A gaming altcoin built on the Ethereum network has witnessed an almost uninterrupted parabolic rise following its addition to the leading US-based crypto exchange Coinbase.
Coinbase added Gala (GALA) to its professional trading platform earlier last week and then rolled out support for the altcoin on its retail trading platform on Wednesday. Since Coinbase announced its first support for the altcoin, the GALA has increased by 355%.
The cryptocurrency is up 25% in the last 24 hours alone. Gala is the core crypto asset of the Gala Games ecosystem.
It is designed to power a large number of games, allowing players to earn rewards and also buy and sell in-game items in the form of non-fungible tokens (NFTs). The coin is considered a relatively new player in the crypto space since it was launched in September 2020.
So far, the project has launched a game called Townstar, a competitive farming simulation game featuring player-owned NFTs. The game allows players to participate in various competitions to climb the weekly leaderboards and earn in-game rewards.
Gala Games said its ecosystem has sold around 26,000 NFTs to date, with the most expensive NFT selling for $3 million.