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Cryptocurrency exchange Binance announced the listing of the Polkadot-based altcoin Moonbeam (GLMR), after which the rate went up rapidly
Moonbeam is a smart contract platform that is compatible with the Ethereum Virtual Machine (EVM) and functions as the Polkadot parachain. The project goes beyond the basic functionality of Ethereum, offering staking, network governance, and cross-chain integration.
“Moonbeam is the first fully operational parachain powered by Polkadot. The Moonbeam launch was made possible by a successful fundraising campaign organized by the Moonbeam Foundation. More than 200,000 participants from all over the world provided 35 million DOT (about $ 944 million at that time), “the project team said.
The GLMR token had an initial value of $ 10.57, but it was able to skyrocket by almost 85% to a maximum of $ 19.5.
A similar project to Moonbeam called Moonriver (MOVR) also took off after listing on Binance (it happened in early November 2021). MOVR is powered by Kusama (KSM).
GLMR will reportedly be available in BTC, BUSD and USDT trading pairs.
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