As we dive into today’s article, we’ll first cover the basics of the Galxe crypto project. As such, you will find out what Project Galaxy (now Galxe) is, what the project is all about, what its core features are, who’s behind the project, and more. With a proper understanding of Galxe, we’ll focus on the GAL coin. You’ll get to learn the gist of this original Project Galaxy coin, how it works, its tokenomics, and use cases.
Then, we’ll also analyze the GAL coin’s price to determine what price levels the token has covered. Using the basics of technical analysis (TA), we’ll also outline all significant price levels for this crypto asset. Plus, we’ll speculate on some GAL crypto token price predictions.
Nonetheless, we’ll also demonstrate how to use Moralis Money to help you discover if/when to buy $GAL. And for those of you who may decide to get a bag of the GAL coin, we’ll even tell you where and how to do that without breaking a sweat or the bank.
What is Galxe (Formerly Project Galaxy)?
Galxe is a crypto project focusing on building powerful tools and solutions to help Web3 projects build strong communities. According to Galxe’s docs, the project is the leading platform for building Web3 communities. It has more than eleven million unique users and has helped some of the leading crypto projects, including Optimism, Arbitrum, and Polygon, to grow.
Aside from the above three projects, the Project Galaxy crypto protocol claims to have helped over 2,700 partners with reward-based loyalty programs.
However, there’s more to the Galxe crypto project! As such, make sure to explore the subsections below.
About the Galxe Crypto Project
The official websites of projects themselves are typically the best places to learn what each project is all about. So, to learn more about what Galxe is, “galxe.com” offers quite a lot to explore.
Visitors will first notice the “Earn NFTs/OATs/Tokens by Contributing to Your Favorite Web3 Community” heading. This tells us that the former Project Galaxy crypto platform offers Web3 community-building solutions and invites potential community members interested in other projects’ loyalty programs created using Galxe’s solutions.
So, if visitors are potential community members, they get to hit the “3k+ Trusted Brands” button. Then, they can select any of the projects using Galxe’s tools if they want to contribute to their growth. On the other hand, Web3 projects interested in growing their communities get to hit the “Create Your Space” button to start using Galxe’s crypto solutions.
Scrolling down the Galxe homepage, you can find several sections targeting potential community members by presenting various spaces and reward programs of projects using Galxe’s solutions. Furthermore, you can also learn the basics of Web3 via Galxe’s mission Web3 content.
To see the full spectrum of features and solutions this project offers, you can explore the “galxe.com” top menu or the footer area. However, you can also learn the gist of it in the following subsection.
Who is Behind Galxe?
Bullet Labs is the venture behind Galxe. After checking out Bullet Labs’ socials and website, we couldn’t find out much about it. After all, these outlets only state that Bullet Labs is focusing on Web3 product development. Plus, they link to the Galxe crypto project.
As such, it is reasonable to presume that Galxe is Bullet Labs’ only project.
According to Bullet Labs’ LinkedIn profile, the company has its headquarters in San Mateo, California. This outlet also tells us the company behind the former Project Galaxy crypto protocol went live in 2021.
The co-founders of Bullet Labs are Charles Wayn and Harry Zhang.
Switching from Project Galaxy to Galxe
The transition from Project Galaxy to Galxe took place in September 2022. You can see the announcement on the above screenshot of the Bullet Labs official website. The latter leads to the following Medium post:
The reason behind this rebranding is explained in the above-outlined post, and it expresses where the project was at the time it was called Project Galaxy and where it was planning to go.
Features and Solutions
It’s time to take a closer look at this project’s solutions. On the “Solutions” page from the former Project Galaxy crypto project, we can read more about the project. It points out that it offers a powerful plug-and-play dashboard, which enables projects to create customized campaigns. This means that projects don’t have to deal with any coding to get going with Galxe’s infrastructure.
These are the core selling points Galxe can provide that the “Solutions” page points out:
- Driving growth
- Identifying loyal users
- Increasing brand awareness
- Improving user retention
- Preventing Sybil attacks
In order to deliver on the above-outlined promises, the Galxe protocol deploys the following solutions:
- Credential data network
- Build with credentials
- Galxe ID
- Galxe OAT
- Galxe passport
- The GAL coin
- Community programs:
- Galxe Brain
- Galxe Pathfinder
- Galxe Ecosystem Space
Note: We’ll take a closer look at the GAL crypto token herein. However, to explore the project’s other solutions, make sure to visit Galxe’s documentation:
How the Galxe Crypto Project Works
Galxe offers projects the following three-step process to get going:
- Selecting Campaign Requirements – Galxe offers different data sources for projects to use its Web3 credential data network. Current integrations allow tracking on-chain footprints, X engagement, Discord activities, GitHub repo contributions, event participations, DAO voting status, and verified individuals. Plus, projects get to import their own data.
- Choosing a Reward Type – Projects that decide to use the Galxe crypto platform get to choose between OATs (on-chain achievement tokens), SBTs (soul-bound tokens), NFTs (non-fungible tokens), mystery boxes, allowlists, token rewards, raffles, and custom rewards.
- Launching the Campaign – Galxe promises to take care of the rest after a project launches a campaign. This includes automatically tracking task completion and distributing rewards both on-chain and off-chain.
Project Galaxy Crypto Community – How to Connect with Galxe
By covering the above info and answering the question, “What is Project Galaxy?” you know that Project Galaxy is the former name and that Galxe is its current name. Also, you know Galxe is a community-building platform. That said, being such a specific platform that aims to build strong communities, the project itself must have a strong community. Judging by the project’s X following, it is doing quite alright:
Aside from Galxe’s X profile, this former Project Galaxy crypto venture offers several additional community outlets. You can access them via the project’s top menu on its homepage:
What is the GAL Coin?
The GAL coin is the Galxe crypto protocol’s native cryptocurrency. The token’s original home was the Ethereum chain, where it was born on January 19, 2022. However, since April 30 of that same year, the GAL crypto token has also been roaming the ecosystem on BNB Chain.
The Project Galaxy crypto asset is a fungible token. On the Ethereum chain, it follows the ERC-20 token standard and has a total supply of 200,000,000 $GAL.
How GAL Works
In order to understand how the GAL coin works, make sure to check out the asset’s tokenomics and use cases. After all, GAL is an important part of the Galxe credential data network.
Tokenomics
- Symbol/ticker: GAL or $GAL
- Token type:
- ERC-20 (Ethereum)
- BEP-20 (BNB Chain)
- Smart contract addresses:
- 0x5fAa989Af96Af85384b8a938c2EdE4A7378D9875 (Ethereum)
- 0xe4Cc45Bb5DBDA06dB6183E8bf016569f40497Aa5 (BNB Chain)
- Total supply: 200,000,000 $GAL
- Token allocation:
- 1.5% to Binance Launchpool
- 4.5% to its ecosystem
- 2.0% to early adopter rewards
- 5.0% to CoinList public sale
- 10.63% to growth backer round one
- 10.14% to growth backer round two
- 6.23% to advisors and partners
- 15.0% to marketing
- 10.0% to foundation
- 15.0% to team
- 20.0% to community treasury
- GAL coin supply schedule:
GAL Coin Use Cases
The Project Galaxy coin has multiple use cases. It primarily serves governance, incentivizing, and payment purposes within the Galxe crypto ecosystem.
When it comes to governance, the GAL crypto token allows its holders to cast votes and participate in the Galxe DAO. This enables GAL holders to have a say in how high the Galxe platform fees are and how to use Galxe’s community treasury.
As far as payments go, GAL covers two main aspects. On the one hand, developers who want to use Galxe’s credential data through the platform’s application modules use GAL to pay platform fees. On the other hand, the GAL crypto asset is also the medium devs use to pay for the Galxe oracle engine and the Galxe Credential API.
The Project Galaxy coin is also used to incentivize the curators of Galxe’s digital credentials. Moreover, curators can collect rewards in the form of the GAL coin for their contribution to helping identify valuable credential data.
GAL Crypto Price Analysis – TA
The above weekly chart on the logarithmic scale shows the entire Project Galaxy coin’s price action. Given the fact that the crypto market as a whole entered a bear market at the end of 2021, it is not surprising to see that the GAL crypto token price has spent most of its time in a downtrend.
However, it is important to note that the token listed on Binance at $1.5 rallied well over $10 in the first days of trading.
From approximately $10, the value of GAL reduced to $1-ish in late December 2022. From that level, it had quite a run (150%-plus) in January 2023. However, the asset couldn’t close its weekly candles above $2.5-ish. Instead, it went to its all-time low (ATL) at $0.837.
Since then, the price recovered a bit; however, it has been mainly ranging on top of the $1-ish level.
The above image indicates the Project Galaxy coin price on a weekly timeframe and a regular scale. We’ve also marked all the levels of significance with blue lines. In addition, we added a downsloping trendline (white line). The latter shows us that the $GAL price has recently broken out of a 480-day-long downtrend.
GAL Crypto Future Forecast
By looking at the above chart again, you can also see that this breakout came with a slight increase in trading volume. Thus, it is quite likely that this cycle’s low for GAL is already in. So, if the crypto market as a whole manages to start moving upward, the Project Galaxy token is likely to reach significant price levels above its current price.
So, you can view the above market levels as the most likely price targets for $GAL. However, as the next bull run takes over, many projects will be even more interested in building their communities. And they might decide to use the power of the Galxe crypto project for those purposes. If so, $GAL’s price will most likely reach new ATHs.
There’s no other successful project with similar use cases as Galxe. Thus, we can’t do a comparison where we put GAL up against another coin. However, we can use the Fibonacci retracement tool to get some speculative future price predictions. So, if GAL were to break above the $17.3-ish, which is the asset’s ATH daily close so far, it would enter price discovery mode. In that scenario, the Fibonacci retracement tool’s most optimistic level (the “4.236” extension) points to $70-ish.
Should You Buy the GAL Coin?
The information provided in the sections above should be more than enough to help you determine if you find the Galxe crypto project’s native token interesting. If not, you should leave the GAL coin in the rearview mirror immediately. Instead, start searching for other great altcoin opportunities with Moralis Money’s Token Explorer.
However, if you find our answers to the “What is Project Galaxy?” question intriguing enough to consider getting a bag of $GAL, then you must further research this project and its coin. And there’s no better tool to do that than the Moralis Money Project Galaxy ($GAL) token page.
On that page, you can find all the links you need to explore the Galxe project. Plus, there are all the resources you need to determine if and when you should buy the Project Galaxy coin. Particularly useful are the token’s real-time, on-chain metrics (a.k.a. alpha metrics). In combination with the asset’s price, they’ll tell you if now’s the right time to buy $GAL.
So, follow the above “$GAL” link or use the interactive widget below:
Where and How to Buy GAL
If you took a good look at the above-presented Moralis Money Project Galaxy coin page, you probably already noticed the instant crypto swap feature. If you believe in a decentralized way of buying crypto assets, this is the best path for you if you want to buy $GAL.
For one, it is right there where you are already researching $GAL. Plus, the GAL token is preselected, so you avoid risking landing on the wrong token pair. And, thanks to the power of the 1inch aggregator, this path offers you the best available price.
Nonetheless, the Moralis Money feature is super easy to use. Just connect your Web3 wallet, select the asset from your wallet that you want to use to buy $GAL, enter an amount, and execute the swap.
For reference, watch the animation below. And, in case you are new to crypto swapping, we recommend you check out our step-by-step guide on how to swap ERC-20 tokens.
What is Galxe? Full Galxe Crypto Review and GAL Coin Analysis – Key Takeaways
- What is Project Galaxy? It is the initial name of the Galxe crypto project, which is a community-building platform.
- The Galxe protocol has several solutions and features that allow Web3 projects to easily create community-building campaigns.
- Galxe is the product of the Bullet Labs company.
- The project changed its name from “Project Galaxy” to “Galxe” in September 2022.
- The GAL coin is the Galxe protocol’s native cryptocurrency that lives on Ethereum and BNB Chain.
- GAL is a governance and utility token. It allows its holders to vote via the Galxe DAO, devs to use it to pay for fees and oracles and serves as an incentive for Galxe curators.
- The $GAL price is still near its ATL, ranging just above the $1 mark. As such, there’s a decent upside potential for this token.
- To determine if/when to buy $GAL, make sure to use the Moralis Money $GAL token page. This is also where you can buy that crypto without breaking a sweat or the bank.
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