Top cryptocurrency exchanges Binance and Coinbase are listing a brand new web3 coin project focused on developing the Web3 space. Project Galaxy (GAL), a new altcoin, is promoting itself as the world’s largest Web3 credential data network and is trading at $15.71 at the time of writing.
Exchanges announce web3 coin listing
Project Galaxy is up more than 7 percent in the last 24 hours. Coinbase has added support for Project Galaxy with the “experimental” tag. “New asset: Coinbase will add support for Project Galaxy (GAL) with the tag Experimental,” the statement on Coinbase’s Twitter account read. As we reported on Kriptokoin.com , Coinbase adds the experimental tag to new projects with lower trading volume to alert investors of potential volatility.
Similarly, Binance has listed the GAL on the “Innovation Zone”, a trading space reserved for assets that may be more prone to rapid price fluctuations. “Binance is excited to announce Project Galaxy (GAL), a Web3 credential data network, as its 30th project in Launchpool,” Binance said in their statement. Additionally, Seychelles-based crypto exchange KuCoin and Bahamas-based popular crypto exchange FTX have also listed the project.
Project Galaxy (GAL), gaining momentum
According to the network’s website, Project Galaxy is “a collaborative identity infrastructure that empowers brands to build better communities and products on the Web3. “It aims to provide Project Galaxy provides the infrastructure for community members to edit and contribute digital credentials to the Galaxy Credential Data Network. The engine supports curation of credentials through multiple data sources.
Curators can contribute data from 7 different chains with subqueries or snapshots for on-chain credentials. They can also provide data from Twitter, Discord, Github or offline events for off chain credentials. Project Galaxy also provides Application Modules, Credential API, and a Credential Oracle Engine to help developers leverage credentials.
