What is Galxe? Comprehensive Galxe Crypto Review and GAL Coin Evaluation

The goal of the Galxe cryptocurrency project, originally known as Project Galaxy, is to support other initiatives in creating and expanding their Web3 communities. With well-known initiatives like Polygon and Arbitrum in their portfolio, Galxe's ability to create vibrant cryptocurrency communities is undeniable. However, how are things going for Galxe and its GAL coin, even though these other projects have had successful tokens and communities? As we perform a thorough Galxe study and GAL crypto analysis and address the topic "What is Galxe?" among many others, let's find out in this article!

Before delving into today's post, let us go over the fundamentals of the Galxe cryptocurrency project. As such, you will learn about Project Galaxy (now known as Galxe), including its purpose, essential characteristics, backers, and other details. Now that we have a solid grasp of Galxe, we can concentrate on the GAL coin. You will discover the essence of this initial Project Galaxy coin, its operation, tokenomics, and applications.
The price of the GAL coin will then be examined in order to ascertain the range of prices that the token has experienced. For this cryptocurrency asset, we'll additionally list all important price levels using the fundamentals of technical analysis (TA). We'll also make some forecasts about the price of GAL cryptocurrency tokens. However, we'll also walk you through using Moralis Money to determine whether or not to purchase $GAL. We'll even advise you where and how to find the correct market for those of you who might like to purchase a bag of GAL coins.

What was once known as Project Galaxy, or Galxe?

Galxe is a cryptocurrency initiative that aims to develop robust tools and solutions to support Web3 projects in creating vibrant communities. Galxe's documentation claims that the project is the best platform for creating Web3 communities. It boasts more than eleven million unique users and has aided in the expansion of several of the top cryptocurrency projects, such as Polygon, Arbitrum, and Optimism. The Project Galaxy crypto protocol states that, in addition to the aforementioned three initiatives, it has assisted over 2,700 partners develop reward-based loyalty programs. Still, there's more to the Galxe cryptocurrency initiative! Check out the subsections below as a result.

About the Galxe Crypto Project

The best locations to find out more about each project are usually the official websites of the respective initiatives. Therefore, there is a lot to investigate on "galxe.com" to find out more about what Galxe is.
The heading that reads, "Earn NFTs/OATs/Tokens by Contributing to Your Favorite Web3 Community," will catch visitors' attention first. This indicates that Web3 community-building solutions are available on the defunct Project Galaxy cryptocurrency platform, and prospective community members are invited to express interest in other projects' loyalty programs that leverage Galxe's solutions. Visitors who are interested in joining the community can select the "3k+ Trusted Brands" button. Then, if they choose to support any of the initiatives and help them expand, they can choose any of them utilizing Galxe's tools. However, Web3 projects that want to expand their communities can use Galxe's crypto solutions by clicking the "Create Your Space" button.
As you navigate through the Galxe homepage, you'll see that there are multiple sections that showcase different spaces and reward programs for projects that use Galxe's solutions in an effort to attract new community members. Furthermore, the Web3 mission content from Galxe can also teach you the fundamentals of Web3. You can browse the bottom section or the main menu of "galxe.com" to examine the complete range of features and solutions our project offers. But you can also get the general idea from the next 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:

1. 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.    
2. 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.  
3. 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 weekly timeframe and regular scale of the Project Galaxy coin price are displayed in the above image. Additionally, we have blue lines to indicate each degree of significance. We also included a trendline that slopes downward (white line). The latter indicates that there has been a breakout in the $GAL price after a 480-day decline.

GAL Crypto Future Forecast

Reexamining the chart above reveals that there was a minor spike in trade volume concurrent with this breakout. Therefore, it's highly possible that GAL has already reached its cycle low. Therefore, the Project Galaxy token is expected to reach substantial price levels above its current price if the cryptocurrency market as a whole manages to start moving upward.
Therefore, you can consider the market levels mentioned above to be the most likely $GAL price goals. But many projects will be even more interested in developing their communities once the next bull run takes hold. And they may choose to employ the Galxe crypto project's strength for those ends. If so, the price of $GAL will probably hit new highs.
No other well-run project has use cases comparable to those of Galxe. As a result, we are unable to compare GAL to another coin. Nonetheless, we can make some speculative projections about future prices using the Fibonacci retracement tool. Thus, GAL would enter price discovery mode if it were to break above the asset's ATH daily close, which is now around $17.3. The most optimistic level on the Fibonacci retracement tool (the "4.236" extension) in that case points to roughly $70-$80.

Should You Buy the GAL Coin?

You should be able to decide whether you think the native token of the Galxe crypto project is intriguing based on the information presented in the sections above. If not, you ought to take the GAL coin out of the rearview mirror right now. Instead, use Moralis Money's Token Explorer to begin looking for additional fantastic altcoin options. But if our explanations of "What is Project Galaxy?" pique your interest enough for you to think about purchasing a bag of $GAL, you really ought to learn more about this initiative and its cryptocurrency. And the Moralis Money Project Galaxy ($GAL) token website is the best resource for doing that.
All the links you require to learn more about the Galxe project are available on that page. Furthermore, all the tools required to decide if and when to purchase the Project Galaxy currency are available. The token's real-time on-chain measurements, also known as alpha metrics, are especially helpful. They'll let you know if this is the best time to purchase $GAL based on the asset's pricing as well.