The Gala, Fantom and SNM crypto trend?

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Among the tens of thousands of crypto assets that exist in the world, some perform somewhat differently from the general market trend. In this regard, Gala, Fantom and SNM can be taken as examples.

Analysis of Gala, Fantom and SNM crypto-assets

While it is still Bitcoin that affects the crypto market the most and dictates the trend, how this is reflected in the price trends of other cryptocurrencies can vary.

GALA

One such case is GALA, the Ethereum token from Gala.games

It only debuted in the markets in September 2020, so its high volatility is justified by its youth.

Until January 2021, its price had never exceeded 1.5 thousandths of dollars, but with the start of the last major bull run, it began to soar.

In particular, during the bull run, it made three real colossal booms, only to then drop during the bear market.

The first boom, which began in January 2021, ended two months later above 32 thousandths. Thus, in less than ten weeks, it recorded +2,000%.

In September of the same year, there was the second boom, which took the price to almost 120 thousandths of a dollar, a further increase of 275%.

Finally, after mid-November, when the bull run had already ended in the crypto markets, it made another freak boom, which drove the price to new all-time highs at the end of November at 824 thousandths of dollars. , with another increase of 586%.

Overall, from pre-bubble values ​​to highs, growth has been nearly 55,000% in less than a year.

However, even the burst of the bubble was resounding, so much so that the current price is at -94% from the highs.

If, however, we compare the current price of around 48 thousandths to the pre-bubble price, the gain remains 3.100%, so much so that it turns out to be even higher than in March 2021 after the first boom of 2 000%.

Moreover, the current price also turns out to be 200% higher than the 2022 lows reached at the end of December, although it must be said that these lows were approximately half of the price reached in March 2021 after the first boom.

It is therefore a token with a very volatile value, but which in the long term for the moment is behaving very well.

Ghost (FTM)

The price evolution of the FTM, or Fantom cryptocurrency, was a little less abnormal than that of the GALA.

It was launched in the crypto markets in October 2018, i.e. during the bear market of the previous cycle, so it cannot be considered as a new cryptocurrency.

At the end of 2020, its price was below $0.02, but by May 2021 it had already risen above $0.90, a gain of 4,400% in five months.

FTM’s price in 2021 also saw three peaks, but the last two were nearly identical, both near the all-time high of $3.46 in October.

Thus, the second boom caused the price to increase by another +284%.

Overall from December 2020 to October 2021, the price increased by 17,000% in ten months.

It should be noted that 2022 has been less violent for Fantom than for GALA, so much so that FTM’s current price is 87% below all-time highs. It has therefore increased less, but it has also decreased less.

Moreover, although FTM reached its 2022 low in November, when it fell back below $0.20, it had already fallen just above this threshold in June.

The current price is 170% higher than in November 2022 and 2,200% higher than before the bubble. Indeed, it is even in line with that of April 2021, which was the month before the first peak, and more than twice the level of July 2021.

In other words, over the long term, Fantom’s price is doing very well, despite collapsing following the bursting of the 2021 bubble.

SONM (SNM)

SNM is the token on Ethereum of the SONM project

Its price trend is completely different from that of other cryptocurrencies.

Suffice it to say, the bubble inflated in November 2022, not 2021, just as the crypto markets crashed due to the FTX fiasco.

However, it is a token with low trading volumes, extreme volatility, and a not-at-all-constant trend characterized by numerous short peaks.

It’s even been around since late 2017, when the previous cycle’s speculative bubble was in place. But despite being a cryptocurrency that can be defined as “old”, its price still has a very volatile trend.

At the end of 2020, the price was below $0.01. In April 2021 it had increased tenfold, but in May there was the first very short and resounding spike that took it above $1.12 for just one day. At the top, it had gained 11,000% from five months earlier.

In July 2021, it had already lost 90% of its value from the peak, but in November another formed, also very short, but it did not even reach $1.

In the first part of 2022 it even fell to $0.04, a loss of 96% from the previous high, but from August a real new bull run began, characterized by a speculative bubble still bigger.

In fact, after returning to $0.70 in September, it fell back to $0.14 in early November, then from November 20 in just 24 hours it reached $10.91, only to drop below 0. $.98 the next day.

This resounding and very rapid rise of 7,700% in a single day, followed by a 91% collapse in the next 24 hours, is an anomaly, even for the crypto markets, and it may have been triggered by a bizarre event capable of generating a true fast pump and dump pattern through low average trading volumes.

However, after even falling below $0.50 in December, in January the price doubled again to break above the $1 threshold.

It is therefore a token whose price evolution is difficult to interpret due to high volatility probably due to very low trading volumes.

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