Coinbase, a cryptocurrency exchange, has indicated that it would discontinue Gala V1 on May 15, 2022, and will not support the upcoming Gala V2 airdrop. Gala V2 is Gala Games’ leading utility coin. However, its price has declined over the last three months.
According to the Coinbase announcement, the exchange will issue Gala V2 using a new contract address. However, it will cease trade for Gala V1 on May 12, 2023, before the planned May 15 snapshot project.
Coinbase has announced the suspension of services for Gala on all platforms, including Coinbase Pro, Coinbase Exchange, and Coinbase Prime. However, GALA V1 will be available to Coinbase users, who can withdraw them from the site.
Coinbase, on the other hand, has opted to boycott any Gala V2 airdrop. This implies that no crypto platform with GALA money will get GALA cash via airdrops after the scheduled snapshot.
Coinbase clients must move GALA V1 from their accounts into self-custodial wallets before the launch to get a Gala V2 airdrop from the Go GALA Games team. It is worth noting that Coinbase will not assist users in transferring cash from Gala V1 to Gala V2.
According to recent statistics, whales may have begun shifting GALA on exchanges. For example, according to WhaleAlert, a whale address transferred 179.2 million GALA coins (about $6.22 million) from Binance to unknown wallets.
Also Read: Coinbase to Halt Bitcoin-Backed Loans via Borrow Service
