TechFlow News, according to Huobi market data, GALA dropped to $0.003 this morning, plunging approximately 99.4% within four hours. The price has since recovered to $0.0063.
Reportedly, after cross-chain protocol pNetwork redeployed its pGALA contract this morning, it minted over $1 billion worth of pGALA tokens to "crash" the existing pGALA pool. This action may have occurred without proper coordination with Huobi, which had temporarily suspended deposit and withdrawal services. As a result, many users withdrew their tokens from DEXs and transferred them to Huobi for immediate selling. Currently, Huobi has suspended all GALA deposits and withdrawals.
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