De@r Square Community Must Read And Understand!
8 Hours Ago , the token G was launched on Binance. It is recommended not to buy it for the time being because it is likely to depreciate.
First of all, we need to know that G is converted from the original GAL at a ratio of 1:60.
There will be voices saying that after the rebranding, investors holding 1 GAL can get 60 G, which enhances the liquidity and attractiveness of the token.
But in fact, this is not the case. Isn't this a disguised increase in GAL? Although it is not a real increase in the number of GALs, it will make GAL look cheaper.
We have previously analyzed the topic of rebranding. For reference, FET and RNDR have not seen an increase due to rebranding.
Because most of the rebranding or currency exchange plans will force many leveraged investors to close their positions, and may also frustrate investors' confidence. After all, it is impossible for all the original GAL holders to support the rebranding, and some people will sell it, which will bring selling pressure.
Moreover, we can use a very simple algorithm to illustrate the problem: the original price of GAL was $2.6, which is about $0.04 divided by 60, and now the price of G is as high as $0.06.
In addition, the tokens launched by Binance this year are all lower than the opening prices without exception. Will it be the same for G?
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