Singapore-based digital asset change Crypto.com is following within the footsteps of different high exchanges and itemizing a brand new Ethereum (ETH)-based altcoin targeted on creating the Web3 house.
The mission’s native token, GAL, simply launched earlier this month and has seen its value plummet almost 75% from an all-time excessive of $18.32 on Might sixth to $4.71 at time of writing.
GAL is used for governance within the Mission Galaxy decentralized autonomous group (DAO). GAL token holders can set the platform charges collected by the protocol, they usually management funds held by the Mission Galaxy Neighborhood Treasury.
Binance and Coinbase both listed Mission Galaxy earlier this month, every attaching a particular label to the asset.
Coinbase added an experimental label to GAL, which it typically does for brand spanking new tasks with decrease buying and selling volumes as a way to warn traders about their potential volatility.
Binance listed the token in its “Innovation Zone,” a devoted buying and selling house for belongings that may very well be extra vulnerable to speedy value swings.
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