Upbit, South Korea’s largest cryptocurrency exchange, announced its plan to list Moonbeam (GLMR). He also announced his decision to introduce the GLMR/BTC trading pair. This strategic move was welcomed with enthusiasm by both traders and investors. This enthusiasm was evident with a 50 percent rise in the altcoin price. Here are the details…
Upbit’s altcoin listing sends GLMR soaring
As we reported as Kriptokoin.com, Upbit, one of the popular South Korean exchanges, made a new announcement. Upbit announced that it will list Moonbeam. This announcement increased the price of GLMR to a staggering $0.2453, a significant 50 percent increase in just 24 hours. The exchange wants to open GLMR deposits within the next three hours. It also plans to only support Moonbeam Network deposits.
Moonbeam, the cryptocurrency at the center of this exciting development, is not a typical digital asset. It represents a groundbreaking Ethereum-compatible smart contract coin-chain operating within the Polkadot ecosystem. What sets Moonbeam apart is that it integrates seamlessly with popular Ethereum developer tools, providing a bridge for Solidity projects to develop in Polkadot’s Substrate-based environment.
Moonbeam offers many features
Beyond Ethereum compatibility, altcoin Moonbeam offers a wealth of features that go far beyond the capabilities of a typical EVM (Ethereum Virtual Machine) application. One of the standout features is the ability to mirror Ethereum’s Web3 RPC, which allows developers to access core functionality such as accounts, keys, subscriptions, logs, and more. This provides a familiar development experience for Ethereum developers while also offering them the benefits of the Polkadot ecosystem. But Moonbeam’s value proposition doesn’t end there. This particular parachain offers a number of advanced features that improve user experience and project functionality. Here are some important points:
- On-chain governance: Moonbeam includes an on-chain governance model that allows the community to actively participate in decision-making processes. This feature fosters a decentralized ecosystem where token holders have a say in the future of the network.
- Staking: Staking mechanisms are an integral part of Moonbeam’s infrastructure and provide opportunities for token holders to earn rewards by participating in network security and consensus.
- Cross-chain integration: Moonbeam is designed with interoperability in mind, facilitating seamless connections with other Blockchains in the Polkadot ecosystem. This cross-chain compatibility opens new avenues for decentralized applications (dApps) and DeFi projects.
Moonbeam’s potential is recognized
Upbit’s decision to list GLMR and offer the GLMR/BTC trading pair underscores the growing recognition of Moonbeam’s potential in the crypto space. This move by Upbit, one of South Korea’s leading cryptocurrency exchanges, is likely to attract more interest and investment into Moonbeam and the broader Polkadot ecosystem. Moonbeam’s rise as an Ethereum-compatible parachain on Polkadot has created significant buzz within the blockchain community. Its ability to combine the strengths of both Ethereum and Polkadot while offering new features positions it as a promising platform for decentralized innovation.
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