New altcoin primarily based on Polkadot (DOT) explodes after launch and is shortly listed by Binance – The Day by day Hodl

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A highly anticipated Polkadot-based project brightens the night sky after the Binance crypto exchange announced plans to list the token.

Moonbeam (GLMR) is a smart contract platform that is compatible with the Ethereum Virtual Machine (EVM) and acts as a Polkadot parachain. The project goes beyond the basic functions of Ethereum by also offering staking, on-chain governance and cross-chain integrations.

The project highlighted its start in a series of tweets.

“Moonbeam is the first fully functional parachain on Polkadot.

The successful launch of Moonbeam follows a widely supported crowdloan campaign hosted by the Moonbeam Foundation! Over 35 million DOT tokens (~ $ 944 million at the time the crowdloan ended) were donated by 200,000 donors worldwide. “

The freshly minted altcoin was released yesterday at a price of $ 10.57, then rose 84.4% to a high of $ 19.50.

Moonbeam has since corrected and is currently trading at $ 13.47, an overall gain of 27.4% since its initial listing.

Moonbeam’s sister project Moonriver (MOVR) also saw a vertical rise in price after being listed by Binance in early November. MOVR works on Kusama (KSM), Polkadot’s Canarian network.

Polkadot (DOT) is the No. 9 crypto asset by market capitalization and is valued at $ 25.72. The interoperability project recently introduced its parachain function.

Binance says GLMR will be available in the Bitcoin (BTC), Binance USD (BUSD) and Tether (USDT) trading pairs.

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Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high-risk investments in bitcoin, cryptocurrency, or digital assets. Please note that your transfers and trades are made at your own risk and that any losses you incur are your responsibility. The Daily Hodl does not recommend buying or selling any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Selected image: Shutterstock / Tithi Luadthong / Natalia Siiatovskaia


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