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Home Crypto News Market GALA Has Flipped FTM and is Now the 42nd Biggest Cryptocurrency in...

GALA Has Flipped FTM and is Now the 42nd Biggest Cryptocurrency in the World By Market Capitalization

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According to coingecko.com data, GALA has just flipped FTM and is now the 42nd biggest cryptocurrency in the world by market capitalization.

This is confirmed by Watcher.Guru official tweet:

GALA, which aims to take the gaming industry in a different direction by giving players back control over their games, is currently trading at $0.7106, up 17.92%, with a 24-hour trading volume of $2,398,466,021.60 USD, up 29.65% from the previous session. The current Coingecko ranking is #42, with a live market cap of $5,347,228,958 USD.

According to Coingecko.com data, it has a circulating supply of 7,542,496,572 GALA coins, and the max. supply is 50,000,000,000.

Gala Games project wants to change the fact that players can spend hundreds of dollars on in-game assets, and countless hours spent playing the game, which could be taken away from them with the click of a button. It plans to reintroduce creative thinking into games by giving players control of the games and in-game assets with the help of blockchain technology.

On other hand, FTM, a directed acyclic graph (DAG) smart contract platform providing decentralized finance (DeFi) services to developers using its own bespoke consensus algorithm, is currently trading at $2.08, up 3.22%, with a 24-hour trading volume of $436,816,726.92 USD, up 6.62% from the previous session. The current Coingecko ranking is #43, with a live market cap of $5,295,479,143 USD.

According to Coingecko.com data, it has a circulating supply of 2,541,152,731 Fantom coins, and the max. supply is 3,175,000,000.

Fantom attempts to use a new scratch-built consensus mechanism to facilitate DeFi and related services on the basis of smart contracts.

The mechanism, Lachesis, promises much higher capacity and two-second transaction finalization, along with improvements to security over traditional proof-of-stake (PoS) algorithm-based platforms.

Matching Ethereum, the project appeals to developers looking to deploy decentralized solutions. According to its official literature, its mission is to “grant compatibility between all transaction bodies around the world.”

Its in-house PoS token, FTM, forms the backbone of transactions, and allows fee collection and staking activities, along with the user rewards the latter represents.

Through token sales in 2018, Fantom raised almost $40 million to fund development.

 

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Mark Brennanhttps://thecryptobasic.com/
Mark is 27, holds a Master degree in Business Administration, and works as a content Creator at TheCryptoBasic mostly on Crypto Market Updates. Since 2014 he has been active in the crypto sector. Thanks to the Business College in which other than Business subjects, he was taught about the disruptive potential of Blockchain. His interests include Blockchain technology and Crypto Market innovations. He also founded a small startup in which he gives lectures on cryptocurrencies.

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