Just-In: GALA V2 Gains Binance Support Amid Coinbase Rejection
GALA V2 News: Gala Games ecosystem will soon be going under a massive contract upgrade where holders will be issued new $GALA V2 tokens on a 1:1 basis for all $GALA. Binance, the world’s largest crypto exchange has decided to support the $Gala (GALA) contract swap when Coinbase chooses to stay away from it.
Also Read: Is XRP Lawsuit Ruling Key For Coinbase Against US SEC?
GALA To Perform Contract Swap
As per the announcement, Binance will be backing the contract swap on the Ethereum (ERC20) network. It added that the deposits and withdrawals of old GALA on the Ethereum (ERC20) network will be suspended and will not be supported henceforth.
However, Binance mentioned that it will be handling all technical requirements for all users holding $GALA on the crypto exchange. A separate announcement for the users will be made after the completion of the contract swap, it added.
Also Read: Why Didn’t Ripple Register XRP With US SEC? Brad Garlinghouse Replies
GALA announced that the snapshot/upgrade is scheduled to take place on Monday, May 15th. However, $GALA stored on the exchange, not on the list might not be recovered ahead.
However, GALA is on a constant decline as its price has dropped by a massive 22% over the last 7 days. It is trading at an average price of $0.028, at the press time. Its 24 hour trading volume is up by 7% to stand at $125 million.
- Galaxy Digital CEO Calls Next Fed Chair Bitcoin’s Bull Catalyst, Sets $200K BTC Target
- Experts Claim Bitcoin Crash to $94,334 Ahead As BTC Dominance Rebounds
- Expert Explains Pi Network–Sign Meeting, Says It Could Trigger Binance Listing
- Is Trump Family, Mr. Beast Buying ASTER Token? Rumors Gain Strength
- Solana ETF Update: Grayscale, Fidelity, Others Files S-1 With Staking, Approval Expected in Two Weeks
- Solana Price Set for Recovery Amid Wyckoff Accumulation and Canary Capital ETF Filing
- Avalanche Price Could Surge to $50 as Transactions Jump 200%
- CHMPZ Price Prediction:Will This Net-Zero Community Token be the Next Gem?
- Ethereum (ETH) Price Set for a rebound as Whales Accumulate $1.6B ETH and Outflows Hit $622M
- HYPE Price Prediction As Bitwise Files For Hyperliquid ETF – Is $55 In Sight?
- Shiba Inu Price Eyes Recovery From Demand Zone With Burn Rate Soaring Nearly 400%
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
