The cryptoverse kickstarted 2023 with good news from most quarters. However, some cryptos are doing better than others. At the beginning of the year, Gala, Optimism, and Snowfall Protocol (SNW) are the best-performing cryptocurrencies. They are off to a strong start, and here is why there has been a significant uptick in their performance.
Gala (GALA) Got a Celebrity Fix
After experiencing a sub-par performance in 2022, Gala has shown stirring price movement at the beginning of 2023. The activity in Gala’s prices can be attributed to three major reasons.
The first reason for GALA’s surge is the announcement of the crypto’s partnership with Dwayne “The Rock” Johnson. It includes a two-movie deal that will also feature Mark Wahlberg. Gala Games has said that ticket buyers will get a chance to scan QR codes to win crypto.
The second reason seems to be the platform’s strategy to move completely towards mobile services. Gala users have welcomed the move, which makes it convenient for them to download games, play them, and win crypto. In the same spirit, Gala Games also claims to have acquired a gaming studio with 20+ million users and is planning on introducing 15 new crypto games. The third positive news is that the Gala community is pushing to use 100% of Gala tokens for all purchases on the Gala platform.
All these developments have ensured that GALA’s price surged 110% in the initial weeks of 2023. How GALA will sustain this momentum remains to be seen.
Optimism (OP) is Steadily Growing
The past few months have been exciting for the Optimism blockchain. Optimism has left behind Arbitrum in terms of daily transactions. In fact, Optimism has become the blockchain of choice for a large number of Decentralized Finance projects.
The growth of Optimism can be attributed primarily to its capability of reducing the cost of transactions vis-à-vis the Ethereum blockchain. Optimism uses a technology called “optimistic rollups,” which allows it to conduct transactions off the blockchain while maintaining its security. This feature works well for DeFi projects which rely on frequent transactions.
The larger adoption of Optimism is making its price shoot up over the first weeks of the new year.
The Rise & Rise of Snowfall Protocol (SNW)
Snowfall Protocol (SNW) has been turning heads since its presale at the end of 2022. It conducted a successful presale session amid a heavily bearish market. It continued its gains through the end of 2022 and has maintained the momentum well into the new year as well.
The main reason for the growing interest in Snowfall Protocol (SNW) is its interoperability bridge. The project has garnered much interest from crypto investors who see incredible value in the crypto highway that Snowfall Protocol (SNW) has created. They are also earning passive income from staking and yielding opportunities. Naturally, the demand for Snowfall Protocol (SNW) is so high that its stage 2 of sale had to be closed a day early. Stage 3 of the sale began with a 250% appreciation in the token’s price.