GLMR, Moonbeam’s Native Token, Surges 56% With Upbit Listing

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Although the crypto market is moving sideways, a big rally is expected in the last quarter. DeFi may get a piece of cake, too. Moonbeam, known for its compatibility with Polkadot, is gaining attention for its interoperability efforts. Today, we’ll delve into GLMR’s potential.

So what’s happening with GLMR, Moonbeam’s native token, has shot up by an impressive 56% in the last 24 hours, currently standing at $0.2601 on various trading platforms. This significant surge is creating a buzz in the altcoin market. The instant surge in GLMR’s price comes after the South Korean exchange Upbit announced its intention to list GLMR, the native token of Moonbeam Network, with BTC trading pairs. Since BTC is currently in the consolidation phase, other altcoins can target short and mid positions well.

Moonbeam Network and GLMR’s Significance

The market is buzzing with the news that Upbit, a major South Korean cryptocurrency exchange, may list GLMR, the native token of Moonbeam Network, as part of its efforts to expand its range of digital assets. This is a great moment for the coin as this will open the global market for the token.

Right now, Moonbeam Network, operating within the Polkadot ecosystem, aims to create a user-friendly smart contract platform akin to Ethereum’s Virtual Machine (EVM), focusing on fast and secure network operations. Herein, GLMR plays a vital role in Moonbeam Network, serving various functions, including transaction fee payments and staking participation.

Surprisingly, Upbit’s announcement made one thing clear: GLMR deposits will be accepted exclusively via the Moonbeam network, projecting a strong dedication to providing users with access to promising blockchain projects while implementing safety protocols like initial buyouts, order limits, and price restrictions during the initial trading phase.

Moonbeam Price Impact

The announcement has given an instant spark to the native coins price. Notably, GLMR had stayed below the $0.2 mark for weeks. Over the last 24 hours, GLMR surged by an impressive 51.33%, reaching $0.2506, with its market cap increasing by 51.78% to $186.63 million. Its trading value has also been boosted by 1512.64%, reaching $42.37 million.

With this development, will there be more adoptions since the market is recovering? The crypto space is now keenly observing the potential impact of this listing on GLMR’s future and the current bear market. Users on Upbit are anticipating the opportunity to engage with this exciting development as deposits open soon.

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