thenewscrypto.com
- On May 12, Coinbase will stop supporting trading of the GALA token (Gala V1).
- Binance stated that it would take care of all technical needs for $GALA holders.
Token holders in the Gala Games ecosystem will shortly get new $GALA V2 tokens in exchange for their existing $GALA at a rate of 1:1. Despite Coinbase’s decision to avoid the $Gala (GALA) contract swap, the biggest cryptocurrency exchange in the world, Binance, has opted to support the airdrop.
On May 12, Coinbase will stop supporting trading of the GALA token (Gala V1), which means that holders will not be able to get the new airdropped token (Gala V2), and the exchange has no present plans to enable holders to transfer tokens after the fact.
When the V2 token debuts, Coinbase users will be able to transfer their V1 tokens to a hardware wallet or cold storage, but after May 15 they will only have restricted access to their V1 holdings.
GALA Price Rallies
According to the release, Binance will support the Ethereum (ERC20) network contract swap. It was also announced that the Ethereum (ERC20) network support for deposits and withdrawals of legacy GALA will be discontinued.
Binance, however, has said that it would take care of all technical needs for $GALA holders. It was also noted that after the contract swap was completed, a further statement will be issued to inform users. The snapshot/upgrade has been set for Monday, May 15th, according to a GALA announcement. However, $GALA which is not on the list but is still held on the exchange may be lost forever.
According to CMC, the price of GALA is $0.0307 and is up 7.32% in the last 24 hours. The trading volume is $228,107,408 and is up over 100%. The intraday high for the token is $0.032.