Gala Price Up 16% After Token Enters Top 10 Purchase List | Sell & Buy Analysis Indicates Sell Pressure

March 30, 2022 1 min read

GALA’s story of diminishing returns

Since peaking at $8.48 in late November last year, The Sandbox has fallen more than 200%. At press time, the token was trading for just $2.7.

GALA was also worth $0.21 at press time, down 290% from its peak of $0.84, which it reached along with SAND in November last year.

In/Out of the Money – GALA || Source: ITB

As a result of declining yields, the number of addresses that are in profit has decreased significantly over time. ITB’s data brought to light that only 21% of GALA addresses were “in the money” while nearly 70% of them were “out of the money” and the remainder were in a “no-loss-no-gain” status.

GALA has become one of the top coins preferred by the biggest Ethereum (ETH) whales. According to WhaleStats, the Gala token has made into the top 10 coins purchased by the 100 largest wallets in the last 24 hours. Accumulation by whales has led the coin to register a surge of over 141% in its 24-hour trading volume.

ETH whales accumulate GALA

The top 100 Ethereum wallets are worth an average of $1.88 billion and have an average of 154,585 ETH, 224 tokens, and 4 NFT.

As per WhaleStats, GALA is ranked at the sixth position among the top 10 coins purchased by the ETH whales in the last 24 hours. While The coin has also made it to the list of 10 biggest coins bought by the same wallets in the last 7 days. It is positioned at the eighth spot.

GALA holdings by Eth Whales — Source: WhaleStats

Earlier, an Ethereum whale added $8.82 million worth of 29,999,999 Gala tokens, reports WhaleStats. Meanwhile, as we dig in, it looks like the biggest wallets are buying and selling the Coin equally. GALA coins can also be seen in both lists of the top 10 sold tokens in the last 24 hours and 7 days.

The largest of the ETH wallets holds over $50 million worth of GALA coins which makes just 0.52% of the total holdings excluding ETH. However, the FTX token is the largest coin held by the whales. They own over $1.85 billion worth of FTX coins which makes 19.36% of the total holdings.

GALA prices jumps by 16%

The GALA has registered an explosive surge of over 16% in the last 24 hours. While its 24-hour trading volume of $940,534,234 has surged by over 140%. The coin is trading at an average price of $0.288, at the press time. According to CoinMarketCap, GALA is placed at the 58th spot with a total market capitalization of over $2.01 billion.

Gala-price-stats — Source: CoinMarketCap

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