Moonbeam’s Native Token GLMR Surges 56% After Upbit Listing Announcement
Although the crypto market is currently moving sideways, experts predict a big rally in the last quarter. Moonbeam, known for its compatibility with Polkadot, is gaining attention for its interoperability efforts. One of Moonbeam’s native tokens, GLMR, has experienced a significant surge of 56% in the last 24 hours, reaching $0.2601 on various trading platforms. This surge comes after the major South Korean exchange Upbit announced its intention to list GLMR with BTC trading pairs.
Moonbeam Network and GLMR’s Significance
Upbit’s decision to list GLMR is seen as a positive development for Moonbeam Network. The listing will open up the global market for the token and increase its exposure to potential investors. Moonbeam Network aims to create a user-friendly smart contract platform similar to Ethereum’s Virtual Machine within the Polkadot ecosystem. GLMR plays a vital role in Moonbeam Network by facilitating transaction fee payments and staking participation.
Furthermore, Upbit has made it clear that GLMR deposits will be accepted exclusively via the Moonbeam network, ensuring safety protocols are implemented during the initial trading phase.
Moonbeam Price Impact
The announcement of Upbit’s listing has had an immediate impact on GLMR’s price. Previously below $0.2 for weeks, GLMR surged by 51.33% in the last 24 hours, reaching $0.2506. Its market cap also increased by 51.78% to $186.63 million, while its trading value soared by 1512.64% to $42.37 million.
As the market recovers, there is anticipation of more adoptions and the potential impact of this listing on GLMR’s future. Users on Upbit are eagerly waiting for the opportunity to engage with this exciting development as deposits open soon.
Hot Take: Moonbeam’s GLMR Listing on Upbit Boosts Market Sentiment
The announcement of GLMR’s listing on Upbit has generated positive market sentiment, leading to a surge in its price. This listing opens up new opportunities for investors and expands the global reach of Moonbeam Network. As the crypto market prepares for a potential rally in the last quarter, GLMR’s performance will be closely watched by traders and enthusiasts alike. The excitement surrounding this development highlights the growing interest in interoperability-focused projects like Moonbeam. With its user-friendly smart contract platform and the increasing adoption of GLMR, Moonbeam is poised to make a significant impact in the DeFi space.
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