As the cryptocurrency market slowly made up for its multi-month loss, several altcoin projects found additional buyers with important news. In this article, let’s list the important news from popular projects such as Gala (GALA), Cardano (ADA) and Aave (AAVE). For details, continue reading Kriptokoin.com.
Why is Gala (GALA) price rising?
The play-to-win (P2E) sector of the cryptocurrency ecosystem has been one of the busiest as gamers pursue the opportunity to earn money while playing tokenized video games. Using Blockchain technology to give players in-game control, Gala (GALA) saw its price skyrocket in the first week of February. The price of GALA rose 117% from a low of $0.177 on Feb. 2 to $0.384 on Feb. 7, according to data from TradingView. According to analyst Jordan Finneseth, there are 3 reasons for this:
- The $30 billion play-to-win industry is growing rapidly and GALA is adding support for new projects in the ecosystem, such as the upcoming release of Spidertanks and Legends Reborn.
A second factor helping to increase GALA’s momentum is the addition of new partnerships that help expand the reach of its ecosystem. This includes a recently announced collaboration with the 888innercircle community on Twitter, which has a community of more than 205,000 members who are fans of digital art and collectibles.
As a result of the ways the Gala ecosystem is monetizing, the community has seen a steady increase in the number of users over time, especially since the start. According to data from Dune Analytics, the total number of GALA users reached 122,230 on February 7, tripling from 40,380 users since November 7, 2021.
Aave Team Launches NFT based social media protocol Lens
The team behind Aave is launching Lens, the social media protocol that makes extensive use of NFTs. Lens will use NFTs to manage data, including user profiles, posts and relationships with followers. The altcoin project is built on Polygon, a layer two network for Ethereum. It also leverages IPFS for off-hcain storage.
BitOasis expands altcoin IDOs
According to the recent announcement, Cardano, Solana, Polkadot and Cosmos will join the new tokens that can be traded on the BitOasis exchange. Seven other tokens will be added to the list in February, including Terra, Shiba Inu, Avalanche, and Polygon. With more than 35 tokens listed, BitOasis is solidifying its position as the market leader in MENA. Nearly 3 times the number of cryptocurrencies listed compared to other regional platforms.
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