Gala Games token surges ahead of a big ecosystem news

The Gala Games token continued its recovery this week as demand for gaming cryptocurrencies increased again.

Gala (GALA) jumped to $0.0217, its highest point since Aug. 27 and is 61% above its yearly low. The recovery has pushed its market cap above $859 million.

Gala’s recovery was accompanied by the rise of other gaming tokens such as Immutable X (IMX), Beam (BEAM), and Ronin (RON). All of these coins are up more than 20% in the last seven days. As a result, the total market value of all gaming tokens tracked by CoinGecko has reached over $17.16 billion.

Gala’s rise is also linked to a recent post on X, where the developers hinted at a major announcement expected this week.

It is too early to predict the nature of the announcement, but based on past statements, there are indications that it may include the launch of TREZ, an upcoming token for Gala’s tap-to-earn ecosystem.

Developers announced earlier this year that the tapping ecosystem for games such as GALACoin, Music Coin, and Treasure Tapper has reached more than 3 million users.

Telegram’s tap-to-win games have become quite popular among users, and Gala hopes to become a major player in this space. Many of the existing games, such as Hamster Kombat, Notcoin, Catizen, and Avecoin, have chosen to run on the TON Blockchain developed by Telegram.

Tap-to-earn networks allow users to accumulate tokens by tapping a button on a mini app or completing simple tasks like following an X account or watching YouTube videos.

Users accumulate tokens and can cash out when an airdrop occurs. Networks like Catizen and Notcoin have already launched airdrops with tokens worth $300 million and $786 million respectively.

Gala token hits major resistance Gala Games token | Chart by TradingView

The Gala token bottomed at $0.0134 in August and has since rebounded over 60% to $0.021. It recently broke above the 50-day moving average and retested the key resistance at $0.021, its highest swing since August 25, and the neckline of the double bottom pattern.

The Relative Strength Index and moving average convergence/divergence indicators continue to rise, i.e. are gaining momentum.

Hence, Gala is likely to continue its rally as the bulls target the next key resistance at $0.027, the high reached on July 21.