Reserve

Million

Change

Billion

<ul class="list-ic vertical"> 
 <li> 1 <a>Exchanges has been observed to increase their reserve on GALA while the overall inflow has surged 4%.</a> </li> 
 <li> 2 <a>GALA token price, at the time of writing, was trading at $0.0466 with a gain of 3.65% intraday.</a> </li> 
</ul> 
GALA is a web 3 ecosystem powered by the layer 1 GALA Chains. It is made to power GALA entertainment ecosystem which includes GALA Music, GALA Films, GALA Games. The developers of the chain can create custom tokens, rewards and node networks for their communities and projects. Any asset built on the GALA chain can also be transferred to the different chains like Ethereum and BSC. Gala has put an extensive effort towards the chain making it easier to use and more accessible to external development. 
<a href="https://www.thecoinrepublic.com/2023/07/26/gala-token-mimics-crypto-market-lose-11-over-the-week/" target="_blank" rel="noreferrer noopener">GALA token</a> is the official ecosystem token which serves primarily as a utility and gas token for transactions on the blockchain. Recently on May 20,2024 Blockchain Game Partners experienced a security breach that led to the unauthorized minting of 5 Billion GALA tokens. The company responded promptly and successfully stopped the malicious actors and since then, has enhanced security. 
<h2 class="wp-block-heading" id="strong-gala-active-address-decline-while-oi-takes-a-new-high-strong">GALA Active Address Decline While OI Takes a New High</h2> 
GALA token employs a Gnosis multisig safe ensuring that no single team member has unilateral access. GALA has a market cap of $1.44 Billion and is ranked 69th on CMC. It has a VM ratio of 0.2 hinting highlighting a consolidation phase. GALA token price is currently trading near $0.04 with a gain of 1% intraday. The asset price is consolidating on the daily chart and is trading below the 50 and 100 EMAs. 
The upside momentum of GALA could halt near $0.055. Meanwhile, the support price is seen near $0.039. RSI is near 57, highlighting its presence in a slight oversold zone. The overall sentiment of the indicator is weakly bullish in nature. It reinforces the principle of collective oversight and enhances operational security. 
<div class="wp-block-image"> 
 <figure class="aligncenter size-full is-resized">
 <img loading="lazy" decoding="async" width="432" height="391" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-37.png" alt="" class="wp-image-207761" style="width: 100%;height:auto" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-37.png 432w, https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-37-300x272.png 300w" sizes="(max-width: 432px) 100vw, 432px">
 </figure>
</div> 
Source: GALA holders by CMC 
GALA has a supply of 33,575,281,582 in which approximately 100% is circulating in the market. As per CoinMarketCap, whale holdings remained unchanged in the past few weeks. The number of holders of GALA has surged while the cruisers and traders have declined. 
<div class="wp-block-image"> 
 <figure class="aligncenter">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXf4CkjIFymtC4muz0cupoRK1aIRrAg6nxmT9uPviEoIkoy7hPk2r8ktegWWPc2aJ1NbtJKvwv76YfKnde8cROAdN_JdHoVmqc5WGDmEpIeFxTQwRCTfJp25k2RjvOzCrn3q7MIe2-2gOq0e372xHVFgDDE?key=KfR8QJoyCw2hKuNNfUPwBw" alt="">
 </figure>
</div> 
Source: Activeadress by crypto quant 
GALA has declined 25% in the last 24 hours in the number of active wallets used to send and receive coins. The number of transactions has remained almost constant near 96 in the last seven days. Meanwhile, exchanges have observed a surge in their GALA reserves which can push the bearish sentiment. 
<div class="wp-block-image"> 
 <figure class="aligncenter">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXckpyBQVRN8IN1Zj1P2y2RFCbUi1l0L0cJzk4Fc-YdAnWQEUoOj_KCZ0g0nMF7AGMvDvSqczOk3f8ZnmVBFPIb3-PZR6oeSUEM7mfi6eG5iH2MCFrSZ1DTY5tk3Va2OQp_e8vbTB-kTUR77x8j_cIgfbApp?key=KfR8QJoyCw2hKuNNfUPwBw" alt="">
 </figure>
</div> 
Source; GALA OI By CoinGlass 
The token shows a rise of $35 Million in OI in the last few days. The overall volume of the token has also observed a rise of more than 100% in almost every exchange. The funding rate of the GALA token has remained constant for the last few weeks. 
<h3 class="wp-block-heading" id="strong-gala-up-by-50-in-a-year-will-this-trend-change-soon-strong">GALA up by 50% in a Year, Will this Trend Change Soon?</h3>  
<a href="https://in.tradingview.com/chart/GALAUSDT/8jwqMM6p-</a> by <a href=" https: in.tradingview.com u ritika_tcr ">Ritika_TCR</a> on <a href="https://in.tradingview.com/">TradingView.com</a>  
GALA has a market cap of $1.44 Billion and is ranked 69th on CMC. It has a VM ratio of 0.2 hinting towards the consolidation in price. GALA token price is currently trading near $0.04 with a gain of 1% intraday. 
The asset price is consolidating on the daily chart. It is trading below the 50 and 100 day EMAs. The upside momentum of GALA token price could halt near $0.055. On the other hand, the support price is near $0.039. 
The RSI of GALA is near 57, highlighting its presence in a slight oversold zone. The overall sentiment of the indicator is weakly bullish in nature. 
<h4 class="wp-block-heading">Conclusion</h4> 
GALA is observing a decline in the daily active users and surge in the exchange reserves. The OI of GALA token price has surged by $35 Million in the last few days. GALA token price is currently in a consolidation but can see a new high in the future.

Does The Surge In Exchange Reserve Put A Bearish Pressure On GALA?

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