Moonbeam (GLMR) is the first active parachain on Polkadot, 200x increase after Binance listing

After many days of waiting, Moonbeam Network (GLMR), an Ethereum-compatible project, has officially been launched on Polkadot.

Moonbeam (GLMR) is the first active project on Polkadot, increasing 200 times after listing Binance
Moonbeam (GLMR) is the first active project on Polkadot, increasing 200 times after listing Binance

Moonbeam is the first parachain to go fully operational on Polkadot. The Moonbeam blockchain is ready to welcome the implementation of more than 80 projects, which is expected to “light up” Polkadot’s ecosystem in the same way that Moonriver’s mapping version has brought a lot of dApps and use cases. for Kusama.

This launch follows a widely supported crowdfunding campaign organized by the Moonbeam Foundation, which received over 35 million DOT, or $944 million, contributed by over 200,000 backers around the world. contribute. Moonbeam’s community network has both the largest number of contributors and the highest number of DOTs received of any organization.

30% of the rewards from the first community, totaling 45 million GLMR tokens, were distributed to the participants based on their share of the total raised funds. The remaining 70% (105 million GLMR tokens) will be issued incrementally over a 96-week parachain rental period.

Moonbeam’s plan after deploying directly to Polkadot is expected to include connecting more infrastructure projects. Some of them have been revealed through announcements from the project, including The Graph (GRT), Chainlink (LINK), etc.

Also on January 11, after being listed on the Binance exchange, GLMR grew from $0.25 to a peak of $51, which is 200 times its starting price. However, at press time, GLMR is trading at $8.76.

15m GLMR/USDT candlestick chart. Source: Binance
15m GLMR/USDT candlestick chart. Source: Binance

An interesting point is that before being listed on Binance, GLMR once reached a price of more than 500 USD when compared with Gate.io exchange data.

15m GLMR/USDT candlestick chart. Source: Gate.io
15m GLMR/USDT candlestick chart. Source: Gate.io

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The source: https://nguyendiep.com
Category: news

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