Crypto News

GALA Project Wallet Activity Sparks Speculation Of Potential Price Push

After a four-month hiatus, the $GALA project wallet made significant moves just four hours ago, transferring 200,000 USDT and 65 million GALA tokens (approximately $1.6 million) to wallet 0x625d7.

This transfer represents about 0.2% of GALA’s circulating supply.

Wallet 0x625d7, created nine months ago, has a history of receiving substantial amounts of GALA from the project. Its first transaction was a transfer of 150 million GALA (around $2.29 million) from the GALA project. Over a six-month period, from October 2023 to March 2024, this wallet continuously received large GALA transfers.

Consistently, after receiving these funds, wallet 0x625d7 transferred them to the Wintermute wallet 0xdbf5, which is known for distributing GALA to centralized exchanges (CEXs) like Binance and Kraken, either directly or through intermediary wallets.

Interestingly, the current price of GALA is similar to the price at which it was previously sent to Wintermute. This activity has led to speculation that the recent transfers could indicate a new price push strategy.

Gala Games Has Launched A New Mini App On Telegram Called Treasure Tapper

In related news, Gala Games recently introduced a new mini-app on Telegram called Treasure Tapper!, which allows users to earn free $TREZ tokens. These tokens are set to launch on GalaChain and TON, adding another layer of utility and engagement for the GALA ecosystem.

As the market watches these developments, the renewed activity from the GALA project wallet and the introduction of new features like Treasure Tapper! suggest potential strategic moves that could influence GALA’s price and market dynamics in the near future. Investors and enthusiasts will be closely monitoring these transactions and their impact on the broader crypto landscape.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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