The Rise of GLMR: Moonbeam’s Native Token Surges Over 50% Ahead of Upbit Listing
The value of GLMR, the native cryptocurrency of the Moonbeam protocol, has risen by more than 50% after news emerged of its upcoming listing on the South Korean cryptocurrency exchange, Upbit.
Major Boom for GLMR
Moonbeam’s native token, GLMR, is experiencing a major boom, rising more than 50% in the past 24 hours.
Excitement Surrounding Upbit Listing
The rise follows a September 25 announcement by Upbit, a South Korean exchange, that it will list GLMR on its exchange, with the GLMR/BTC trading pair going live later today.
GLMR’s listing has sent a wave of excitement through the market, highlighting the potential impact of the move.
Moonbeam’s Role in the Polkadot Ecosystem
Moonbeam operates within the Polkadot (DOT) ecosystem and aims to offer an easy-to-use smart contract platform. GLMR serves multiple functions within the Moonbeam network, including facilitating transaction fees and collections.
Increase in Value and Market Capitalization
Before Upbit’s announcement, GLMR had been under the $0.2 threshold for some time. However, the token saw a 35.11% increase over the past 24 hours, reaching a new peak at $0.2284. Meanwhile, its market capitalization swelled by 50.82% to over $190 million.
Surge in Trading Volume
Trading volume for the coin also saw a significant rise, rising by a staggering 2,950% to over $91 million, according to CoinMarketCap data.
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