Two altcoins – Galxe (GAL) and PolyMesh (POLYX) – have defied the broader market consolidation today registering 8% gains each and daily trading volumes skyrocketing by 500%. Thanks to the recent listing of Galxe by South Korea’s largest cryptocurrency exchange Upbit. Similarly, the second largest exchange Bithumb announced the listing for PolyMesh (POLX).

UPbit Add Support for Galxe (GAL)

Earlier today, South Korea’s largest crypto exchange UPbit introduced the Galxe (GAL) trading pairs with the Korean won. “Deposits and withdrawals are only supported on the guided network (GAL-Ethereum). Please check the network before depositing,” noted UPbit. 

The crypto exchange stated that deposits and withdrawals would only be possible with the personal wallet addresses having completed ‘ownership verification’. The latest listing comes within three weeks of UPbit announcing the listing of LayerZero (ZRO).

Galaxy (Galxe) is an infrastructure platform that provides digital credentials depending on the on-chain and off-chain data for Web 3.0 applications. It gives users the ability to generate their own digital credentials via campaigns hosted on the Galaxy platform.

These credentials are valuable for developers constructing the Web 3.0 ecosystem. Galaxy’s utility token, GAL, facilitates governance participation, and digital asset transactions within the platform, and serves as a payment method for associated fees.

As of press time, Galaxy’s GAL token is taking 8.76% up at $2.56 claiming a market cap of just under $300 million. The GAL price skyrocketed all the way to $2.9 earlier today following the UPbit listing news. GAL’s daily trading volume is up by 737% all the way to $198 million.

Also Read: Upbit Listing for ZETA and OMNI Leads Up to 40% Price Rally

Bithumb Adds Support for PolyMesh (POLYX)

Soon after the announcement of the crypto exchange Bithumb listing PolyMesh (POLX), the altcoin’s price skyrocketed 8% moving all the way to $0.27 earlier today. As of press time, POLYX is trading $0.2482 with a market cap of over $213 million and daily trading volumes skyrocketing by 500% moving all the way to $81.2 million.

Designed for regulated assets, the PolyMesh blockchain offers institutional-grade capabilities. It addresses challenges in governance, identity verifications, confidentiality, compliance, and settlement infrastructure.

POLYX serves as Polymesh’s native protocol token, used for staking, securing the network, paying transaction fees, and participating in governance.

Polymesh incorporates essential financial primitives to maintain minimal fixed operational costs, supporting the development of decentralized applications (dApps) on its platform.

The post Galxe (GAL) and PolyMesh (POLYX) Surge Over 8%, Here’s Why appeared first on CoinGape.

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Filed under: News - @ July 11, 2024 11:25 am