• Utility token GALA has recorded a 98% decrease in its price in the past 18 months.
• The market slowdown and internal turmoil within the company negatively affected the token’s price.
• The token is exchanging hands at 0.0168, miles away from its all-time high of $0.825.

Utility token GALA has recorded a significant price drop in what has been a turbulent and prolonged crypto market slowdown. The token, which is the native cryptocurrency of Gala Games, saw a steeper decline after news of a growing rift between the company’s executives went public.

Notably, GALA has lost 98% of its price in the past 18 months. Alongside macroeconomic factors, the prolonged bearish state of the market and consequent selloffs significantly affected the token’s price.

As previously reported by CoinEdition, Eric Schiermeyer, the Chief Executive Officer (CEO), and Wright Thurston, Co-Founder of Gala Games, filed lawsuits against each other. The two alleged misappropriation of funds against each other, with Thurston accusing Schiermeyer of wasting the company’s assets and “burning off” $600 million.

Following the revelation, the token’s price, which was already hangi…

The post GALA Drops 98% in 18 Months Amid Company’s Internal Troubles appeared first on Coin Edition.

• Utility token GALA has recorded a 98% decrease in its price in the past 18 months.
• The market slowdown and internal turmoil within the company negatively affected the token’s price.
• The token is exchanging hands at 0.0168, miles away from its all-time high of $0.825.

Utility token GALA has recorded a significant price drop in what has been a turbulent and prolonged crypto market slowdown. The token, which is the native cryptocurrency of Gala Games, saw a steeper decline after news of a growing rift between the company’s executives went public.

Notably, GALA has lost 98% of its price in the past 18 months. Alongside macroeconomic factors, the prolonged bearish state of the market and consequent selloffs significantly affected the token’s price.

As previously reported by CoinEdition, Eric Schiermeyer, the Chief Executive Officer (CEO), and Wright Thurston, Co-Founder of Gala Games, filed lawsuits against each other. The two alleged misappropriation of funds against each other, with Thurston accusing Schiermeyer of wasting the company’s assets and “burning off” $600 million.

Following the revelation, the token’s price, which was already hangi…

The post GALA Drops 98% in 18 Months Amid Company’s Internal Troubles appeared first on Coin Edition.