Galxe (GAL) and PolyMesh (POLYX) Surge Over 8%, Here’s Why

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As a researcher with a background in blockchain technology and cryptocurrency markets, I find it intriguing to observe the recent price surges of two lesser-known altcoins – Galxe (GAL) and PolyMesh (POLYX). These coins have defied the broader market consolidation today by registering impressive 8% gains each, along with significant increases in daily trading volumes.

As an analyst, I’ve noticed two alternative coins, Galxe (GAL) and PolyMesh (POLYX), bucking the trend of the wider market consolidation today by recording impressive 8% gains each. This surge in value has been accompanied by a significant increase in daily trading volumes for both coins, soaring by approximately 500%. The recent listing of Galxe on South Korea’s largest cryptocurrency exchange, Upbit, could be contributing to its price growth. Likewise, the announcement of PolyMesh’s (POLX) listing on the second-largest exchange, Bithumb, may be fueling its upward momentum.

UPbit Add Support for Galxe (GAL)

Today, UPbit, South Korea’s largest cryptocurrency exchange, introduced new trading pairs for Galxe (GAL) with the Korean won. However, deposits and withdrawals can only be made on the guided network (Galxe-Ethereum). Before making any deposits, please ensure you have checked the network to avoid any potential issues.

As a crypto market analyst, I’d interpret this announcement as follows: The exchange has made it clear that for deposits and withdrawals to be processed, users must first undergo “ownership verification” using their personal wallet addresses. This new requirement comes less than a month after UPbit announced the addition of LayerZero (ZRO) to its listing.

As a crypto investor, I would describe Galaxy (Galxe) as follows: Galaxy is my go-to infrastructure platform that creates digital credentials based on both on-chain and off-line data for Web 3.0 applications. With Galaxy, I have the power to generate my own unique digital credentials through campaigns hosted on their platform.

For builders creating the next generation of the web (Web 3.0), having these credentials is essential. Galaxy’s utility token, named GAL, plays a crucial role within this platform. It allows users to take part in governance decisions and carry out digital asset transactions. Additionally, it functions as a payment method for various fees.

At the moment of writing this, I’ve observed that Galaxy’s GAL token has surged by 8.76%, reaching a price of $2.56 and boasting a market capitalization close to $300 million. The price spike took the GAL token all the way up to $2.9 earlier today, triggered by the exciting news of its listing on UPbit exchange. Notably, the daily trading volume for GAL has experienced a remarkable increase of over 700%, reaching an impressive $198 million.

Bithumb Adds Support for PolyMesh (POLYX)

As a crypto investor, I’ve noticed an exciting development in the world of altcoins today. Following Bithumb’s announcement that they would be listing PolyMesh (POLX), its price surged by approximately 8%, reaching a high of $0.27 earlier today. At this moment, POLYX is trading at around $0.2482 with a market capitalization exceeding $213 million and daily trading volumes experiencing a massive increase of over 500%, currently standing at approximately $81.2 million.

As a blockchain analyst, I would describe the PolyMesh platform as specifically engineered to accommodate regulated assets. This solution is equipped with features that cater to the needs of institutions, addressing complex issues related to governance, identity verification, confidentiality, regulatory compliance, and advanced settlement infrastructure.

As a token analyst, I can explain that I serve as the native protocol token of Polymesh, with my role being essential to its functioning. I’m utilized for various purposes such as staking to secure the network, paying transaction fees, and engaging in governance decisions.

Polymesh includes basic financial building blocks to keep operating costs low and stable, enabling the creation of decentralized apps (dApps) on its network.

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2024-07-11 14:34