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.
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Featured Image: Shutterstock/Liu zishan