing on the sustainability and the peg stability of the Terra native stablecoin Terra USD (UST) under the international council which will be adding a new builder in the Terra Ecosystem.

Regarding this development, the founder of Chromos, Nicholas Platias said:

‘’LFG’s mission is going to reshape how the industry views algorithmic stablecoins and their long-term sustainability. The LFG offers another lever for closing the demand loop of Terra stablecoins, building a vibrant economy around their usage across Web 3 applications, and providing more robust peg defenses during volatility’’.

Terra LUNA has tirelessly worked its way through to the top ten crypto list and is currently ranked 9th according to data from Coinmarketcap.

The post Here is the reason behind the current Terra (LUNA) bullish trajectory appeared first on Coin Journal.