<![CDATA[<figure class="image"><img src="https://cimg.co/news/124611/329155/image.jpg" alt="" srcset="https://cimg.co/news/124611/329155/responsive-images/image___media_library_original_1280_720.jpg 1280w, https://cimg.co/news/124611/329155/responsive-images/image___media_library_original_1200_675.jpg 1200w, https://cimg.co/news/124611/329155/responsive-images/image___media_library_original_900_506.jpg 900w, https://cimg.co/news/124611/329155/responsive-images/image___media_library_original_720_405.jpg 720w, https://cimg.co/news/124611/329155/responsive-images/image___media_library_original_600_338.jpg 600w, https://cimg.co/news/124611/329155/responsive-images/image___media_library_original_300_169.jpg 300w" sizes="100vw" width="1280" class="content-img"><figcaption>Source / Sam Cooling x Gala Games</figcaption></figure>Gala Games (GALA) price action has entered complete free-fall as the once shining GameFi project crumbles amid an intense legal struggle between co-founders Eric Schiermeyer and Wright Thurston.This comes amid allegations of theft amounting to $130 million in Gala tokens and corporate mismanagement by <a href="https://www.crunchbase.com/person/wright-w-thurston">Thurston</a>, alongside his investment firm <a href="https://www.tninvestments.com/">True North United Investments.</a>It is alleged Thurston illicitly acquired approximately $130 million worth of GALA tokens tied to the Gala Games ecosystem.&nbsp;According to Schiermeyer's <a href="https://pacer.login.uscourts.gov/csologin/login.jsf?pscCourtId=UTDC&amp;appurl=https://ecf.utd.uscourts.gov/doc1/18306207947?caseid%3D142042">suit</a>, these tokens were initially moved to a wallet under the company's control, only to be subsequently transferred into 43 other wallets by Thurston himselfAnd in a dramatic turn of events last week, both co-founders have <a href="https://cryptonews.com/news/legal-battle-at-gala-games-ceo-accuses-co-founder-of-130-million-theft.htm">filed lawsuits against each other</a> in a Utah District Court.Thurston's counter-claim alleges Schiermeyer lent Gala's funds to himself for personal use, and even purportedly created Gala-related entities in Switzerland and Dubai, positioning himself as the controlling shareholder to pursue his own business interests.<figure class="media"><oembed url="https://twitter.com/blue_punkrocker/status/1700922198083670362"></oembed></figure>The impact has been substantial, with leading centralized exchange Coinbase de-listing GALA tokens over the weekend - leaving ranks of bag-holders concerned about the future of the project.<h2 id="strong-gala-price-analysis-is-gala-games-going-to-zero-amid-legal-drama-strong">GALA Price Analysis: Is Gala Games Going to Zero Amid Legal Drama?</h2>With the project's future in doubt, Gala Games price action is in turmoil, with GALA currently trading at a <a href="https://www.tradingview.com/symbols/GALAUSDT/">market price of $0.013</a> (representing a 24-hour change of -4.44%).Downside movements have gripped price action in recent weeks, following the sudden loss of 20DMA support on July 24.<figure class="image"><img src="https://cimg.co/news/124611/329150/image.jpg" alt="" srcset="https://cimg.co/news/124611/329150/responsive-images/image___media_library_original_1634_901.jpg 1634w, https://cimg.co/news/124611/329150/responsive-images/image___media_library_original_1200_662.jpg 1200w, https://cimg.co/news/124611/329150/responsive-images/image___media_library_original_900_496.jpg 900w, https://cimg.co/news/124611/329150/responsive-images/image___media_library_original_720_397.jpg 720w, https://cimg.co/news/124611/329150/responsive-images/image___media_library_original_600_331.jpg 600w, https://cimg.co/news/124611/329150/responsive-images/image___media_library_original_300_165.jpg 300w" sizes="100vw" width="1634" class="content-img"><figcaption>TradingView / GALA USDT</figcaption></figure>In the 49 days since losing the 20DMA, price action has bled-out a tumultuous -44.9%, with the descendant moving average forming a localised ceiling of impenetrable resistance.&nbsp;Resultantly, <a href="https://cryptonews.com/coins/gala/">GALA price</a> is now trading below the prior all-time low at $0.015 (December 29, 2022).This leaves no historical price levels remaining, exposing GALA to a complete free-fall as price action enters downside price exploration - depicted in the collapsing 200DMA.Looking to psychological price levels, $0.0125 and $0.01 could form potential lower support levels.The RSI is perhaps the last remaining hope for bag-holders as the brimstone of lawyers and lawsuits threatens to disintegrate the once promising future of GALA.With the indicator cooled-off to a significant bullish divergence at 21 - consolidation could form here as markets await further updates from the unfurling legal saga.However, the MACD conflicts this silver-lining, showcasing dramatic bearish divergence at -0.00023.Overall, GALA is in free-fall, downside action is to be expected - and with an uncertain future bag-holders will be awaiting a much needed relief rally for a quick exit.<figure class="image"><img src="https://cimg.co/news/124611/329151/image.jpg" alt="" srcset="https://cimg.co/news/124611/329151/responsive-images/image___media_library_original_1634_901.jpg 1634w, https://cimg.co/news/124611/329151/responsive-images/image___media_library_original_1200_662.jpg 1200w, https://cimg.co/news/124611/329151/responsive-images/image___media_library_original_900_496.jpg 900w, https://cimg.co/news/124611/329151/responsive-images/image___media_library_original_720_397.jpg 720w, https://cimg.co/news/124611/329151/responsive-images/image___media_library_original_600_331.jpg 600w, https://cimg.co/news/124611/329151/responsive-images/image___media_library_original_300_165.jpg 300w" sizes="100vw" width="1634" class="content-img"><figcaption>TradingView / GALA USDT</figcaption></figure>With price in serious free-fall, upside potential is limited to yesterday's high of $0.01495 (a potential +6.8%).While to the downside, price could tumble to a lower psychological support level at $0.0125 (a possible -10.7%).This leaves Gala Games with a risk: reward ratio of 0.63 - a bleak entry dominated by downside risk.Yet, while GALA bag-holders despair, smart money are already positioned for the next moon-shot with an emerging Bitcoin derivates presale poised to emerge as the biggest launch of September 2023.<h2 id="strong-bitcoin-bsc-presale-surges-past-1m-raised-as-hype-for-bitcoin-derivates-grows-strong">Bitcoin BSC Presale Surges Past $1M+ Raised as Hype for Bitcoin Derivates Grows</h2><figure class="image"><img src="https://cimg.co/news/124611/329154/image.jpg" alt="" srcset="https://cimg.co/news/124611/329154/responsive-images/image___media_library_original_677_381.jpg 677w, https://cimg.co/news/124611/329154/responsive-images/image___media_library_original_600_338.jpg 600w, https://cimg.co/news/124611/329154/responsive-images/image___media_library_original_300_169.jpg 300w" sizes="100vw" width="677" class="content-img"><figcaption>Source / Bitcoin BSC</figcaption></figure>On-Chain Summer has given rise to an emerging vertical of Bitcoin off-shoot projects. While the term "Bitcoin derivative" might raise eyebrows, here&rsquo;s what it signifies: a digital asset that leverages the strengths of Bitcoin and, at the same time, offers enhancements to rectify its challenges.And with $1,052,817 raised this is what has markets so excited about <a href="https://www.bitcoinbsc.io/">Bitcoin BSC</a>.BTCBSC's commitment to retaining Bitcoin's cherished tokenomics, including the iconic 21 million token cap, ensures familiarity, while its unique offerings make it stand out.<figure class="media"><oembed url="https://twitter.com/Bitcoinbsctoken/status/1701145442904404340"></oembed></figure>One can't help but marvel at BTCBSC&rsquo;s integration with BSC (Binance Smart Chain), promising lightning-fast transaction times and minimal fees.Forget the 10+ minute wait times of traditional Bitcoin; with BTCBSC, your transactions are confirmed in under five seconds, all for a mere $0.10.This enhanced efficiency opens the door for broader usability, ensuring BTCBSC's relevance for a range of dApps, from microtransactions to significant financial remittances.But that's not all, BTCBSC's adoption of proof-of-stake over proof-of-work offers a greener, more sustainable mechanism that's in line with contemporary environmental concerns.By doing so, it ensures that the energy concerns that often plague traditional cryptocurrencies are a thing of the past.<a href="https://cryptonews.com/ext/bitcoin-bsc/en">&gt;&gt;&gt;&gt; Buy Bitcoin BSC Here &lt;&lt;&lt;&lt;</a><h2 id="strong-staking-comes-to-bitcoin-empower-your-stack-with-additional-rewards-strong">Staking Comes to Bitcoin: Empower Your Stack with Additional Rewards</h2><figure class="image"><img src="https://cimg.co/news/124611/329153/image.jpg" alt="" srcset="https://cimg.co/news/124611/329153/responsive-images/image___media_library_original_1600_534.jpg 1600w, https://cimg.co/news/124611/329153/responsive-images/image___media_library_original_1200_401.jpg 1200w, https://cimg.co/news/124611/329153/responsive-images/image___media_library_original_900_300.jpg 900w, https://cimg.co/news/124611/329153/responsive-images/image___media_library_original_720_240.jpg 720w, https://cimg.co/news/124611/329153/responsive-images/image___media_library_original_600_200.jpg 600w, https://cimg.co/news/124611/329153/responsive-images/image___media_library_original_300_100.jpg 300w" sizes="100vw" width="1600" class="content-img"><figcaption>Source / Bitcoin BSC</figcaption></figure><a href="https://cryptonews.com/ext/bitcoin-bsc/en">BTCBSC</a> isn't just a token; it's an investment strategy - focused on: Staking, which has become a focal point in the DeFi space, takes center stage in the BTCBSC ecosystem.The benefits are two-fold: it offers token holders a lucrative yield (imagine an APY of 8-10%!) and it promotes long-term holding, reducing the notorious price volatility often seen with new crypto projects.By distributing a staggering 69% of the total token supply as staking rewards over 120 years, BTCBSC not only incentivizes holding but promises sustained and stable growth.<figure class="media"><oembed url="https://www.youtube.com/watch?v=WusvMDkZRpI"></oembed></figure><a href="https://cryptonews.com/ext/bitcoin-bsc/en">&gt;&gt;&gt;&gt; Buy Bitcoin BSC Here &lt;&lt;&lt;&lt;</a><h2 id="strong-seize-the-moment-the-btcbsc-presale-surges-to-1m-raised-in-first-week-strong">Seize the Moment: The BTCBSC Presale Surges to $1m+ Raised in First Week</h2>Now comes the crux: the <a href="https://cryptonews.com/ext/bitcoin-bsc/en">BTCBSC presale</a> -a limited-time opportunity, the presale offers 29% of the total token supply to early participants at a tantalizing price of $0.99 per token.Comparing this to Bitcoin&rsquo;s 2011 price gives a nostalgic yet optimistic perspective on BTCBSC's potential.With liquidity already locked via Unicrypt and a soon-to-be launch on PancakeSwap, the prospects for BTCBSC are incredibly promising.The parallels to the surges seen in other Bitcoin derivatives, like BCH and BTC20, cannot be ignored.<figure class="image"><img src="https://cimg.co/news/124611/329152/image.jpg" alt="" srcset="https://cimg.co/news/124611/329152/responsive-images/image___media_library_original_1251_702.jpg 1251w, https://cimg.co/news/124611/329152/responsive-images/image___media_library_original_1200_673.jpg 1200w, https://cimg.co/news/124611/329152/responsive-images/image___media_library_original_900_505.jpg 900w, https://cimg.co/news/124611/329152/responsive-images/image___media_library_original_720_404.jpg 720w, https://cimg.co/news/124611/329152/responsive-images/image___media_library_original_600_337.jpg 600w, https://cimg.co/news/124611/329152/responsive-images/image___media_library_original_300_168.jpg 300w" sizes="100vw" width="1251" class="content-img"><figcaption>Source / Bitcoin BSC</figcaption></figure>BTCBSC is poised to not only emulate, but potentially surpass these successes, especially with its strategic staking model.So in ever volatile crypto markets, BTCBSC emerges as a beacon of innovation and promise - delivering advanced features, combined with the trustworthiness of Bitcoin's legacy, has seen BTCBSC break-out as a top tier investment opportunity.As the crypto community eagerly watches the BTCBSC journey, it&rsquo;s clear that this is more than just another token; it's a movement, a strategy, and most importantly, an opportunity.Join the future; join the BTCBSC revolution.<a href="https://cryptonews.com/ext/bitcoin-bsc/en">&gt;&gt;&gt;&gt; Buy Bitcoin BSC Here &lt;&lt;&lt;&lt;</a>Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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Is Gala Going to Zero? GALA Price Keeps Falling as New Bitcoin Project Raises $1 Million

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