In this article, we analyze the latest news and market performance of the crypto projects Avalanche (AVAX), Gala (GALA), and Shiba Inu (SHIB). Over the past month, all three digital assets have seen strong price increases due to the recent Bitcoin rally. Let’s take a closer look.
The latest news from the Avalanche project is the introduction of the wstETH cryptographic resource into the blockchain, with the help of the Layer Zero interoperability platform. This is a major step forward for the Avalanche universe, as it can now benefit from the presence of one of the most commonly used coins in the DeFi realm of liquid staking. It will also help to attract capital to the network.
Gala, the decentralized gaming ecosystem, has recently made the game ‘Legacy’ public within its platform. This is a game similar to ‘The Sims’, in which users are tasked with running a city, building businesses, and contributing to society. After only four days, ‘Legacy’ has already been well received by the Gala community.
The Shiba Inu project team recently announced a big news coming soon for the whole community. A platform dedicated to unlocking “your unique Shib identity” is expected to be launched, with a special treat dedicated to the topic of cryptographic identity on the blockchain. In addition, a giveaway of $5,000 in SHIB tokens was organized.
Now, let’s turn to the market performance for AVAX, GALA, and SHIB. All three coins have seen strong gains in their dollar countervalue in the past month, mainly due to the BTC rally. AVAX is attempting to break through the $12 resistance level with a possible return to the $20-$30 range in the next 3-6 months. SHIB, on the other hand, has been more stagnant, with a meager +9.14% gain over the past month. Gala is the most promising cryptocurrency of the three, with a +47% gain and a possible return to the $0.1 mark in the medium term.
In conclusion, volatility could be dangerous for novice traders, so make sure you do a thorough risk management analysis before taking significant exposure to high-risk assets such as GALA.