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Breaking: Gala Successfully Migrated From V1 to V2 at 1:1 Ratio

source-logo  thecoinrepublic.com 30 May 2023 14:26, UTC
  • 1 Gala community aims to burn $2 Billion of its token by the end of 2023.
  • 2 Crypto exchange Bitstamp also shared information of migration.

Gala successfully migrated from v1 to v2 at a ratio of 1:1, which means the v1 tokens will automatically get converted to v2. Bitstamp took to Twitter to inform that the migration is successful.

At press time, the Gala token was trading at $0.03027 with a 24-hour trading volume of $53,147,492. In the weekly trading session, the trading price of the token rose 0.40%, but in the monthly trading session, the price fell over 22.35%.

Regarding market capitalization, the Gala token is ranked 140th, and in terms of trading volume, it is ranked 53 among 25,124 cryptocurrencies. The total number of tokens in circulation is 24,011,895,724.18.

The intraday trading range of the Gala token is $0.02976 and $0.03077, and in the 52-week trading session token, the lowest traded at $0.01555 and the highest traded at $0.08999.

Earlier on May 17, 2023, the Gala community revealed that it had reduced $27 Billion in tokens after completing the V2 token airdrop. They further plan to burn around $2 Billion of its token by the end of 2023.

Gala Community: Funding, Acquisition, and Partnership

Data from Crunchbase shows that the Gala community raised $5 Million in funding from Venture and Series-A rounds. Puget Sound Venture Club is among the leading investors of this gaming company.

Earlier in January 2023, Gala acquired Ember Entertainment for an undisclosed amount. Ember is a United States-based game-developing company that raised $1.3 Million in a Venture round.

On March 31, 2023, Gala and Huobi Global announced that they agreed to work together in a strategic partnership for ecosystem and project development. Huobi is among the leading crypto exchanges operating its business in more than 150 nations globally.

Gala Games and Huobi Global announced their strategic partnership on March 31, 2023. Both the leading companies came together in an alliance for ecosystem development.

Eric Schiermeyer, an essential part of the Gala Games development community, also developed Zynga Poker, Farmville, and Mafia Wars. Gala Games employs over 100 game developers.

Since the beginning of 2023, the crypto market has been trudging out of the crypto winter; some tokens and coins are still struggling. Although the leader of all cryptocurrencies, Bitcoin began its new year with a special trading price. At press time, it was trading at $28,034 with a 24-hour trading volume of $12,932,636,411.

BTC prices jumped over 21.13% in the quarterly trading session, and in the half-yearly trading session, prices ascended 63.32%.


The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.