What is Moonbeam (GLMR) crypto? Everything you need to know

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What is Moonbeam (GLMR) crypto? Everything you need to know

What is Moonbeam (GLMR) crypto? Everything you need to know
Image source: © Whitebarbie | Megapixl.com
Highlights:
  • Moonbeam, launched in 2019 by Derek Yoo, is a smart contract para-chain on Polkadot.
  • It can be traded on exchanges like Binance, Huobi Global, etc.
  • The Moonbeam crypto returned gains of over 82% in the last 30 days.

Although the global crypto market was trading lower on Monday morning, some digital assets were witnessing considerable traction. The Moonbeam (GLMR) crypto price soared over 17%, although its trading volume declined around 50% in the trailing 24 hours to Monday morning.

In contrast, the global cryptocurrency market fell 0.20% to US$2.14 trillion at 7:07 am ET. Likewise, the one-day volume tumbled 7.38% to US$99.58 billion.

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What is Moonbeam (GLMR) crypto?

Moonbeam, launched in 2019 by Derek Yoo, is a smart contract para-chain on Polkadot. This Ethereum-compatible smart contract para-chain allows access to popular Ethereum developer tools to build or redeploy Solidity projects in a substrate-based environment.

It claims to be more than just being an EVM application. Its highly specialized para-chain mirrors Ethereum's Web3 RPC, accounts, and other features. It extends Ethereum’s base features with additional functions like on-chain governance, staking, and cross-chain integration.

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Moonbeam claims to offer unique services to users. For instance, its developers can use the existing Solidity smart contracts without rewriting or reconfiguring. In addition, it connects popular tools like MetaMask, Waffle, Truffle, etc., through a complete set of web3 RPC endpoints while using popular javascript libraries like Web3.js and Ethers.js.

Besides Polkadot para-chains, it offers integration and connectivity through bridges between other chains like Ethereum and Bitcoin.

These innovations are drawing investors' attention to Moonbeam crypto. On April 1, Moonbeam provided updates on the upcoming changes to staking. These changes are aimed at helping participants reach a consensus when processing transitions.

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In addition, Moonbeam announced that Pokassembly Governance and MetaMask integration is now live on Moonriver, and it will come soon to Moonbeam. The integration will assist users in participating directly in the platforms' governance and discussion.

These developments have helped gains in the GLMR token, which can be traded on exchanges like Binance, OKX, Huobi Global, etc.

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Moonbeam (GLMR) crypto price and performanceSource: *Data provided by CoinMarketCap.com

Bottom line:

The GLMR coin was priced at US$5.56 at 7:24 am ET on April 4, up 17.65%, while its one-day volume declined 50.75% to US$460.33 million. Its total supply is one billion, and its current circulating supply is over 206.06 million.

The coin has a market valuation of US$1.14 billion, while its fully-diluted market cap is over US$5.55 billion. It returned gains of 82.98% over the past 30 days.

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