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

Galxe (GAL) and PolyMesh (POLYX) have outperformed the market today with both coins gaining 8% each, accompanied by a staggering 500% increase in daily trading volumes.
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Galxe (GAL) and PolyMesh (POLYX) Surge Over 8%, Here’s Why

Highlights

  • Galxe (GAL) and PolyMesh (POLYX) saw a staggering 500% increase in daily trading volumes.
  • UPbit listing supports GAL deposits and withdrawals exclusively through the GAL-Ethereum.
  • POLYX, the native token of the Polymesh blockchain designed for regulated assets, is in strong demand.

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).

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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

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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.

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Bhushan Akolkar

Bhushan is a seasoned crypto writer with over eight years of experience spanning more than 10,000 contributions across multiple platforms like CoinGape, CoinSpeaker, Bitcoinist, Crypto News Flash, and others. Being a Fintech enthusiast, he loves reporting across Crypto, Blockchain, DeFi, Global Macros with a keen understanding in financial markets. 

He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills. Bhushan has a bachelors degree in electronics engineering, however, his interest in finance and economics drives him to crypto and blockchain.

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