Galxe unveils Gravity EVM upgrade and $50M ecosystem fund

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: Dec 10 2024

G-6.614%

ATOM-2.778%

Should l Buy G?

Galxe's New Initiatives: Galxe has launched a $50 million ecosystem fund and the Grevm 1.0 upgrade for its Gravity blockchain to support developers and enhance user-focused applications, aiming to attract more projects to its platform.
Future Goals for Gravity: The Gravity network, which is EVM-compatible and built on a proof-of-stake model, aims to facilitate high throughput and efficient microtransactions while allowing developers to create their own layer-1 solutions using the upcoming Gravity SDK.

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Technical Analysis for G

Technical Sentiment Analysis for Gravity (G) As of , Gravity (G) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 2 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for G stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.

Support, Resistance & Moving Averages From a structural perspective, G is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Gravity (G) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	0.00106	0.00212	0.00296	0.00402	0.00486	0.00592	0.00676
Fibonacci	0.00212	0.00284	0.00329	0.00402	0.00474	0.00519	0.00592

About G

G is the native token on Gravity and the utility token for both Gravity and the Galxe ecosystem. G powers transactions as the gas token and secures the network through staking. As the primary utility token across both ecosystems, G drives governance decisions, incentivizes growth, and facilitates payments. Galxe is a decentralized super app and web3’s largest onchain distribution platform. Through its robust infrastructure and product suite of modular AI, digital identity, and blockchain solutions — Quest, Passport, Score, Compass, and Alva — Galxe supports the development of advanced, user-friendly applications with an emphasis on web3 exploration and self-sovereign digital identity management. Gravity is a Layer 1 blockchain designed for mass adoption and an omnichain future. Its approach abstracts the technical complexities of multichain interactions, integrating advanced technologies like Zero-Knowledge Proofs, state-of-the-art consensus mechanisms, and restaking-powered architecture to ensure high performance, enhanced security, and cost efficiency.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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