The million-subscriber Youtube channel Altcoinbuzz offered reasonable reasons for an altcoin project with 50x expectations. Bitcoin and Ethereum gains push the entire market higher, but one Polkadot-based project should not be overlooked.
Million-subscriber analyst adds 50x expected altcoin project to crypto portfolio
In a new portfolio update, altcoinbuzz analysts scrutinized the opportunities of Moonbeam (GLMR). Moonbeam has the most advanced ecosystem for cross-chain communication. All of this happens on DOT, so interoperability is one of the first priorities for the project. Smart contracts already exist in DOT and Ethereum’s EVM. Moonbeam isn’t the only DOT project in this space, but it is the largest and most advanced in development.
Why is Moonbeam (GLMR) important?
Moonbeam describes itself as “a smart contract platform for cross-chain applications that combines functionality from Ethereum, Polkadot and beyond”. This feature means that developers can build their own decentralized applications or dApps compatible with Ethereum on Moonbeam.
They can use Ethereum’s Virtual Machine (EVM), the heart of the Ethereum network, which allows developers to create smart contracts and dApps in a computer language known as Solidity. Users don’t need to refactor or rewrite code to achieve this. It should be noted that it aims to be a new home especially for developers.
https://twitter.com/MoonbeamNetwork/status/1621989073320542212
Moonbeam news: A new Kusama parachain contract begins
In recent developments from the project, the Moonbeam Foundation has successfully managed to get itself another Kusama parachain lease. This gives Moonriver the opportunity to seamlessly function in a parachain role.
Moonriver managed to win the 67th Kusama parachain auction. Winning this offer allows Moonriver to continue operating in its current slot after the current lease period of 27 years has expired. The term of the newly acquired lease agreement will be at block 21,167,999 and over a maturity of approximately 300 days. This coincides with a time around December 2023.
https://twitter.com/MoonriverNW/status/1620130857989312512
Altcoin analysts are waiting for these levels on GLMR
Bitcoinwisdom’s price prediction chart predicts over 100x gains for the altcoin over the long term. Forecasts use real-time Moonbeam (GLMR) market data. While GLMR is currently trading at 0.4824, algorithm estimates expect it to climb to $0.728693 by the end of the year.
According to some, Moonbeam is one of the greatest cryptocurrencies to rise this year (GLMR). The GLMR price forecast for 2023 projects a significant increase in the second half of the year, possibly reaching $0.728693.
As Kriptokoin.com, we have covered the project in detail in this article. Longer-term price projections suggest that GLMR will climb around $5 from its current price.
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