Singapore-based digital asset trade Crypto.com is following within the footsteps of different prime exchanges and itemizing a brand new Ethereum (ETH)-based altcoin centered on growing the Web3 house.
The venture’s native token, GAL, simply launched earlier this month and has seen its value plummet practically 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 Venture Galaxy decentralized autonomous group (DAO). GAL token holders can set the platform charges collected by the protocol, and so they management funds held by the Venture Galaxy Group Treasury.
Binance and Coinbase both listed Venture 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 new initiatives with decrease buying and selling volumes in an effort to warn traders about their potential volatility.
Binance listed the token in its “Innovation Zone,” a devoted buying and selling house for property that may very well be extra vulnerable to speedy value swings.
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