In a significant move, $GAL has announced its rebranding to $G, causing a 50% surge in its value over the past 24 hours.
This development has attracted the attention of smart traders, with one notable wallet, 0xf26ce, purchasing $264.82K worth of $GAL two days before the rebranding announcement.
This wallet had been inactive for two months and made recent buy orders solely focused on $GAL, indicating strong confidence in the token’s potential.
The rebranding involves more than just a name change. Galxe is transitioning to Gravity, and the ticker will change from $GAL to $G.
This transformation is accompanied by a redenomination, shifting from a 1:1 ratio to 1:60. Binance has already announced its support for this rebranding and redenomination, further solidifying the token’s new identity in the market.
Holders To Receive 60 $G Token During 1:60 $GAL Redistribution Ratio
The strategic timing of this move has proven beneficial, as the value of $GAL has seen a substantial increase. The redenomination to 1:60 means that for every $GAL, holders will now receive 60 $G, enhancing the token’s liquidity and appeal. This change is expected to attract more investors and traders, as seen with the smart wallet’s significant purchase.
$GAL Is Rebranding To $G: Pump 45% In The Past 2 Hours 😏
Notably, a Smart Wallet 0xf26ce (https://t.co/YC4U6BVJ8e) has purchased $264.82K worth of $GAL (almost his entirety of USDC balance) 2 days prior. Interestingly, this wallet had been inactive for last two months, and the… pic.twitter.com/avBJOwHdqU
— iCrypto | Sentiment & On-chain Analysis (@iCryptoAI) July 18, 2024
The market’s positive response to these announcements highlights the growing confidence in $GAL’s future as $G. With Binance’s backing and the strategic rebranding efforts, the token is poised for further growth. Traders and investors are advised to keep an eye on this evolving situation as $G continues to gain traction in the crypto market.
In summary, $GAL’s rebranding to $G, along with the strategic redenomination, has resulted in a 50% price surge. The involvement of notable smart traders and Binance’s support signals a promising future for the token, making it a significant player to watch in the cryptocurrency space.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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