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 RatioThe 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.