Gala Games and Animoca Brands on Wednesday announced a major collaboration to boost GALA token experience for users. Game software company and venture capital firm Animoca Brands will facilitate orderly trading of the GALA token, one of the best gaming tokens, and plans to become a GalaChain validator in the future. Traders reacted immediately to the announcement bringing a rebound in GALA price.
Two big companies in crypto Animoca Brands and Gala Games have joined hands to work on many developments for GALA token, as per the announcement on the X platform on July 3. This includes providing liquidity provisioning services and fostering stable trading of GALA tokens in the crypto market.
Gala Games said Animoca Brands will receive GALA tokens from Gala’s Treasury to offer liquidity provisioning services to Gala Games, which will help enable trading in an orderly way. The announcement has sparked curiosity in the community of gamers and NFT enthusiasts.
In addition, Animoca Brands also plans to become a GalaChain validator, with the exact timeline still unclear. The company is already an operator of nine Gala Founder’s Nodes. Gala Games is entirely dedicated to decentralizing the multi-billion dollar gaming industry by various means including decentralized video games and giving players access to their in-game items.
Also Read: Spot Ethereum ETFs to Go Live on July 15, ETH Bull Run Ahead?
Traders responded immediately to the announcement, bringing a rebound in GALA price. The tokens fell over 4% in the last 24 hours amid a broader crypto market selloff.
At press time, GALA price is trading at $0.02625. The 24-hour low and high are $0.02596 and $0.02796, respectively. Moreover, the trading volume has increased by 38% in the past 24 hours, indicating a rise in interest among traders.
In the derivatives market, traders are buying GALA futures again after a 5% fall in open interest in the last 24 hours. As per CoinGlass data, the total GALA futures open interest has increased to 2.35 billion after the recent interest.
Also Read: Bybit Exchange Unveils Support For ASI Alliance, Will FET Rebound?
The CLARITY Act is entering its decisive legislative period. Policymakers and industry leaders are waiting…
A newly published Messari Pulse report documents early adoption across Bitget's trading stack, revealing a…
XRP is showing signs of supply shock on major crypto exchanges amid recent demand from…
Prominent on-chain investigator ZachXBT slams Sam Altman’s Worldcoin (now World) and compares its practices with…
The latest Bitcoin price recovery has sparked anticipation of $250,000 among some in the crypto…
U.S. Representative Nick Begich has revealed plans to reintroduce his Strategic Bitcoin Reserve bill under…