⛔️ Will GALA bring back the classic Luna scenario or is it just a play on something in the psyche of whales ⛔️
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Cryptocurrency project Gala Games' native digital currency, known as GALA, saw a significant drop in value on Monday, according to CoinDesk. This was due to concerns over the large transfer of over $200 million in GALA tokens, which traders suspected could be a hack. An anonymous party minted 5 billion Gala tokens and then sold them on decentralized exchange Uniswap, according to blockchain explorers.
Gala Games representatives did not previously announce this activity, nor did they provide an immediate clarification on the project's Discord server. This lack of communication led to speculation that the widespread minting and selling of digital coins was the result of a hack. Following these events, GALA's price fell to a low of $0.039, a 19% decline from the intraday high.
