Binance and Coinbase, the two largest exchanges in the crypto world, have added support for a brand new altcoin focused on developing the Web3 space. After the realization of two huge listings Project Galaxy (GAL) The price of the altcoin project has increased by more than 30 percent in the last 24 hours.
According to the exchange’s statement, Coinbase has implemented Project Galaxy for the company’s “assets that are new to their platform or have relatively low trading volume compared to the broader crypto market.” “Experimental Label” It was added to the platform with the (experimental entity) tag.
Coinbase uses this experimental asset tag to warn investors of their potential volatility.
“New asset: Coinbase has added support for Project Galaxy (GAL) with the tag Experimental.”
Similarly, Binance also offers GAL, a trading space reserved for assets that may be more prone to rapid price fluctuations. “Innovation Zone”also listed (Innovation Area). Project Galaxy is also the 30th project on the exchange’s staking protocol, Binance Launchpool.
“Binance is excited to announce that Project Galaxy (GAL), a Web3 credential data network, is the 30th project on the Binance Launchpool.”
What is Project Galaxy?
A new altcoin project Project Galaxy (GAL), It’s a platform that bills itself as the world’s largest Web3 credential data network, with a native token going live on Thursday. It helps Web3 projects and developers leverage digital identity data and NFTs to build better products and communities using selected credentials. Basically, credentials are just the records that make up our digital identity. Data curators collect this data and are rewarded for its use.
Project Galaxy aims to provide “a collaborative identity infrastructure that empowers brands to build better communities and products on the Web3,” according to the network’s website, which is among the altcoins considered by analysts to have potential.
Besides these, GAL has also listed on KuCoin, a Seychelles-based crypto exchange, and FTX, the popular Bahamas-based cryptocurrency exchange.
Having lost the vast majority of its gains, the GAL is trading at $15.12 at the time of writing, an increase of about 8 percent from its lowest level in the last 24 hours.
You can check the price movements here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, KoinFinans and the author of this content cannot be held responsible for personal investment decisions.