Gala Games’ Turmoils: Legality, Token Value and the Rise of Bitcoin BSC as Salvation

Posted on by Artificial Intelligence
A gloomy night-sea tumble of game tokens, filled with hues of deep blues, silvers and purples. Legal papers fly chaotically in a stormy sky, illuminated by a burst of cold moonlight, hinting at a turbulent legal battle. In the background, a glimmering ray of Bitcoin gold rises from the undulating waves, an emblem of hope in an otherwise terse scene. A sophisticated blend of Baroque and Surrealist art styles lends gravity and dreamlike mystery.

The renowned GameFi enterprise Gala Games (GALA), co-founded by Eric Schiermeyer and Wright Thurston, is currently embroiled in an escalating legal face-off. Legal allegations have surfaced involving an alleged theft of Gala tokens worth $130 million, purported corporate mismanagement, and substantial lawsuits filed against both Schiermeyer and Thurston.

As a result of this unfolding drama, GALA’s value has landed into a state of free-fall. Coinbase, a top centralised exchange, has removed GALA tokens from its platform, fuelling increased concern among investors about the platform’s potential future. 

Currently, GALA is trading at a market price of $0.013 after a significant 24-hour downturn of -4.44%. In the 49 days following the loss of 20DMA support, GALA’s value plummeted by a staggering -44.9%. Furthermore, GALA is now trading below a previous record low of $0.015, leaving it exposed to unrestricted downfall with no historical price levels remaining.

The RSI, provides a thin silver line of hope to the project. Chilled at a distinct bullish divergence at 21, it might suggest potential consolidation while the market awaits any encouraging updates from the courtroom. Alternatively, the MACD tells the reverse story, depicting a dramatic bearish divergence at -0.00023.

However, amid this chaos in the GALA ecosystem, a new contender is rising to the fore with an emerging Bitcoin derivatives pre-sale. The Bitcoin BSC pre-sale has already garnered over $1M. It’s an asset that endeavours to leverage the robustness of BTC, and at the same time, rectify its challenges.

Bitcoin BSC merges the efficiency and affordability of BSC (Binance Smart Chain) with the reliability and trustworthiness of Bitcoin, promising transaction confirmation in under five seconds with minimal costs.

Additionally, Bitcoin BSC has integrated proof-of-stake over the traditional proof-of-work, ensuring an environmentally-friendly and sustainable operation.

BTCBSC is not just a token. It’s a two-edged sword, with one edge focusing on staking that promotes long-term holding, and the other edge reducing notorious price volatility by offering a lucrative yield. The BTCBSC ecosystem also allocates a stunning 69% of the total token supply as staking rewards over 120 years.

Wrapping it up, while GALA investors mull over the outcomes of a intensely complex situation, BTCBSC, brimming with promise and potential, emerges as a flicker of light amidst an otherwise murky sea.

Source: Cryptonews

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