Crypto Strategist Flips Bullish on Gala, dYdX and One Red-Hot Altcoin – Here's His Outlook

A widely followed crypto analyst is suddenly turning bullish on Gala (GALA) and two other altcoins. Pseudonymous crypto trader The Flow Horse tells his 186,500 followers on the social media platform X that the native asset of the blockchain-based gaming platform Gala is in an uptrend.

Timeline of Dydx, Gala, Celestia

Digital asset investment group KR1 PLC (AQSE:KR1) has published an investment update on its holdings in modular blockchain token Celestia (formerly LazyLedger) following the mainnet launch on 31 October. The company holds a total of 7.5 million TIA tokens, which are the native digital asset of the Celestia network, having gained them entirely from KR1's investment into Celestia's seed funding round three years ago.

The dYdX Operations subDAO is pleased to announce the launch of Full Trading on the dYdX Chain, introducing new and improved trading rewards, a 6-month Launch Incentive Program proposed by Chaos Labs, and the continuation of Validators and Stakers receiving 100% of protocol fees.

This week, the cryptocurrency market faced substantial turbulence, driven by Binance's legal challenges. With a hefty $4 billion settlement and the resignation of CEO Changpeng Zhao amid accusations of violating U.S. anti-money laundering laws, the industry witnessed significant disruptions.

The cryptocurrency market has experienced significant volatility this week, largely influenced by Binance's recent legal turmoil. The saga includes a massive $4 billion settlement and the consequential resignation of CEO Changpeng Zhao, following charges of violating U.S. anti-money laundering laws.

In a decisive move to bolster its trading platform's stability and security, decentralized crypto exchange dYdX has implemented significant changes in its trading policies. This strategic shift comes in the wake of the exchange deploying $9 million from its insurance fund to offset users' losses incurred on November 17th.

dYdX, a prominent decentralized exchange, has deployed its insurance fund to mitigate the impact of a severe liquidation event, where $9 million worth of user positions were affected. Antonio Juliano, the founder of dYdX, attributed these liquidations to what he described as a “targeted attack” against the platform.

DYDX (CRYPTO: ETHDYDX), the native token of the dYdX chain, has witnessed a sharp increase of over 20% in value in the last day. What Happened: This price rally occurs with anticipation building as a massive token unlock date approaches for early investors and core team members in just 16 days' time.

Celestia's TIA token's recent market performance has not only caught the eye of investors but also marked a significant milestone in blockchain innovation. The TIA token's ascent to an all-time high of $6.41, as reported by CoinGecko, reflects an over 150% increase in just a week.

DYDX, the native token of the newly released eponymous chain and decentralized exchange, has risen by more than 20% in the past 24 hours, just 16 days before more than $500 million worth of the tokens will be released to early investors and core team members.

The dYdX Foundation that fosters the popular dYdX decentralized exchange has announced another big milestone as it seeks to migrate away from Ethereum to its own, Cosmos-based blockchain network.