$GALA Why Gala doesn't increase in price, said by a founding node owner
As a token investor, I have no idea, but I don't see how this would have a positive impact. The full downward pressure on the token was never the node operators...it was also the company.
The community has liquidated heavily too. If we consider that there is 26b roughly that they have received over the last five years, and half of the 3.3b in Mint Allowances belong to node operators, that like 24b, when you add in the 262m still held by the addresses that received distro as of yesterday. 3.9b was given to Gala as revenue according to the 2023 burn, but some of that can be assumed to have been sold and bought on the open market, so we just aren't going to touch it. However, including it would make the amount sold by Gala and the amount sold by the community almost exactly the same.
Does something need to happen to prop up the token price? Sure...the company depends on it. Is this the right answer? Well, looking at the distro to see all of the node operators and how almost NONE of them have any large amount of Gala and regularly sell, I don't expect that to change. Of the top 100k holders on ETH, 1500 of them were in the published Gala distribution list yesterday...and those 1500 hold 262m $GALA...of .69% of the 38b tokens held by the top 100,000 addresses. Everything else has been sold. That 269m will be replaced in under two months, so pretty much everyone has been selling forever.