is Key Takeaways

• Galxe’s GAL crypto has performed well recently, climbing more than 20% in a little over a month.
• The launch of the Galxe Protocol data function will have helped the token’s rise. 
• Can GAL maintain its upward momentum?
• One Galxe price prediction says the token can reach $4.24 in 2025. 

 

The Galxe token has performed relatively well in recent weeks. It has recovered by more than 20% since reaching a low in August, and is up by almost as much since the start of the year. The launch  of the Galxe Protocol, which helps people control their data, helped the price recover. 

Co-founder Charles Wayn said: “Galxe has pioneered a groundbreaking system for cross-platform interaction, participation verification, and reward issuance that authentically connects global citizens and brands.

“The Galxe Protocol is a significant milestone in the evolution of decentralized identity ownership, and it is bound to take this one step further, ushering in a new era of decentralization, privacy, and security in the Web3 landscape.”

Galxe did not immediately respond to a request for comment.

But what is Galxe (GAL)? How does Galxe work? Let’s see what we can find out, and also take a look at some of the Galxe Price Predictions that were being made as of September 19 2023.

Galxe Coin Price Prediction

Let’s examine some of the Galxe price predictions being made on September 19 2023. It is crucial to bear in mind that price forecasts, particularly for a potentially volatile asset like cryptocurrency, often turn out to be inaccurate. Additionally, please remember that many long-term crypto price predictions are generated using algorithms, which means they can change at any time.

First, CoinCodex  had a short-term Galxe price prediction that said GAL would get worse before it got better. It forecast the crypto to fall to $1.11 by September 24 before going back up to reach $1.32 by October 19. The site’s technical analysis was bearish, with 17 indicators making discouraging signals and just seven making bullish ones. 

Galxe Price Prediction for 2023

DigitalCoinPrice  said Galxe would reach $2.42 this year, while Bitnation  said it would trade at $1.82. PricePrediction.net  was a bit more cautious, saying GAL would be worth $1.38 in 2023. 

Galxe Price Prediction for 2025

Moving on, DigitalCoinPrice thought GAL would stand at $4.15 in 2025. Bitnation was even more bullish, saying it would reach $4.24 then. PricePrediction.net’s Galxe price forecast said it would be worth $2.84 in two years’ time. 

Galxe Price Prediction for 2030

Looking at a more long-term Galxe price prediction, DigitalCoinPrice said the token would be worth $12.46 in 2030. Bitnation said it would stand at $10.31 in seven years. PricePrediction.net was in the lead, though, with a GAL price prediction that saw the token reach $18.91 at the start of the next decade. 

GAL Price History

Now, let’s examine the Galxe price history . While we should never take past performance as an indicator of future results, knowing what the token has achieved can provide us with some very useful context if we want to make or interpret a Galxe price prediction.

When Galxe first came onto the open market in early May 2022, it was worth more than $15. In fact, on May 6 2022, it was worth $18.26. Unfortunately, two things happened that meant that figure still stands as GAL’s all-time high. Firstly, the market thought it was overvalued. Secondly, the Terra (LUNA) blockchain collapsed. This sent shockwaves through the market. It could be argued that crypto has not yet recovered from this. By the end of the month, GAL was worth about $5. 

Things managed to get even worse over the following months. Even the $5 level looked like a distant dream and any hopes of it recovering were crushed when the FTX (FTT) exchange declared bankruptcy in November. By the end of the year, GAL was worth $1.02. 

Galxe in 2023

So far, 2023 has been a little bit better for GAL, but only a little. Things started off well enough, with a buoyant market pushing the token above $2.60 in early February. After that, though, there was a downturn and, by late May, Galxe was worth less than $1.50. Things got even worse at the start of June. The United States Securities and Exchange Commission (SEC) sued the Binance and Coinbase exchanges, crashing the market. On June 10, Crypto.com (CRO) suspended its American institutional activities and GAL fell to an all-time low of $0.8658. 

There was some recovery in the weeks after that. On July 14, as the crypto world celebrated the news that an American court had found Ripple’s XRP not to be a security when it was sold on exchanges, GAL reached $1.31. It was able to stay at a comparatively high level and reached $1.33 on July 20. 

After that, though, things fell apart somewhat. On August 17, the news that Elon Musk’s SpaceX had sold millions of dollars worth of Bitcoin (BTC) tanked the market. GAL dropped below the dollar to $0.9814. It was able to recover past $1 by the end of the day, though.

By September 19 2023, GAL was worth about $1.20. At that time, there were 86.9 million Galxe in circulation out of a total supply of 200 million. This gave the token a market cap of around $105.9 million, making it the 181st-largest crypto by that metric. 

Galxe Price Analysis

GAL has been on a bit of an upward climb lately. It is worth about 10% more than the $1.09 it traded at on September 11 and is up more than 20% since its August low. It is, however, down by nearly 10% from its July high, but is up nearly 20% since the start of the year. 

Is Galxe a Good Investment?

It is difficult to tell. The token has shown some resilience lately, fighting back from a Musk-triggered low in August. The launch of Galxe Protocol has been a positive move, and it will be interesting to see what happens next. 

On the other hand, Galxe is still a relatively small crypto platform. It does one thing, but what it does is pretty niche. We will have to see how the organization behind the system can bring it to the attention of investors. 

As ever with crypto, you will need to make sure you do your own research before deciding whether or not to invest in GAL.

Will Galxe go up or down?

No one can really tell right now. While the Galxe crypto price predictions are largely positive, price predictions have a well-earned reputation for being wrong. Keep in mind, too, that prices can, and do, go down as well as up. 

Should I invest in Galxe?

Before you decide whether or not to invest in Galxe, you will have to do your own research, not only on GAL, but on other coins and tokens such as Oasis Network (ROSE) and The Graph (GRT). Either way, you will also need to make sure that you never invest more money than you can afford to lose.

 

Galxe (GAL) Explained

Galxe , formerly known as the Galaxy Network, is a platform designed to allow people to access data credentials on the blockchain. Credentials are evidence of someone’s online activity, and can be used to help people make decisions. For instance, credentials can help someone decide whether an applicant is suitable for a crypto loan. 

Traditionally, credentials were kept in private databases. Galxe allows them to be stored in the blockchain, making it easier for relevant parties to access them.

Crypto entrepreneurs Charles Wayn and Harry Zhang founded the platform in 2021. The GAL token powers Galxe, which is based on the Ethereum (ETH) blockchain. 

How Galxe Works

Galxe features the Galxe ID program. This allows people to create their own identity. This can be used both on and off the blockchain to display their credentials. The Galxe passport allows them to store their data securely and anonymously. 

People and communities on Galxe can also create their own non-fungible tokens (NFTs) on the platform. 

GAL rewards people who help the system run, and holders can vote on changes to the network. The token pays for fees on Galxe, and people can buy, sell, and trade it on exchanges. 

Because Galxe is based on Ethereum, GAL is a token, not a coin. You might see references to such things as a Galxe coin price prediction, but these are wrong. 

FAQs 

Further reading

MXC Price Prediction 2023: What is MXC?

VeChain Price Prediction 2023: What is VeChain (VET)?

Kaspa Price Prediction 2023: What is Kaspa (KAS)?

 

Disclaimer 

Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.