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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Selected image: Shutterstock / Tithi Luadthong / Natalia Siiatovskaia