GLMR is the token of Moonbeam, a platform that allows developers to create smart contracts on Polkadot using Ethereum tools.
The potential listing news of GLMR Crypto on Upbit has sparked a massive bullish jump in this crypto. In this article, we will look at the origin, price journey, current price analysis and future outlook of GLMR crypto.
Table of Contents
Origin
Moonbeam was created in 2018 by PureStake, a company that provides secure and reliable blockchain infrastructure to developers, projects and enterprises. Moonbeam is more than just an Ethereum virtual machine (EVM) implementation: it is a specialized parachain that replicates Ethereum’s Web3 RPC, accounts, keys, subscriptions, logs and more. The Moonbeam platform also adds new features such as on-chain governance, staking and cross-chain integrations.
GLMR is a token that follows the BEP-20 standard and runs on the Binance Smart Chain network. It was launched in February 2021 through a strategic sale and airdrop on Binance Launchpad, a platform that helps new blockchain projects raise funds and gain exposure. GLMR has various use cases in the Moonbeam ecosystem, such as:
- Paying for network fees and gas costs
- Joining in network governance and voting
- Staking for securing the network and earning rewards
- Accessing premium features and services on Moonbeam
- Interacting with other parachains and bridges on Polkadot
Price Journey
GLMR had an impressive debut on the market, reaching its highest price of $19.50 on Jan 11, 2022, shortly after its launch. However, it soon faced a steep correction and entered a downtrend that lasted for several months. GLMR reached its lowest price of $0.160477 on Sep 22, 2023.
Since then, GLMR has recovered some of its losses and has shown signs of stabilization. GLMR is trading at $0.23, with a market cap of $170mn and a 24h trading volume of $65mn. GLMR has a circulating supply of 740 million tokens and a maximum supply of 1.1 billion tokens.
GLMR Crypto Current Price Analysis
The crypto is now in the consolidation phase after the recent pump.
Had been consolidating inside parallel channel on 1D time frame for long, finally now broke it out & pumped pur approximately 28% after breaking it.
Future Outlook
GLMR is a token that reflects the performance and popularity of Moonbeam as a smart contract platform on Polkadot. Therefore, its future prospects depend largely on how well Moonbeam can attract and retain developers, as well as how it can innovate and improve its products and services.
Some of the factors that could positively influence GLMR’s price are:
- The growing adoption of smart contracts and decentralized applications (DApps) across various industries
- The strong backing and support from Polkadot, which gives Moonbeam access to a large and diverse network of parachains
- The continuous development and expansion of Moonbeam’s ecosystem, such as adding new blockchains, features and partnerships
- The active involvement and participation of GLMR holders in Moonbeam’s governance and staking
Some of the factors that could negatively affect GLMR’s price are:
- The high competition and saturation in the smart contract market
- The potential security breaches or technical issues that could compromise Moonbeam’s reputation and user trust
- The regulatory uncertainty and legal challenges that could affect Moonbeam’s operations and compliance
- The market volatility and sentiment that could affect GLMR’s liquidity and demand
In conclusion, GLMR is a token that represents the value proposition of Moonbeam as a smart contract platform on Polkadot compatible with Ethereum. It has experienced a volatile price journey since its launch, but has also shown some signs of recovery and stability. GLMR’s future outlook depends on how well Moonbeam can deliver on its vision of providing developers with an Ethereum-compatible environment on Polkadot.
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