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.
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