Binance.US Supports the GAL Token's Migration to G Coin

Binance.US, the US-based collaborator of Binance, has announced support for the migration of Galxe's GAL token to Gravity.

Binance.US, the US-based partner of Binance, has announced support for the migration of Galxe’s GAL token to Gravity. The token swap will see Binance.US handle the migration on behalf of users, with Galxe coins being rebranded and redenominated to Gravity (G). The platform will then credit the respective tokens at a conversion rate of 1 $GAL token to 60 $G tokens. The platform covered this development in detail in an article on X.

Binance.US Supports GAL Token Migration to G Coin

The platform announced that OTC trading will soon be suspended, along with the conversion, buying, and selling of GAL tokens. In this regard, the platform will carry out this action on August 5. Following this, on August 6, the firm will also suspend GAL token trading while removing the GAL/USDT trading pair. Additionally, Advanced Trading orders will be automatically canceled.

Binance.US will permanently close withdrawals and deposits for GAL across the supported networks (including BEP20 and ERC20) on August 6. Furthermore, the company will not credit deposits pertaining to GAL to the users’ accounts after the respective time. As a result, such deposits will be lost by the users. Binance.US will handle the technical requirements following the migration of GAL to G.

Trending Now: Bitcoin Faces Resistance at Ichimoku Cloud Top, Trades at $61,700

Moreover, it will credit G tokens to those holding GAL at the above-mentioned rate. The platform will also update the respective announcement after the completion of the token swap, redenomination, and rebranding. The platform proceeded to outline all activities pertaining to conversion, buying, selling, OTC trading, and normal trading for the GAL coin. This development follows the migration of the GAL token to G token by Binance.

Platform Advises Users Against Depositing G Tokens Until Official Opening of Deposits

Earlier this week, Binance performed the token swap, rebranding, and redenomination to G, making it available for trading. In this regard, it also opened spot trading for two pairs including G/TRY and G/USDT. The crypto exchange also allowed users with active Spot Copy Trading portfolios to add the above-mentioned pairs. Currently, Binance.US has advised users to refrain from depositing G tokens to its platform until the official opening of deposits.