A week has passed since a massive transaction involving 10.2 million GALA tokens was noticed on the blockchain ledger. These tokens, sources revealed, were drawn from several distinguished allocations. The Team, Foundation, Marketing, and Growth Allocation were the major contributors to this significant transfer. The intriguing aspect is that these funds swiftly reached the Initial Treasury wallet post-claim.
The prominent crypto market data provider Token Unlocks shared a Twitter post providing the current unlocking status of the GALA tokens:
🔎 On-chain Claimed Alert 🔎
— Token Unlocks (@Token_Unlocks) August 12, 2023
One week ago, 10.2M $GAL were claimed from various allocations
Team, Foundation, Marketing, and Growth Allocation had claimed then transfer to Initial Treasury wallethttps://t.co/qUNQ2OaKp0
The Community is separated athttps://t.co/i9VRq7omlB pic.twitter.com/mpmemcc3Z8
Such a large-scale movement of funds typically garners interest within the crypto community. Every transaction tells a story, and this particular one signifies a strategic shift or a potential new investment phase for the GALA project. Moving funds to the Initial Treasury has historically indicated plans for future expansions, project developments, or other foundational endeavors. While the exact motive remains a subject of speculation, it’s undeniable that this action has sparked considerable discussion among stakeholders.
The chronology of events began with the claim, followed by an almost immediate transfer. The future of the GALA project has piqued everyone’s curiosity. As the crypto world keeps its eyes peeled, investors and enthusiasts need to remain updated and engaged with the project’s official channels.
The most recent GALA price analysis is bullish, as today’s data indicates a modest price increase. The price remains above the $0.02300 threshold, indicating that the purchasing pressure is still quite intense. At the time of writing, GALA is trading at 0.023138 USD, representing a 1.66% increase over the previous 24 hours.
The favorable trend is anticipated to continue in the near future as a growing number of investors are attracted to the cryptocurrency’s high potential. The cryptocurrency’s resistance level is currently at $0.0232, which is currently intraday high. The support level is at $0.02273, which is considered the lower end of its current range. If GALA could break above the resistance level, it could potentially reach a new all-time high in the near future.
The current circulating supply of GALA is 22,779,545,434. The market capitalization has increased slightly over the past twenty-four hours and presently stands at $527 million, ranking 71st by market cap. However, the trading volume of the cryptocurrency has decreased slightly over the past twenty-four hours and lies at $45,218,024 at present.
The hourly technical indicator for GALA is currently in a bullish direction. The short-term moving averages, such as the 50 SMA and 200 SMA, have crossed over each other, signaling an uptrend potential. Moreover, the MACD is currently in bullish momentum, with the MACD line trading above the signal line. Similarly, RSI is well above 50 following a breakout from its long-term bearish trend. This indicates that the current market sentiment for GALA is bullish.
To conclude, GALA is positive in the short term as the technical indicators suggest bullish market momentum. As GALA continues to garner investment attention potential new highs could be on the horizon for this cryptocurrency. With a strong team and ever-growing user base, GALA has all the makings of a future success story.
