GAL, the native cryptocurrency of a Project Galaxy, had a noted increase following the announcement that two leading cryptocurrency exchanges, Binance and Coinbase, will support the toke’s trading on their platforms.
The new altcoin from Project Galaxy has already started to show some great potential in the industry since it was launched on Thursday. Project Galaxy presents itself as the largest Web3 credential data network.
At the time of writing this article, the token was trading for $18.07. Moreover, the GAL increased by over 22% in the last 24 hours. Professionals, as well as experts, anticipate that the Project might be taking the waves by storm in the near future.
Binance, Coinbase supports Project Galaxy
Confirming their support for Project Galaxy, Coinbase noted that they would add an experiment label to GAL. The experiment label is usually a strategy that coinbase uses to caution its users about the anticipated volatility of such altcoins. In most instances, the experimental label is added to new projects in the market that have low trading volumes, which is evident in the project Galaxy.
Binance, on the other hand, confirms support for the project. However, it added GAL in its ‘innovation zone,’ a space for projects and assets that are viewed to be vulnerable. In addition, this space also consists of projects without unstable prices. Binance does this as a tool to protect as well as caution its traders.
Project Galaxy marks the 30th project to go live on Binance Launchpad.
With the support of Binance and Coinbase, the GAL token attracted more crypto exchange platforms to join in this wave. For instance, KuCoin, situated in Seychelles, confirmed support for the project and went a step further to list it. FTX also has not been left behind as it also listed the project.
As per the platform’s web page, Project Galaxy promises to create “a collaborative credential structure that enables marketers to establish great communities and products in Web3.”
