Top crypto exchanges Binance and Coinbase are listing a brand-new altcoin focused on developing the Web3 space.
The new altcoin, Project Galaxy (GAL), bills itself as the largest Web3 credential data network in the world with a native token that just went live on Thursday, trading for $18.07 at time of writing.
Project Galaxy is up more than 22% in the past 24 hours.
Coinbase added support for Project Galaxy with an “experimental label.”
“New asset: Coinbase will add support for Project Galaxy (GAL) with the Experimental label.”
Coinbase adds an experimental label to new projects with lower trading volume to warn traders about their potential volatility.
Similarly, Binance listed GAL in its “Innovation Zone,” a dedicated trading space for assets that could be more prone to rapid price swings.
“Binance is excited to announce the 30th project on Binance Launchpool – Project Galaxy (GAL), a Web3 credential data network.“
Project Galaxy also became the 30th project on Binance Launchpool, the exchange’s staking protocol.
Project Galaxy aims to provide “a collaborative credential infrastructure that empowers brands to build better communities and products in Web3,” according to the network’s website.
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/sdecoret/Sensvector