GALA Token, the digital currency that operates within the crypto market, experienced a significant loss of more than 11% over the course of one week. Currently, it is trading at $0.02359, with a 24-hour trading volume of $56,400,986, positioning it as the 50th most traded token in the crypto industry. The token’s 24-hour trading volume has slipped by 4.71%, and its market capitalization has fallen by 3.29% within a day.
In terms of market cap ranking, GALA Token currently holds the 74th position. Sellers have dominated the market for the past three trading sessions, exerting consistent downward pressure on the token’s value. Throughout July 2023, the GALA token has largely remained stagnant, displaying only minor surges. Over a 52-week period, the token’s lowest trading price was $0.01542, while its highest traded price reached $0.07284. This represents a decrease of 38.67% in trading price over the quarter.
The all-time high price of GALA tokens was $0.8367, while the all-time low reached $0.000151. Looking ahead to 2023, market forecasts predict a high price of $0.042, an average price of $0.038, and a low price of $0.042. These projections indicate a slight increase in the value of GALA Token due to factors such as partnerships and developments from the previous year.
Analysts have given a positive rapid analysis rating to the trading performance of GALA Token over the past 30 days, primarily due to the token’s current price movement. This suggests promising signs for traders in the near future, especially considering the active trading of GALA Token.
In broader crypto market news, Bitcoin, the leading cryptocurrency, experienced a 2.56% loss in trading prices over the week, subsequently trading below $30k. However, within a 24-hour period, BTC’s trading volume declined by 27.08%. While leading cryptocurrencies showed gains on the charts, altcoins underperformed and suffered losses.
Despite the overall struggling crypto market, Dogecoin, Maker Token, and THETA showed resistance to the decline and saw gains ranging from 5% to 16% over the week. Analysts attribute DOGE’s ascending price to recent updates on Twitter and viral statements made by centi billionaire Elon Musk.
In the last 24 hours, the total volume of the cryptocurrency market recorded a decline of 22.61%, amounting to $26.5 billion. DeFi, on the other hand, accounted for $2.39 billion or 9.02% of the overall crypto market volume. Stablecoins represented the majority, with a total volume of $23.96 billion, making up 90.45% of the 24-hour market volume.
It is important to note that the views and opinions expressed in this article are solely for informational purposes and do not constitute financial, investment, or other forms of advice. It is essential to understand the risks associated with investing or trading crypto assets, as they can result in financial loss.