- Today, Galxe (GAL) and PolyMesh (POLYX) have seen impressive market performance, each gaining 8%.
- Both cryptocurrencies experienced a 500% surge in daily trading volumes, indicating strong investor interest.
- Notably, UPbit now supports listing of Galxe (GAL), and Bithumb has added PolyMesh (POLYX) to its offerings.
Find out how Galxe (GAL) and PolyMesh (POLYX) are outperforming the market today and what triggered their significant price and volume surges.
GAL and POLYX: Market Performers of the Day
Galxe (GAL) and PolyMesh (POLYX) have caught the eye of investors today with their remarkable price gains and trading volume growth. Both tokens have appreciated by 8%, a noteworthy outcome amid a generally consolidating market. The driving forces behind these gains include crucial developments on major cryptocurrency exchanges.
UPbit Adds Support for Galxe (GAL)
In an important development, UPbit, South Korea’s leading cryptocurrency exchange, has introduced Galxe (GAL) trading pairs with the Korean won. However, the exchange has specified that deposits and withdrawals can only be conducted via the GAL-Ethereum network. This decision is a part of their stringent security measures to ensure verified ownership of wallet addresses. This listing follows UPbit’s recent addition of another token, LayerZero (ZRO), highlighting their commitment to expanding trading options.
Bithumb Includes PolyMesh (POLYX) in Its Listings
PolyMesh (POLYX) has also garnered significant attention following its listing on Bithumb, South Korea’s second-largest exchange. Designed specifically for regulated assets, the PolyMesh blockchain offers superior capabilities in governance, identity verification, confidentiality, compliance, and settlement infrastructure. This institutional-grade blockchain sees its native token, POLYX, play a critical role in staking, network security, transaction fees, and governance, making it a highly sought-after asset in the current market environment.
Impact of Listings on Tokens’ Performance
The listings on these premier exchanges have significantly impacted the market performance of GAL and POLYX. Following UPbit’s announcement, the price of GAL rose to $2.9 before settling at $2.56, marking an 8.76% increase with a market cap nearing $300 million. Daily trading volumes surged dramatically by 737% to a substantial $198 million. Similarly, the listing of POLYX by Bithumb propelled its price to $0.27 before stabilizing at $0.2482, which reflects an 8% rise. POLYX’s market cap stands at over $213 million, with trading volumes soaring by 500% to $81.2 million.
Conclusion
The rapid appreciation of Galxe (GAL) and PolyMesh (POLYX) underscores the significant influence major exchange listings can have on cryptocurrency market dynamics. Both tokens’ strong market performance, driven by substantial increases in trading volumes, highlights the growing investor confidence and interest in these assets. As these tokens continue to gain traction, it will be essential to monitor further developments and their long-term impacts on the broader crypto market.
