Crypto Banter- FTX HAS RECOVERED $7.3 BLN IN ASSETS ( THANKS TO BTC PULLING A 2x SINCE THEIR BANKRUPTCY ) FTX WILL CONSIDER RE-STARTING IN Q2 2023
- Exchange would require significant amount of cash, lawyer says
- Discussions about exchange restart are still in early stages
FTX may use money marked to repay customers to restart its failed crypto exchange because the project would require a significant amount of cash, a lawyer for the company said in court Wednesday.
The company is still in the early stages of deciding whether to bring back the exchange, which allowed customers to trade digital assets before FTX collapsed, Andrew G. Dietderich, an FTX attorney with law firm Sullivan & Cromwell told US Bankruptcy Judge John T. Dorsey.
“There are as many opinions on this as there are professionals in this case, and that’s a lot,” Dietderich said.
The original FTX trading app was a “facade” that was more like a video game than a professional, properly functioning exchange, Dietderich said in court.
Funds needed to restart the exchange could come from third parties willing to invest in the project, or FTX could use some of the $7.3 billion worth of cash, crypto and other assets it has so far collected, he said. That money is being held until FTX wins final court approval for a creditor payout plan, something that is unlikely until next year, Dietderich said.
The case is FTX Trading Ltd., 22-11068, U.S. Bankruptcy Court for the District of Delaware.
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It would be bigger surprise for Crypto world if FTX comes back to life. About $7.3 billion worth of amount has already been recovered. FTT token is up 100% today. If LUNA also comes back, that would help improve the Crypto investors confidence. Please let us know what you think of it.
OPEN > LIKE > COMMENTApr 12, 2023 Crypto Banter Key Takeaways:
- Ethereum Shanghai Upgrade right around the corner: The date is set for April 12, 10:27 pm (UTC), at epoch 194048.
- This is the biggest development to happen to the largest smart contract platform in the crypto industry since the Ethereum Merge that took place last year.
- In the latest news, just a day after the Shanghai Upgrade went live on the third and final Goerli testnet, the final date for the Shanghai Capella Upgrade on the Ethereum mainnet was announced at the #157 Ethereum ACDE (All Core Developers Execution) Call that happened on March 16.
- The date for the final execution of the Shanghai Upgrade on the Ethereum mainnet has been pushed back a month to April, thanks to delays during the Sepolia testnet execution but now has been finalized.
- The Shapella Upgrade went live on the third and final Goerli testnet early on March 15, Indian Standard Time.
Why is Ethereum Shanghai Upgrade Important?
Well, it is important due to several reasons and I will list them for you below. However, it must be noted that these are calculated assumptions made with the available data. We will keep this section updated as we get more information regarding the upgrade.
Gas fees: One of the biggest things that the Ethereum Shanghai Upgrade is expected to bring about is to reduce gas fees for layer-2 solutions running on top of Ethereum, for example, Polygon, Optimism, and the like. These Layer 2 solutions make using Ethereum faster and cheaper and this upgrade could potentially make it even cheaper to transact on the Ethereum blockchain.
Withdrawal of staked ETH tokens: So ahead of the Ethereum Merge, all those who were interested to become a validator in the new PoS Ethereum Beacon chain, had to stake a certain amount of ETH to a deposit smart contract which was locked in with the contract even after the Merge happened. But now with the Shanghai Upgrade, we may see the lock-in be released and those who had staked their ETH tokens may be able to unstake them.
Updates to smart contract facilities: This is another important update that can be expected out of the Shanghai Upgrade. Ethereum being the single largest smart contract-capable blockchain network has to stay ahead in terms of development.
How will Ethereum Shanghai Upgrade affect ETH prices?
Continuing from the above thought – if you are a trader or an investor in the ETH token, the story changes a little bit. While it cannot be said for certain, the implementation of EIP-4895 could have certain ramifications on the price of the token. This is because according to data from Staking Rewards, 14.09% of all eligible ETH tokens have been staked. Thus when staking withdrawals are opened up, this could amount to significant liquidity flooding back into the open market, putting some downward pressure on ETH prices. However, that is assuming that the entirety of the ETH tokens are immediately pulled out and sold off – which in retrospect seems highly unlikely. Thus, for traders and investors, keeping a vigilant eye on the percentage of ETH coins staked would be sound advice.
On the other hand, things could also move in the opposite direction as ETH could become more attractive to users due to its improved liquidity. Those who didn’t want to go via liquid staking protocols would now have a chance to directly stake ETH with Ethereum.
However, one overarching positive thing that can be taken out of this is that while locking up coins is a means to make the process more secure, it could be also looked at as a means of artificial control and thus a removal of that cap could bring about more balance and equilibrium in the market.
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Event of the day, Upgrade will happen today around 6:30PM EST timeApr 12, 2023 Crypto Banter While it may cause downside pressure in the short run, the Shanghai upgrade will be highly bullish for Ether’s price in the mid-to-long term, according to Vivek Raman.
While it may have some short-term negative impact on the price of Ether, the upcoming Shanghai upgrade will be highly bullish for Ethereum’s native token, as it will attract more capital to staking and increase the network’s security, according to Ethereum researcher Vivek Raman.
The Shanghai upgrade, scheduled for April 12, will allow network validators to withdraw funds that have been locked to secure the network since December 2020. The upgrade will complete the network’s transition to a proof-of-stake system, which started in October 2022 with the Merge.
Around 18 million ETH will be available for withdrawal following Shanghai. According to Raman, that may lead to some selling pressure on ETH’s price in the short term.
However, in the long run, the ability to unstake Ether will “de-risk the ETH investment in a tremendous way,” he pointed out. In particular, institutional investors that couldn’t get involved earlier in staking will feel more comfortable once ETH can be unstaked. More capital entering ETH staking will improve the Ethereum network in the long run.
“The more native proof-of-stake asset that’s staked, the higher the cost to attack the chain,” Raman pointed out.
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April 12th is very crucial date for ETH, Expecting lot of fluctuation of the price, I am planning to put some Limit orders at a Lower price, just to see if I can catch at the cheaper price. What is your strategy, Please OPEN, LIKE, COMMENT.Apr 11, 2023 Crypto Banter The Bitcoin and crypto markets have seen a strong weekly close. Bitcoin’s price moved straight up into the current key resistance at $28,600. After seven failed attempts, this puts the price once again just below the current key level that separates BTC from $30,000.
A powerful price move will also benefit the broader crypto market as the rotation in altcoins aka altcoin season has still failed to materialize. Bitcoin and crypto investors should therefore keep an eye on key macro data in the week ahead.
Bitcoin And Crypto Face These Key Events
After a quiet start to the week, one of the most important macro metrics for the financial markets is coming up on Wednesday, April 12, with the US Consumer Price Index (CPI). When the CPI data is released at 8:30 am EST, expect to see more volatility in the Bitcoin and crypto markets.
Investors will be evaluating whether the Federal Reserve can push through another rate hike or whether it will hit the pause button in the face of stronger-than-expected falling inflation combined with the latest US labor market data. The previous month’s CPI was 6.0% on a year-over-year (YoY) basis and 0.4% month-over-month (MoM).
In March, the expectations are for CPI YoY at 5.2% and 0.3% (MoM). A miss on expectations is likely to push the Bitcoin price lower as markets price in a higher probability of another Fed rate hike in May.
The CME’s FedWatch tool currently shows a 61% probability of a 0.25% rate hike in May. If expectations are met or even exceeded, Bitcoin is likely to head north.
Later that day, on Wednesday, the FOMC minutes will be released at 2:00 pm EST. The meeting minutes will reveal more details on the Fed’s projections and considerations for the latest interest rate decision. This makes Wednesday the most important day of the week.
On Thursday, April 13, both the US Producer Price Index (PPI) and initial jobless claims will be released at 8:30 am EST. The PPI MoM is forecasted to come in at 0.0% (previously -0.1%), while the core PPI MoM: is forecast to rise again to 0.3% (previously 0.0%).
Initial jobless claims are forecast at 216,000, and were previously 228,000. Already last week, the US labor market and ISM private sector purchasing managers index figures showed small cracks in the US economy, while (the lagging indicator) the US unemployment rate sent a mixed signal and marginally fell (from 3.6% to 3.5%).
On Friday, April 14 at 8:30 am, the US retail sales will be released. March retail sales are expected to fall 0.5% MoM (previously -0.4%), while core retail sales are expected to fall 0.4% MoM (previously -0.1%). The data must be seen in the context of slowing economic growth momentum and fears of recession.
At press time, the BTC price was trading at $28,258. A daily or even weekly close of Bitcoin above $28,600 would be extremely bullish.
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What do you think about the direction the Crypto going to take this month. I feel its time for DCA and by October 2023, overall sentiment will be more positive and Crypto will start bouncing back. Please share your thoughts and opinion
OPEN + LIKE + COMMENTApr 10, 2023 Crypto Banter The business intelligence company has purchased 6,455 BTC over the last few weeks
MicroStrategy is continuing to scoop up bitcoin, spending $29.3 million at an average price of $28,016 per bitcoin since March 24.
The company or its subsidiaries now owns 140,000 bitcoins (BTC) as of April 4, according to an SEC filing.
This isn’t a novel purchase. MicroStrategy bought 6,455 BTC over the last few weeks, and has built up its position from approximately 131,000 BTC in December 2022 to 140,000 today.
In March 2022, now-defunct bank Silvergate issued a $205 million loan to Microstrategy, which in part went to fund purchases of bitcoin. The loan, set to mature in March 2025, was paid off early, following the bank’s collapse.
Wednesday’s SEC filing also said that MicroStrategy’s bitcoin pile is worth about $4.17 billion with “an average purchase price of approximately $29,803 per bitcoin, inclusive of fees and expenses.”
MicroStrategy’s shares (MSTR) dipped after the release of the filing, decreasing roughly 3%. Though, other business analytics companies and bitcoin itself were also in the red this morning.
The news of the latest round of crypto purchase also comes after co-founder Michael Saylor stepped down as CEO last year to focus on the company’s bitcoin acquisition strategy. The company is by far the largest corporate holder of BTC in the world, with more than 0.66% of Bitcoin’s total supply of 21 million bitcoins.
Blockworks reached out to MicroStrategy for comment.
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Dollar cost Average(DCA) is the best stratergy for any investor. Are you investing in BTC? Please share your opinion and views.
OPEN > SHARE > COMMENTApr 5, 2023 Crypto Banter Crypto Banter Crypto Banter Crypto Banter Monday’s SEC filing shows the company purchased 6,455 BTC over the past several weeks
MicroStrategy is on a spending spree. The business intelligence company shelled out millions in the past few weeks to scoop up an additional 6,455 BTC and pay off its loan from collapsed Silvergate Bank early, according to a regulatory filing Monday.
MicroStrategy has paid off its $205 million loan from Silvegate, which it took out in March 2022, making its final payment of $161 million earlier this month. The loan, set to mature in March 2025, was collateralized with around $820 million in bitcoin, regulatory filings show.
The news comes weeks after MicroStrategy told investors via Twitter that Silvergates’ “insolvency or bankruptcy” would not “accelerate” the loan.
MicroStrategy said in 2022 it would use the $205 million to purchase bitcoins and/or for “general corporate purposes.”
Monday’s SEC filing also shows the company purchased 6,455 BTC over the past several weeks “for approximately $150 million in cash, at an average price of approximately $23,238 per bitcoin, inclusive of fees and expenses.” Microstrategy now holds more than 130,000 BTC, totalling around $4.1 billion, the regulatory form adds. That makes MicroStrategy’s the largest corporate treasury of any public company, per BitcoinTreasuries.
MicroStrategy shares were relatively unchanged in pre-market trading following the regulatory filing Monday, losing less than 0.1%. The company’s stock has had an explosive first quarter, gaining nearly 80% since the start of 2023.
Last week, however, shares dipped about 9% as concerns about the company’s ties to Silvergate grew. Analysts surveyed by MarketBeat still give MSTR a hold rating, with a price target of $294. MSTR closed Friday’s trading session at $256.67.
Reports of insider buying – independent director Carl Rickertsen allegedly bought $608,000 in shares over the past 12 months – may have fueled the recent rally in the past few months and drive future price moves.
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What does MicroStrategy actually do?
It is essentially a business intelligence software supporting interactive dashboards, high-end formatting in reports, scorecards, and several other features relating to the generation, sorting, and distribution of reports that provide insights into past, present, and future business trends.
I feel this will make MicroStrategy a super power or _______, depending on how Bitcoin performs in future. Good luck Michael Saylor👍👍
Friends, Please share you thoughts and Opinion about BTC.
Please OPEN>Like and share your valuable comments. You have to Open the Post to create an Impression.Mar 28, 2023 Crypto Banter Dogecoin (DOGE), the world’s largest meme cryptocurrency, is set to receive a significant upgrade to make the popular blockchain more interoperable and user-friendly.
Recently, Michi Lumin, a Dogecoin core developer, tweeted about the upgrade, saying that “lib-dogecoin 0.1.2” had been released. He then noted that “this is a big one”, adding that it was a roll-up of the interim 0.1.1 dev release.
A roll-up is a scaling solution that allows multiple transactions to be processed off-chain and submitted to the blockchain as a single transaction, reducing gas fees and congestion on the network. It helps increase the transaction throughput of a network while improving its efficiency.
As per Lumin, this upgrade includes numerous fixes and enhancements, such as memory integrity checks, truncation fixes, length checks for edge cases, and Go and Python wrappers updates.
One of the most significant additions in this upgrade will be the support for BIP39 seed phrases, a feature that helps users generate mnemonic phrases to secure their private keys. Notably, this upgrade will help users, including non-devs, generate seed phrases in multiple languages, providing a user-friendly way to secure their assets.
Another notable enhancement is the introduction of QR code support, making it easier for users to share their addresses. According to Lumin, lib-dogecoin will enable users to “generate QR codes on the fly in text, jpeg, and png formats without any additional libraries needed.”
Furthermore, the upgrade will offer full support for BIP 32/44 and slips44 HD addressing standards which enhances security and organization by enabling Dogecoin to derive keys and addresses according to respective rules and generate child keys/addresses.
The upgrade will also introduce improved message and transaction signing capabilities. This will allow users to sign messages and transactions as well as verify them, improving network security. Finally, Dogecoin will also provide users with its so-called current “moon-phase Unicode”, enabling them to contribute to Dogecoin’s development.
That said, Lumin went on to note that they were “ALREADY working on all sorts of new inclusions for 0.1.3” asking users to keep watching. “lib-dogecoin will continue to do more and more while remaining ultra-lightweight and cross-compatible,” he said.
Meanwhile, as the Dogecoin project continues to evolve, it has continued to receive support from the community and more developers, notably among them, billionaire Elon Musk. Previously, Musk has stated that he would be working with Dogecoin engineers to “improve system transaction efficiency.” On another occasion, the Tesla boss solicited feedback from the public on ideas to enhance the cryptocurrency network asking them to submit ideas on Dogecoin’s Github and Reddit pages.
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Will this new features motivate ELON to accept Doge for Twitter Tips and Payments. What is ELON MUSK waiting on. I feel he will not disappoint DOGE Belivers. your thoughts and Opinions please. After declaring himself DOGE father, he can't keep calm on Doge for a long time.
Please OPEN>>LIKE and share your valuable Comments.Mar 28, 2023 Crypto Banter EOS, already a high-performance blockchain platform, has added a new feature called the EOS EVM (Ethereum Virtual Machine) that allows developers to build and deploy smart contracts written in Solidity, the programming language used by Ethereum.
Following the EOS EVM code completion on March 22, the next milestone towards the EOS EVM mainnet launch is the new testnet launch on Monday, March 27. The new testnet launch will have new additional capabilities that aren’t available on the currently deployed Jungle testnet version.
Here’s what to expect in the lead up to mainnet launch
Now that the code is complete, it is forwarded to the Sentnl firm for their second audit on EOS EVM. A new testnet version of EOS EVM will be deployed in parallel to the currently deployed Jungle Testnet 4 version in order to allow for seamless migration for developers without losing any of their data.
A trustless bridge will be used to bridge EOS tokens in and out from the EOS network to the EVM network. Initially this bridge will only support the native token EOS, but in future EVM iterations (upgrades) tokens from other blockchain ecosystems will likely be supported e.g. ERC-20 (Ethereum) tokens.
The new version of the EOS EVM will introduce, for the first time, the integration of EOS as the EVM’s gas token. Having EOS as the native token for paying fees will make payment processing on the EOS EVM mainnet much easier and efficient. This is because transactions on EOS EVM will be using EOS network resources such as RAM and CPU.
A gas model that introduces a new burn mechanism is likely to be implemented sometime in the later stages following the mainnet launch. The gas model would enable the ENF’s RPC node to generate revenue. Excess revenue generated from the resource costs would then be burned on a regular basis, which would help offset some of the token inflation from the EOS network.
Mainnet Beta launch
Finally, assuming that the security audit passes with no major issues, the EOS EVM beta will be launched on mainnet on April 14. Users will then be able to withdraw EOS tokens from an exchange and straight to their EVM account which they can create for free using the Metamask wallet.
However, the bridge will charge a small gas fee for incoming transactions to cover the EOS network resource costs. Again, there’s the possibility that excess fees collected by the ENF’s RPC node to cover resource costs for these transactions will be burned. There’s also the possibility that these excess funds could be used to fund incentives or further development of the EOS EVM.
The mainnet beta to be released on April 14 will be version 0.4 of the EOS EVM, with updates and improvements to be made in the weeks and months following the launch. Once complete EOS EVM will unlock the ability to seamlessly transfer value and data across multiple blockchain networks, which is crucial for the growth and adoption of EOS.\
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EOS stands for Electro-Optical System and is a popular open source blockchain based platform which can be used to host, develop and manage dApps (Decentralised Apps).
Is EOS better than Ethereum?
While Ethereum can currently process around 15 transactions per second, EOS is designed to handle millions of transactions per second. This is thanks to its unique Delegated Proof-of-Stake consensus mechanism, which allows it to process transactions much faster than Ethereum.
EOS Integration with EVM is most awaited milestone. I feel this will help more adoption of EOS blockchain considering its speed of processing, Low fees and No downtime. Please share your thoughts and Opinion. Our BBS is built on EOS BlockchainMar 27, 2023 Crypto Banter Crypto Banter Crypto Banter QUICK TAKE
- Fidelity Crypto finally is open to the public, giving millions of users access to bitcoin and ether investments.
- The firm’s retail product was previously available to users only via a waitlist. All waitlist users now have access.
- Bitcoin and ether transactions on the app are commission free. Fidelity Digital Assets will collect a spread of no more than 1%.
Fidelity Digital Assets quietly opened access to Fidelity Crypto for the masses recently.
Millions of users can now trade bitcoin and ether commission-free on the platform. The app was previously restricted to a waitlist, with users given access on a rolling basis. Fidelity Crypto is open to new and existing customers — first-time customers must create a Fidelity Brokerage account during the setup process. The service is not available in all states.
Bitcoin and ether are the two assets users can trade right now, and trading is commission-free. The firm will charge a spread of no more than 1%. Withdrawals haven't yet been enabled on the platform.
Fidelity, which 37.1 million total retail accounts, has acted sooner than most of its peers in the U.S. in offering crypto to retail clients. The full launch happened over the past few weeks, according to sources with knowledge of the matter.
The launch coincided with an increasingly hot regulatory environment in the U.S. and the collapse of two of crypto's biggest banking partners, Silvergate and Signature Bank.
The investment manager filed three U.S. trademark applications at the end of 2022. The applications included providing services in the metaverse and other virtual worlds.
What does Fidelity Investments do?
Fidelity Investments provide the financial planning, advice, and educational resources that investors and emerging investors need, including retirement planning, wealth management, brokerage services, college savings and more.
I feel this is a good move for Bitcoin, which gives access to millions of users.
SOURCEMar 15, 2023 Crypto Banter Crypto Banter $1.9 billion in BTC options are set to expire on Feb. 24, and bulls are well positioned to profit despite the Federal Reserve's intention to cool off the U.S. economy.
Bitcoin 6% price gain between Feb. 13 and Feb. 16 practically extinguished the bears' expectation for a monthly options expiry below $21,500. As a result of the abrupt rally, these bearish bets are unlikely to pay off, especially since the expiry occurs on Feb. 24. However, bulls were not counting on the strong price rejection at $25,200 on Feb. 21, and this reduces their odds of securing a $480 million profit in this month’s BTC options expiry.
Bitcoin investors' primary concern is a stricter monetary policy as the U.S. Federal Reserve increases interest rates and reduces its $8 trillion balance sheet. Feb. 22 minutes from the latest Federal Open Market Committee meeting showed that members were in consensus on the most recent 25 basis point rate hike and that the Fed is willing to continue raising rates as long as deemed necessary.
St. Louis Fed President James Bullard told CNBC on Feb. 22 that a more aggressive interest rate hike would give them a better chance to contain inflation. Bullard said:
"Let's be sharp now, let's get inflation under control in 2023."
If confirmed, the increased interest rate pace would be negative for risk assets, including Bitcoin, as it draws more profitability for fixed-income investments.
Even if the newsflow remains negative, bulls still can profit up to $480 million in Friday's monthly options expiry. However, bears can still significantly improve their situation by pushing the BTC price below $23,000.
Bears were not expecting Bitcoin to hold $22,000
The open interest for the Feb. 24 monthly options expiry is $1.91 billion, but the actual figure will be lower since bears expected prices below $23,000. Nevertheless, these traders were surprised as Bitcoin gained 13.5% between Feb. 15 and Feb. 16.
The 1.55 call-to-put ratio reflects the imbalance between the $1.16 billion call (buy) open interest and the $750 million put (sell) options. If Bitcoin's price remains near $24,000 at 8:00 am UTC on Feb. 24, only $125 million worth of these put (sell) options will be available. This difference happens because the right to sell Bitcoin at $22,000 or $23,000 is useless if BTC trades above that level on expiry.
Bulls aim for $23,000 to secure a $155 million profit
Below are the four most likely scenarios based on the current price action. The number of options contracts available on Feb. 17 for call (bull) and put (bear) instruments varies, depending on the expiry price. The imbalance favoring each side constitutes these theoretical profits:
- Between $22,500 and $23,000: 12,500 calls vs. 10,700 puts. The net result favors the call (bull) instruments by $40 million.
- Between $23,000 and $24,000: 16,200 calls vs. 7,600 puts. The net result favors the call (bull) instruments by $200 million.
- Between $24,000 and $24,500: 21,100 calls vs. 5,200 puts. Bulls increase their advantage to $385 million.
- Between $24,500 and $25,000: 23,200 calls vs. 3,600 puts. Bulls dominate by profiting $480 million.
This crude estimate considers the call options used in bullish bets and the put options exclusively in neutral-to-bearish trades. Even so, this oversimplification disregards more complex investment strategies.
For example, a trader could have sold a call option, effectively gaining inverse exposure to Bitcoin above a specific price, but unfortunately there's no easy way to estimate this effect.
The Fed's tightening policy is the bears’ best shot
Bitcoin bulls must push the price above $24,500 on Feb. 24 to secure a potential $480 million profit. On the other hand, the bears' best-case scenario requires a 3.5% price dump below $23,000 to minimize their losses.
Considering the negative pressure from the Fed's desire to weaken the economy and contain inflation, bears have good odds of improving their situation and settling with a $40 million loss on Feb. 24. This movement might not be successful, but it is the bears' only way out of multi-million losses on the BTC monthly options expiry.
Looking at a broader time frame, investors still believe the Fed is destined to reverse the current monetary policy in the second half of 2023 — possibly paving the way for a sustainable rally ahead of the April 2024 Bitcoin block reward halving.
Looks like range is from 22,500 to 25,000 game range for the bulls and bears. So plan accordingly.
SourceFeb 24, 2023 Crypto Banter Crypto Banter Crypto Banter Crypto whales are accumulating the gaming token GALA among other crypto tokens in preparation of a potential rally soon.
On Friday, the price of the most prominent cryptocurrencies, such as Bitcoin (BTC) and Ethereum (ETH), both fell by more than 4%, which caused a significant decrease in the market for digital assets worldwide. Despite this, on-chain data reveals top whales have been heavily accumulating the GALA gaming token even during the market meltdown.
GALA Records Massive Whale Activity
According to WhaleStats, a major whale activity tracker, GALA is one of the top five altcoins that large wallet holders are more interested in purchasing and collecting for the long term. In the past twenty-four hours, there has been a considerable accumulation of whales, which normally indicates that there is a prospect of an increase in price for the cryptocurrency as a result of the emergence of bullish technical signs or as a consequence of a significant event.
Following a precipitous 8.5% intraday decline that pushed the price of Gala down to $0.04, the cryptocurrency has remained relatively high for the last thirty days at 66%. The recent growth in popularity of crypto gaming, such as Axie Infinity and others, is likely to be a contributing factor in the price increase. And, not just GALA, but also a number of other game-based cryptocurrencies, such as Apecoin, ImmutableX and Sandbox, have all seen great growth in the past week as well as over the course of the past few months.
Rise In Crypto Gaming
Game producers, gamers, and investors now have more options thanks to Web3 and its cutting-edge blockchain applications. With Web3 gaming tokens, game designers can build unique digital goods, popularly known as NFTs, that players can acquire, trade and own. Since players can now possess physical assets that have value outside of the game itself, developers are using these tokens to open up a new channel for community participation and revenue inside the gaming industry.
Launched back in 2020, the decentralized environment of Gala Games enables players in giving them the control they rightfully feel they should have. Decentralization gives players the opportunity to have a voice in the development of the Gala Games road map, in addition to giving them ownership of the in-game things they have earned. As things currently stand, the price of Gala (GALA) moved to $0.044 at the time of composition. And, according to the crypto market tracker published by CoinMarketCap, this results in a growth of 2% over the past 24 hours, in contrast to a decline of 7.8% over the last seven days.
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GALA Tokenomics
GALA is slowly getting prominence and getting involved in multiple sectors in entertainment domain. Please share your thoughts and Opinions.Feb 10, 2023 Crypto Banter 
