In an electrifying development in the world of digital gaming and blockchain technology, Galxe, a titan in web3 community building, has joined forces with METABORA SINGAPORE, a subsidiary of the gaming behemoth Kakao Games. This partnership marks a significant milestone for both entities, promising to revolutionize the gaming landscape by integrating Galxe’s community engagement prowess with BORA’s rich ecosystem of global games.
Unleashing Synergies: Galxe & BORA’s Unified Vision The collaboration between Galxe and BORA is poised to harness the dynamic capabilities of both platforms to enhance user acquisition and community growth across the board. Galxe’s extensive network and expertise in building vibrant web3 communities are set to play a pivotal role in bringing BORA’s captivating games and content to a broader audience.
Expanding Horizons: A New Era of Digital Entertainment This strategic alliance is not merely about collaboration but a fusion of strengths that aims to redefine the parameters of digital entertainment. By connecting BORA with Galxe’s wide array of network partners, the partnership endeavors to offer users an enriched and diversified digital experience, setting new benchmarks for engagement and immersion in the gaming world.
The Road Ahead: Innovations on the Horizon The union between Galxe and BORA is just the tip of the iceberg, with both entities hinting at a pipeline of innovative partnerships and developments poised to unfold. This collaboration is a testament to their commitment to pushing the boundaries of web3 entertainment, inviting gamers and tech enthusiasts to join them on a thrilling journey of discovery and advancement.
BORA Platform: A Beacon of Innovation and User Experience At the heart of this partnership is the BORA platform, a brainchild of METABORA SG, which stands out for its user-friendly blockchain-based games and entertainment content. Bolstered by Kakao Games‘ extensive experience in game development and service, BORA is set to revolutionize the gaming industry with its advanced tokenomics, engaging content, and cutting-edge blockchain technology. The platform’s focus on refining the Game-Fi infrastructure exemplifies its commitment to enhancing user experience and fostering a seamless digital ecosystem.
Galxe emerges as a powerhouse in fostering web3 communities, with a track record of supporting the exponential growth of platforms like Optimism, Polygon, and Arbitrum, alongside over 4,000 partners. Through its reward-based loyalty programs, Galxe has successfully engaged over 15 million unique users, underscoring its pivotal role in the evolution of web3 entertainment.
Conclusion The strategic partnership between Galxe and Kakao Games’ BORA Network heralds a new chapter in the convergence of gaming and blockchain technology. By leveraging their combined strengths, Galxe and BORA are set to embark on an ambitious journey to innovate, entertain, and build a future where the possibilities of web3 entertainment are endless. Gamers and enthusiasts around the globe are invited to be part of this groundbreaking venture.
AUTHOR
Max delves deep into the cryptocurrency realm, with a passion for altcoins and NFTs. Convinced of crypto's transformative potential, he envisions a decentralized financial future. Max's background in the financial sector grants him unique insights into global monetary systems. In his leisure, Max embraces the thrill of adventures and is an avid sports enthusiast, finding balance and rejuvenation away from work.
Altcoins News: The latest update from the Token Unlocks App reveals that six altcoins are readying to take the heat of increased market supply in the upcoming week. This is attributable to massive token unlocks, a phenomenon wherein previously locked tokens are released periodically into the market.
Notably, $138.8 million worth of cliff unlocks are looming to hit certain altcoins in the coming days. These tokens include AltLayer (ALT), Sace ID (ID), Ethena (ENA), Galxe (GAL), Yield Guild games (YGG) and Acala (ACA).
Here’s a brief report on the token unlocks that may serve as important Altcoin news for crypto market participants.
AltLayer (ALT) The AltLayer crypto is set to witness an unlock of a staggering 684.21 million ALT, worth $111.01 million, on July 25. This is equivalent to 42.08% of the circulating supply, raising severe investor concerns over future market implications.
ALT price traded at $0.1619 at press time, up 5.29% over the past day. Its 24-hour lows and tops are $0.1572 and $0.1729, respectively.
Space ID (ID) The Space ID token will witness an unlock of 18.49 million ID, worth $9.01 million, on July 22. This equals 4.29% of the coin’s circulating supply.
ID price traded at $0.4875, an increase of 5.70% from yesterday. The token’s 24-hour lows and highs were $0.4607 and $0.5011, respectively.
Ethena (ENA) Ethena prepares for an unlock of 14.89 million ENA, worth $7.32 million, on July 21. This totals 0.87% of the coin’s circulating supply.
ENA price traded at $0.493 today, an upswing of 6.97% over the past day. Ethena’s 24-hour slumps and peaks were recorded as $0.4699 and $0.5116, respectively.
Yield Guild Games (YGG) The Yield Guild Games crypto will experience an unlock of 14.08 million YGG, worth $7.56 million, on July 27. This amounts to 3.74% of the coin’s circulating supply.
YGG price traded at $0.5369, up 2.97% over the past day. The token’s 24-hour bottoms and tops were $0.5183 and $0.555, respectively.
Also Read: $149 Million of Altcoins Sold By WazirX Hacker to Buy 43,799 Ethereum
Galxe (GAL) The altcoin Galxe readies for an unlock of 1 million GAL, worth $3.60 million, on July 24. This is equivalent to 0.85% of the circulating supply.
The GAL price rested at $3.58 today, a decline of 5.78% over the past day. Its 24-hour bottoms and highs were $3.54 and $3.92, respectively.
Acala (ACA) Acala is set to face an unlock of 4.66 million ACA, worth $340.03k, on July 25. This totals 0.46% of the coin’s circulating supply.
ACA price stood at $0.07291, an upsurge of 2.53% from yesterday. The cryptocurrency’s 24-hour bottoms and peaks were $0.07132 and $0.0759, respectively.
Notably, the abovementioned token unlocks remain much eyed by market participants as investor concerns persist over this altcoin news, primarily due to supply increase.
Also Read: SHIB News: Massive 2.7 Tln Accumulation Fuels Hope For Shiba Inu To $0.0000386
Key NotesGalxe's $50M fund seeks to revolutionize blockchain ecosystems by supporting decentralized projects.The fund was backed by venture capital companies like HashKey Capital and DAO5, supporting Galxe's vision for decentralized innovation.Galxe has added an additional $5 million in grants to bolster innovation. Galxe, a leading Web3 identity and rewards platform, has announced the launch of a $50 million ecosystem fund to accelerate innovation within its newly upgraded Gravity blockchain.
According to an announcement on Tuesday, this initiative, known as the Gravity Ecosystem VC Alliance, seeks to support developers and projects in building high-performance decentralized solutions while expanding the capabilities of the blockchain’s ecosystem.
A $50M Boost for Blockchain Developers The Gravity Ecosystem VC Alliance was established to provide funding, resources, and strategic backing for developers aiming to create scalable and efficient applications on the Gravity blockchain. Prominent investors, including HashKey Capital, DAO5, Draper Dragon, and Spartan Group, supported the new initiative.
Galxe’s co-founder, Charles Wayn described the initiative as a vital step toward supporting innovative projects that align with the platform’s mission.
“We wanted to start to build out the ecosystem and allow more developers to come over and build here. The advantage of building on Gravity is that you get instant access to the 1 million daily active users of Galxe,” Wayn told Cointelegraph.
To complement the ecosystem fund, Galxe has also allocated an additional $5 million in developer grants to encourage further innovation. These grants aim to attract developers looking to capitalize on Gravity’s robust technical infrastructure and vast community of 31 million users.
Introducing Grevm 1.0 In addition to the ecosystem fund, Galxe has introduced Grevm 1.0, an open-source parallel Ethereum Virtual Machine (EVM) to upgrade Gravity. The new blockchain solution was developed using the Rust programming language to offer a simplified and more efficient alternative to traditional EVMs.
The Grevm 1.0 seeks to provide a better foundation for developers compared to existing solutions.
The Gravity network boasts impressive technical capabilities, including 1 gigagas per second throughput, sub-second transaction finality, and robust Proof-of-Stake (PoS) security.
The protocol launched its Alpha Mainnet in August 2024, marking a strategic shift away from centralized infrastructure. During the transition, Galxe moved its core applications — such as Passport, Quest, Compass, and Identity Protocol — on-chain.
Galxe provides developers with a decentralized framework to build and grow their projects independently. The full mainnet is scheduled for launch next year.
A Vision for Interconnected Innovation Gravity’s infrastructure supports seamless integration across 70 interconnected blockchains, enabling developers to build applications that cater to a wide array of use cases. Additionally, its native token, G, facilitates uniform payment for gas fees across these networks, simplifying user interactions and improving accessibility.
The blockchain also has its own native SDK dubbed “Gravity SDK”, currently under development. According to Galxe, the open-source toolkit will enhance developer capabilities by providing a streamlined framework for creating decentralized applications.
Xia has high ambitions for the SDK, noting that it is being developed to outperform existing solutions like the Cosmos SDK by offering greater flexibility and efficiency.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
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Chimamanda is a crypto enthusiast and experienced writer focusing on the dynamic world of cryptocurrencies. She joined the industry in 2019 and has since developed an interest in the emerging economy. She combines her passion for blockchain technology with her love for travel and food, bringing a fresh and engaging perspective to her work.
As blockchain networks grow and serve more users, their scale—measured by the volume of transactions and participants—can both solve and create challenges.
Blockchains running programs that automate agreements, like smart contracts, often face significant challenges, especially those with large, active user bases. Too many users are trying to do things simultaneously, and the Ethereum Virtual Machine (EVM) at its center simply can’t do all the transactions the ecosystem wants in quick succession, one after another. Limited space on the blockchain can also increase competition for inclusion in blocks, driving up transaction fees during times of heavy use.
If there’s one thing that stops a growing platform from keeping its users happy, it’s slow and expensive transactions on its applications. Web3 distribution platform Galxe, one of the crypto world’s busiest platforms with over 31 million users, sought to address these common issues when designing its own tailor-made blockchain, Gravity.
In August 2024, Gravity introduced its Layer 1 Blockchain with the launch of its alpha mainnet: a proof-of-stake (PoS) blockchain and smart contract platform, built specifically to cater to the needs of the Galxe community’s 31 million-strong user base.
What is Grevm 1.0?Grevm 1.0 is an open-source, parallel Ethereum Virtual Machine (EVM) runtime that is “the technological core” of Gravity, facilitating almost 800,000 daily transactions running on Galxe’s ecosystem. It’s based on revm, an EVM written in the programming language Rust.
What makes Parallel EVMs different from conventional EVMs is that they provide a way to run multiple transactions or smart contract operations simultaneously, rather than sequentially, which can help avoid performance bottlenecks during periods of very high demand.
How does Grevm work?Grevm uses an algorithm inspired by BlockSTM, a type of parallel execution engine, to run its smart contracts. BlockSTM was put together by a team of researchers from Aptos, Mystem Labs, UCL, Chainlink Labs and MIT in 2022. BlockSTM is inspired by an academic approach in computer science known as Software Transactional Memory (STM).
Galxe’s team enhanced BlockSTM using data derived from its simulation results. Grevm also uses Asynchronous I/O in its algorithm, a design feature that enables programs to do other tasks while waiting for input or output tasks to finish, instead of pausing and waiting.
According to Galxe, incorporating Asynchronous I/O, a feature not present in the vanilla version of BlockSTM, allows it to perform better in many circumstances, such as when high latency is present.
What's so special about Grevm?Galxe’s benchmark testing indicates that Grevm is the fastest current open-source parallel EVM implementation to date.
For transactions that are fully parallelizable, Galxe claims that Grevm can be 4.13× faster than sequential execution, running at up to 26.50 gigagas/s. When Galxe simulated a high latency environment of 100 μs, it was found to run 50.84x faster than sequential execution, with 6.80 gigagas/s throughput.
This leap in performance is attributed to both the use of parallelized execution and the integration of asynchronous I/O operations—enabled by parallelism—which further amplifies the speedup by efficiently overlapping I/O operations.
In practice, Galxe explained that Grevm’s ability to handle computations in parallel will “elevate” DeFi protocols and dapps running on Gravity’s network, by allowing them to execute multiple transactions in parallel, minimize latency, and boost throughput.
Who's building on Grevm and Gravity? Galxe Quest is a platform for building and engaging Web3 communities. Using a no-code solution, it allows numerous projects to create reward-based loyalty programs. Optimism, Arbitrum, Base and over 6,500 other Web3 projects use it to provide users with freebies like loyalty points and complementary NFTs. Galxe Passport is a digital identity product that allows users to securely store their identity information and use it across hundreds of supported applications. Galxe Score evaluates users based on their on-chain activities, project participation, and overall engagement in the Web3 community, providing a comprehensive view of their presence and reputation. Symbiosis is a cross-chain automated market maker (AMM) and decentralized exchange has integrated Gravity into its platform, which allows users to bridge assets between Gravity and over 35 blockchain networks. What is Gravity’s G token?The Gravity blockchain uses G as its native utility token, following a token migration from GAL in July. G is used to pay for gas fees on the network and to make payments on apps like Galxe Quest, Galxe Passport, and Galxe Score. G also grants users a variety of opportunities to participate in deciding the future of the Gravity network.
Users can stake their tokens to secure the network and participate in future governance decisions, deciding the future of the blockchain.
Where can you buy Gravity's G token?G can be purchased via major exchanges such as Binance, OKX, Upbit, and KuCoin. It’s also traded on decentralized exchanges (DEXs) such as Uniswap.
On Binance, you can buy G directly using USD; other exchanges offer trading pairs with Tether (USDT), USD Coin (USDC), Wrapped BNB (WBNB), or Wrapped Ethereum (WETH).
What does the future hold for Grevm?Grevm’s successor, Grevm 2.0, is pegged for release in early Q1 2025. The second iteration of Grevm will focus on refining parallel transaction processing to increase efficiency and precision. With continued testing and enhancements, Galxe expects that Grevm 2.0 will enable faster, more scalable solutions within Gravity’s ecosystem.
Grevm 2.0 will introduce fully Asynchronous I/O as well as “finer-grained” transaction-level concurrency, allowing related transactions to run in parallel once their dependencies are resolved.
Discover Grevm 1.0 here, or explore how Gravity is empowering projects to build scalable decentralized solutions with its $50 million initiative here.
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[PRESS RELEASE – New York City, New York, January 6th, 2025]
Galxe, web3’s largest onchain distribution platform, with over 30 million users and 6,000 partners, announces the launch of Galxe Earndrop, a cutting-edge token distribution tool that eliminates the complexities and inefficiencies often associated with airdrop campaigns and Token Generation Events (TGEs).
Designed to enhance user experience while streamlining processes for projects, Earndrop offers an automated, scalable solution for secure and transparent token distribution. Galxe Earndrop launches today in partnership with XRP, with additional partners including Solayer, Diam, Jambo, and SlamNet rolling out later this month, underscoring the platform’s reliability and market trust.
For projects, token distribution presents several technical and operational challenges:
Technical complexity: Custom token claim pages and eligibility checks require significant time and expertise. Security risks: Weak Sybil prevention exposes projects to bot abuse. Poor user experience: Clunky interfaces and confusing workflows lead to frustration and decreased trust. Reliability issues: Many unproven platforms are prone to bugs, creating an inconsistent process. “Token distribution shouldn’t be a roadblock to growth or community engagement,” said Charles Wayn, Co-Founder of Galxe. “ Galxe Earndrop allows projects to focus on their communities and products by providing a seamless, secure, and scalable solution for distributing rewards.”
Earndrop is revolutionizing airdrops for users, consolidating reward claims from multiple projects onto one platform. Users simply log in with their wallets, check eligibility, and claim tokens through an intuitive interface. By removing the need to navigate multiple platforms or worry about malicious links, Earndrop delivers the seamless experience users have been waiting for.
Galxe’s extensive track record ensures reliability, trust, and scalability for both Web3 projects and users:
Established trust: With millions of users and thousands of partners, Galxe minimizes the uncertainty of unfamiliar links and platforms. Proven reliability: Galxe’s infrastructure ensures accuracy and eliminates the bugs often seen in token claim processes. Enhanced security: Leveraging Sybil prevention and credential verification mechanisms, Earndrop guarantees a secure distribution process. As the web3 ecosystem grows, tools like Earndrop are essential to removing friction in the user and project experience. With Earndrop, Galxe delivers a solution that fosters trust, efficiency, and growth—helping blockchain projects focus on building stronger connections with their communities.
For more information about Galxe Earndrop and how it’s reshaping token distribution, users can visit XRP Earndrop homepage.
About Galxe:
Galxe is a decentralized super app and web3’s largest onchain distribution platform, empowering seamless web3 experiences through AI, digital identity, and blockchain technologies. Through its robust infrastructure and product suite — Quest, Passport, Score, Compass, Alva, and Earndrop — Galxe offers advanced tools and self-sovereign digital identity management to empower users to explore Web3 effortlessly.The recent introduction of Gravity, a Layer-1 blockchain designed for omnichain experience and full-chain abstraction, enables developers to tap into Galxe’s 30 million users and create new products that help onboard the world to web3.
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We haven’t heard much about Sony’s Layer-2 blockchain Soneium since its testnet’s introduction in 2023. Now, the company has announced a four-week contest where creators, developers, and users can explore Soneium’s capabilities.
The campaign will be hosted on the Galxe platform and will focus on gaming, communication, and creativity.
Sony is heavily invested in media production and distribution through Sony Pictures and Sony Music, so Soneium gives power back to artists, game developers, and fans through accessible, inclusive content.
This sense of unity lies at the core of Web3 philosophy, particularly decentralized autonomous organizations (DAOs) like Lido and MANTRA. Community governance drives these projects toward shared goals and is often more effective than centralized decision-making.
If Soneium gains mainstream adoption, these DAOs could also benefit from growing demand for projects that put the community first.
1. Wall Street Pepe ($WEPE) Raises $63M with Community-Centric Approach Wall Street Pepe ($WEPE) is an interesting DAO-like crypto project. Still on presale, it raised over $63M, becoming the second-most-popular presale to date (behind only Pepe Unchained).
The reason for such strong momentum is community support against institutional investors – presale buyers have become tired of whales manipulating the market and decided to rise up against them.
$WEPE holders will receive key trading insights to help them find hidden crypto gems and profit like never before.
While technically not a DAO, Wall Street Pepe checks all the boxes of one:
Strong community incentives and a loyal foundation Rewarding users for participating in ecosystem decisions The project is all about giving power back to the unbanked and creating a freer crypto market where regular traders don’t get hoodwinked by large whales.
The concept of DAOs is not new, but never before has a project encouraged active participation this way. In traditional DAOs, users often forget to exercise their governance rights because they don’t have a strong incentive. Wall Street Pepe changes this.
The presale hasn’t ended; there’s still an opportunity to buy $WEPE at a low price and join this rapidly growing community. Experts predict $WEPE to surge 100x after it’s listed on exchanges.
2. MIND of Pepe ($MIND), an AI Agent with a Bright Future MIND of Pepe ($MIND) is another community-centric meme coin presale that takes a different approach to DAO-based rewards.
The AI agent will curate crypto recommendations and insights after analyzing trends and crypto intelligence in real time.
Better yet, this will be an automated process. The AI will interact with influencers and engage with decentralized communities and platforms all by itself.
Although not a traditional DAO project, $MIND behaves like one in every way. Holders will receive exclusive rewards in the form of crypto insights and analyses.
And everyone is incentivized to HODL and contribute to the ecosystem by staking their tokens. So far, over 670M tokens have been staked for a jaw-dropping 522% APY.
One $MIND is now $0.0032144, and the presale has raised $4.2M, with the price increasing in the next 14 hours.
Considering the AI industry is estimated to reach $826B by 2030, it’s easy to see how AI agent projects like $MIND are catching so much investor attention.
3. Audius ($AUDIO), With Soneium, Might Reignite the Decentralized Music Revolution Audius is an established project that hit the market in 2020. However, after the initial hype wore off, it struggled to gain adoption, and the value of the $AUDIO token dropped from $4 to $0.13.
The Soneium mainnet launch might breathe new life into $AUDIO.
Audius is a decentralized music streaming protocol that gives creators full control over their content. It also connects artists with fans through direct messaging and live streams.
Traditional music streaming apps like Spotify take up to 70% of artist revenue. This means that indie creators can barely earn enough for coffee, so Audius implements a tipping system where artists get 100%.
Soneium’s and Audius’ vision aligns, so the project might very well migrate from Solana to this new network in the future.
4. MANTRA ($OM) Surges 4,503% Year-to-Date, New Records Ahead? MANTRA ($OM) is the second-largest DAO token with a $4.4B market cap. It grew 4,503% since January 2024 and hit a new all-time high of $5 three days ago.
What’s so special about it? And is this the top?
MANTRA is a decentralized finance protocol that offers services like staking, lending, and real-world asset tokenization. But community-led governance is one of MANTRA’s main appeals.
On top of that, MANTRA integrates the Cosmos ecosystem for interoperability with other blockchains through the Inter-Blockchain Communication protocol.
As an Ethereum-based project, MANTRA could also integrate with Soneium and lead as an example for other DeFi platforms on the network.
Final Remarks The main difference between Web2 and Web3 isn’t the technology – it’s the vision. Projects like Soneium, Wall Street Pepe, MIND of Pepe, Audius, and MANTRA create new governance and economic models where anyone can make an impact.
But remember, while these projects hold much promise, no gains are guaranteed in the crypto world. We remind you to DYOR and diversify to offset potential losses.
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
Trading agents that autonomously manage crypto wallets and optimize portfolios based on vast data sets top the list of practical applications exciting Charles Wayn, co-founder of Galxe and Gravity, as AI and Web3 converge.
In an interview with Benzinga over the weekend, Wayn detailed how these vertical AI agents, tailored for crypto trading, leverage blockchain's transparency and AI's analytical power to outpace traditional financial advisors, signaling a shift toward automated, data-driven investing.
His insights, drawn from Galxe's work with over 25 million users and Gravity's Layer-1 blockchain, highlight a burgeoning trend in the Web3 space.
Wayn pinpointed trading agents as a standout use case, emphasizing their potential to transform how users interact with crypto markets.
"Trading agent for crypto is the biggest use case in my opinion," he said.
"An agent that gives you all the information you need, sends you all the information you care [about], and operates your wallet, or even based on your preset risk preference, automate[s] your portfolio for you."
Unlike general AI tools like ChatGPT, these agents require deep domain knowledge, pulling from crypto-specific data—on-chain transactions, Twitter sentiment, and market trends—to execute trades and manage assets with precision.
Galxe, a decentralized super app and Web3's largest on-chain distribution platform, already supports this vision. Wayn highlighted their product Alva, a crypto-savvy AI tool, as part of this push.
He noted that trading agents' access to comprehensive data sets them apart: "They have the agent itself supposed to have more access to more information than any financial advisor because they know everything everywhere."
This capability, he argued, allows agents to aggregate insights across blockchains and social platforms, delivering real-time decisions that traditional systems can't match.
Also Read: Stablecoins Are Future Of Commerce, Says Base’s Tom Vieira
The trend extends beyond crypto, with potential applications in traditional finance looming on the horizon.
Wayn's excitement stems from a broader AI agent narrative he sees driving the next market cycle.
Vertical AI agents, unlike their general counterparts, focus on niche industries—crypto trading being a prime candidate due to its data-rich, fast-paced nature.
He contrasted this with past Web3 tools like tokens, which bootstrapped communities but lacked longevity without sustainable revenue models.
Trading agents, he suggested, thrive on utility, not gimmicks, reducing the need for token incentives.
Companies on Solana (CRYPTO: SOL) and Galxe's own ecosystem are already exploring this, though Wayn cautioned that success hinges on delivering tangible value, not just launching tokens.
The interview also touched on Galxe's broader mission. Gravity, their high-performance Layer-1 blockchain launched in 2024, enhances cross-chain interoperability, supporting applications like trading agents by simplifying data access across ecosystems.
Wayn's experience—from co-founding DLive to steering Galxe's 1 million daily active users—shapes his pragmatic view: Web3 must prioritize real applications with revenue, a lesson from past market downturns.
Trading agents, with their blend of AI and blockchain, embody this shift, promising a future where automation and trust redefine financial engagement.
Read Next:
Crypto’s Trump-Era Honeymoon Fades As Regulatory Reality Sets In Image: Shutterstock
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Galxe, a top Web3 platform for identity and credential infrastructure, has officially integrated with an Arbitrum-based DeFi-native L3 Superposition. The partnership is poised to considerably improve the DeFi infrastructure by merging the strengths of Galxe and Superposition. The platform revealed this joint effort in a recent social media post.
Galaxy and Superposition Integrate to Advance Decentralized Infrastructure The partnership leverages Galxe’s resilient tools for on-chain identity and the cutting-edge trading architecture of Superposition. The Arbitrum ecosystem-based Superposition operates as an advanced L3 protocol to exclusively facilitate DeFi applications. It delivers a suite of new features taking into account an on-chain order book, account abstraction, as well as permissionless and shared liquidity tools. The respective tools intend to streamline consumer experience while offering cost-efficient and rapid transfers to traders and developers.
The integration with Galxe permits Superposition to utilize seamless decentralized identity validation, reputation-building, and credential issuance capabilities. This could significantly serve in providing relatively sophisticated use cases dealing with DeFi. They include Sybil-resistant airdrops, identity-associated governance engagement, and access to diverse financial products.
Driving Permissionless Innovation, Scalability, Interoperability, and Privacy As per Galxe, Superposition’s integration aims to enhance scalability, interoperability, and privacy. With this, Superposition reaches a robust community of users and developers to redefine the DeFi future. The mutual endeavor signifies the shared commitment of both the entities to permissionless innovation as well as open ecosystems. It also underscores a promising move to further evolve the overall Web3 infrastructure.
AUTHOR
Umair Younas is a cryptocurrency-related content writer linked with this work since 2019. Here, at Blockchainreporter, he serves as a news and article writer. He is a crypto, blockchain, NFTs, DeFi, and FinTech enthusiast. He has strong command over writing authentic reviews about brokers and exchanges and he has collaborated with our education team to write educational content as well. He has a dream to raise awareness among people about digital currencies. His works are well-researched and brimmed with information hence they provide fresh insights. Stay tuned to his posts if you want to stay up-to-date with the crypto-verse.
Upbit, South Korea's largest cryptocurrency exchange, started the day with altcoin announcements. At this point, Upbit announced that it would list a new altcoin and stated that this altcoin is Galxe (GAL).
Upbit announced that it will list GAL on KRW trading pairs.
“On July 11, 2024, GAL will be added to the KRW market on Upbit.
Listing for GAL is planned on the KRW trading pair on the Ethereum network.
Be sure to check the network before depositing digital assets. Deposits and withdrawals via networks other than those specified are not supported.”
It's on my second list too! Apart from Upbit, listing news also came from South Korean stock exchange Bithumb. At this point, Bithumb, South Korea's second largest cryptocurrency exchange, announced that it has listed the altcoin named PolyMesh (POLYX).
Bithumb announced that it will list POLYX on KRW trading pairs.
“On July 11, 2024, POLYX will be added to the KRW marketplace on Bithumb.
Listing for POLYX is planned on the KRW trading pair on the Polymesh network. Deposits via other networks are not supported.”
After the listing news, GAL and POLYX prices started to rise. While GAL experienced an increase of up to 30%, it gave back some of its gains.
POLYX, on the other hand, increased by up to 12%.
*This is not investment advice.
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Metars Genesis price surged 80% as Bitcoin has held steady above the $100,000 level.
The crypto market cap shows no major momentum in the last 24 hours. Bitcoin (BTC) surpassed the $103,100 level at the last check Sunday.
Source: CoinGecko As per CoinGecko data in a comparison of the top 300 coins, Metars Genesis has emerged as the top gainer in the last 24 hours.
Metars has spiked over 80% from a 24-hour low of $3.76 to as high as $11.32. The coin’s price has also seen a more than 200% uptick in the last 30 days.
The exact reason for the rally was not immediately clear. Being an NFT platform, the recent surge in NFT sales volume could be one primary reason for the positive price action.
MRS 24H price chart from CoinGecko Galxe The price of Galxe (GAL) has spiked close to 50%, with its price surging over 100% in the last 30 days. Galxe has hinted about an Earndrop with a cryptic tweet.
The project has also announced that native Solana (SOL) assets are live on their platform.
All these developments have helped the project’s price rise from $2.28 in the last 24 hours to as high as $3.85.
Source: CoinGecko GAL is the native cryptocurrency of Galxe, a Web3 credential data network that enables developers and projects to build customized user experiences using on-chain and off-chain credential data.
The token was created by Galxe founders Harry Zhang and Charles Wayn.
Third on the list of the top gainers is Shiro Neko (SHIRO) with its 40% price surge. The token recently received support from the Shiba Inu (SHIB) team.
And on the official X account, SHIRO confirmed that it was coming to Shibarium.
The world of cryptocurrencies is about to witness a significant event that demands the attention of crypto market investors-token unlocks. This event could potentially impact the market supply of three cryptocurrencies, Ethena (ENA), Galxe (GAL), and Hashflow (HFT), leading to a bearish trend in the industry. According to insights from the Token Unlocks App, these tokens are expected to experience massive unlocks, with approximately $58 million worth of coins collectively set to be released in the coming days.
Let’s take a closer look at the three cryptocurrencies that are bracing for a substantial increase in supply pressure in the near future due to token unlocks.
Eethena (ENA) According to the insights offered by the Token Unlocks App, Ethena (ENA) will absorb the impact of a $47 million token unlock. On June 1 at 11:00 PM UTC, 53.6 million ENA, equivalent to 3.62% of the circulating supply, will be released into the market. This could bring about a significant shift in ENA’s price action, as increased supply is often viewed as a bearish sign among traders.
Meanwhile, ENA’s price jumped 2.69% over the past day and is trading at the $0.8896 price level. Its daily peaks and lows are $0.8642 and $0.9075, respectively.
Galxe (GAL) Galxe (GAL) is another crypto that will face a token unlock worth $7.32 million coins. According to the data, 2.03 million GAL, worth 1.76% of the circulating supply, will be unlocked on June 05, at 12:00 AM UTC.
GAL’s price dipped 2.77% in the past 24 hours to $3.61. Its bottoms and tops for the day are $3.61 and $3.78, respectively. As mentioned above, a significant increase in supply could potentially drive the price to a slump.
Also Read: XRP Whales Accumulate 100M Coins From Binance, Price Rally Inbound?
Hashflow (HFT) The last crypto on the list that traders would want to avoid trading this week is the HFT token. According to the data, HFT is set to witness a token unlock worth $3.96 million. On June 07 at 12:00 AM UTC, 13.85 million HFT tokens will be unlocked, worth 3.41% of the circulating supply. This significant amount could bring a more remarkable price action shift.
As of writing, the HFT token traded at $0.2892, down 1.74% over the past day. Its 24-hour lows and highs are $0.2891 and $0.2995, respectively.
Also Read: Japanese Crypto Exchange DMM Bitcoin Loses $300 Million Worth of BTC In Latest Leak
Token unlock events release previously restricted tokens, often tied to fundraising agreements. These events are planned carefully to manage market impact and support price stability.
Here are five important token unlocks scheduled for today and the upcoming week.
XRP Although XRP had no scheduled vesting period today or in the common weeks, it experienced a surprising token unlock today on February 2.
Data from Whale Alert showed that 400 million XRP tokens – worth around $1.13 billion – were unlocked today by Ripple. However, the entire supply of the unlocked tokens won’t enter the market.
Ripple will only use a small portion of the tokens to select activities. The remaining tokens will be locked back into custody.
However, such a major token unlock could potentially impact the XRP price in the market.
XRP Token Unlock Today. Source: Whale AlertXRP is currently the third-largest cryptocurrency in the market, with a capitalization of over $160 billion. Despite a 300% rally since Trump’s election victory in November, XRP has shown some bearish signals in recent weeks.
Jito Labs (JTO) Unlock Date: February 7 Number of Tokens to be Unlocked: 11.3 Million JTO Current Circulating Supply: 289.4 Million JTO Jito Labs is a leading Solana MEV (Maximum Extractable Value) infrastructure company. It develops high-performance systems to improve the Solana blockchain’s efficiency and performance.
The company offers a liquid staking solution, allowing users to stake SOL tokens and receive JitoSOL in return. The JTO token is the governance token for the Jito Network, allowing holders to participate in key decisions shaping the network’s future.
JTO has a total supply of 1 billion tokens. Currently, around 289.4 million JTO tokens are in circulation. On February 7, the network will unlock an additional 11.3 million tokens worth around $33,89 million.
According to Cryptorank data, these tokens will be distributed to the network’s core contributors and investors.
JTO Unlock. Source: CryptorankGalxe (GAL) Unlock Date: February 5 Number of Tokens to be Unlocked: 5.18 Million GAL Current Circulating Supply: 127.7 Million GAL Galxe is a decentralized super app and Web3’s largest on-chain distribution platform. The platform offers various applications, including Galxe Quest, Galxe Compass, Galxe Passport, and Galxe Score, which enable user engagement and credential management.
The native utility token of the Galxe ecosystem is the GAL token, which powers transactions and serves as the gas token on the Gravity chain.
Galxe has a total supply of 200 million GAL tokens, with 70.5% token, around 127.7 million currently in circulation. On February 5, the network will unlock an additional 5.18 million GAL tokens.
The newly unlocked tokens will be distributed across the ecosystem. The lion’s share of the unlocked tokens – around 3.2 million – will go to investors or growth backers. The rest of the GAL tokens will be distributed among the community members, project team, partners, and advisors.
GAL Unlock. Source: CryptorankTARS AI (TAI) Unlock Date: February 2 Number of Tokens to be Unlocked: 26.7 Million TAI Current Circulating Supply: 586.6 Million TAI TARS AI is an AI-driven platform on the Solana blockchain that facilitates seamless Web2 to Web3 transitions with scalable solutions.
TAI has a total supply of 1 billion tokens, with 59.4% still locked. Today, February 2, an additional 2.68%—26.7 million TAI tokens—will be unlocked. The tokens will be distributed among all major stakeholders of the platform.
The largest portion will be distributed to the platform’s ‘AI to Earn’ feature. The rest will be distributed among liquidity and market makers, project teams, community airdrops, and investors.
TAI Unlock. Source: CryptorankNeutron (NTRN) Unlock Date: February 3 Number of Tokens to be Unlocked: 9.96 Million NTRN Current Circulating Supply: 284.8 Million NTRN
Neutron (NTRN) is a permissionless smart contract platform built using Tendermint and the Cosmos SDK. It enables inter-chain smart contract deployment and supports Inter-Blockchain Communication (IBC) protocol.
This allows developers to create cross-chain applications with enhanced security and interoperability features.
NTRN has a total supply of 1 billion tokens, with only 22% currently circulating. The upcoming token unlock will see 9.96 million NTRN tokens worth around $2.38 million enter the market. These tokens will be distributed among team members, investors, and advisors.
NTRN Unlock. Source: CryptorankNext week’s token unlock will also include Tribal Token (TRIBL), NEON, and Automata Network (ATA), among others. Overall, around $70 million worth of new tokens will be unlocked.
The ever-evolving crypto world is moving toward massive token unlocks as per tokenomics. As per the data from Phoenix Group, the approaching token unlocks take into account, Sleepless AI, Ethena, And Galxe in the prominent positions. The crypto analytics firm took to social media to disclose the list of these impending token unlocks.
Sleepless AI Dominates Top Impending Token Unlocks with 1.72% of Supply to Be Released In Phoenix Group’s list of top token unlocks, Sleepless AI ($AI) takes the leading position for its occurrence before the rest. The crypto project is reportedly going to witness 1.72% of its token supply in the latest unlock, denoting 17.25M $AI ($5.47M). The 4th of February is the date scheduled for this token unlock. The 2nd major token unlock is Ethena ($ENA) with 7.93M $ENA ($4.99M) tokens to be unlocked on 5th of February. This accounts for a 0.25% of the project’s cumulative token supply.
Galxe ($GAL) is the top 3rd project in the case of prominent approaching token unlocks. Hence, a 2.59% of the supply thereof will be unlocked on the 5th of this month, accounting for $9.31M (5.18 $GAL). The next project is Kaspa ($KAS) to witness 0.67% of its supply in the token unlock to occur on February 5. This takes into account 172.01M $KAS tokens (nearly $17.10M). Subsequently, Jito ($JTO) is going to see a token unlock of 1.13% supply on the 7th of February. Thus, cumulative 11.31M new $JTO tokens will be available, accounting for $32.89M.
The 6th name on the list is Neon ($NEON), with 53.91M $NEON tokens ($14.30M) to be released on February 7. This amount reportedly equals 5.50% of the cumulative token supply of the project. In addition to this, the 7th rank in the list is obtained by Xterio ($XTER) as the project will release up to 5.50% of its total token supply. Thus, on the 8th of this month, 55.00M $XTER tokens will newly enter the market. The respective figure is equal to a great value of approximately $31.21M.
Xai Bottoms List with 2.32% of Supply to Be Released on February 9 Phoenix Group’s list of top impending token unlocks adds Movement ($MOVE) in the 8th place. The project has reportedly scheduled a token unlock of up to 50.00M $MOVE, equaling a staggering $31.21M for the 9th of February. This value represents 0.50% of Movement’s overall token supply. The last project in the list is Xai ($XAI) which will release 2.32% of its token supply on February 9. This comprises 355.89M $XAI tokens (nearly $3.78M).
AUTHOR
Umair Younas is a cryptocurrency-related content writer linked with this work since 2019. Here, at Blockchainreporter, he serves as a news and article writer. He is a crypto, blockchain, NFTs, DeFi, and FinTech enthusiast. He has strong command over writing authentic reviews about brokers and exchanges and he has collaborated with our education team to write educational content as well. He has a dream to raise awareness among people about digital currencies. His works are well-researched and brimmed with information hence they provide fresh insights. Stay tuned to his posts if you want to stay up-to-date with the crypto-verse.
