As most cryptocurrencies work to begin the week on an outstanding high note, GLMR, the native token of the Polkadot parachain Moonbeam protocol, is unquestionably driving the trend among altcoins today. According to statistics from CoinMarketCap at the time of writing, the price of GLMR has increased by 50.2% in the last day and is currently trading at $0.2424 on spot trading platforms.
Even though the token seldom makes headlines for cryptocurrencies with such rapid development, the announcement that it would be listed on Upbit exchange has sent bullish shockwaves across the ecosystem as a whole. With intentions to launch the GLMR/BTC trading pair later today, the Upbit trading platform made the news earlier today.
Upbit, a significant Korean trading platform, has long served as the focal point of growth for the majority of tokens globally. The listing of GLMR has had a significant impact on the industry as a whole since Korea is one of the most significant centres for the trading of digital currencies. The market is certainly buzzing with the potential of the listing.
The present upshot is a significant jump that has helped Moonbeam, whose price has been trading well below the $0.2 price level for weeks, peel off the majority of its losses over the previous month.
Pushing Moonbeam Ideology
As one of the most significant protocols in the Polkadot ecosystem, Moonbeam has established a performance niche for itself through the adoption of highly effective decentralised applications (dApps), the development of a special incentive programme for early backers, and general mainstream collaboration.
In order to survive over the long term, Moonbeam must expand its reach and access through its Upbit listing as a significant rival of the Astar Network.
