What is Moonbeam (GLMR)?
As blockchain developers concentrate on cross-chain platforms that enable connected applications, Moonbeam (GLMR), an Ethereum-compatible smart contract para chain on the Polkadot network, has gained popularity.
Moonbeam is a highly specialized para chain that matches Ethereum’s Web3 RPC, accounts, keys, subscriptions, logs, and more.
It is much more than just an EVM implementation. With extra features like on-chain governance, staking, and cross-chain integrations, the Moonbeam platform expands the core set of Ethereum functionalities.
Its main utility token on the Polkadot network is Glimmer (GLMR).
Who Are the Founders of Moonbeam?
Derek Yoo, CEO of PureStake, which offers safe public blockchain infrastructure for application developers, initiatives, and businesses, founded Moonbeam in 2019.
The chief operations officer (COO) for Moonbeam and PureStake is Stefan Mehlhorn, a specialist in managing early-stage businesses who formerly worked with Samsung Pay.
What makes Moonbeam Unique?
Instead of a Geth-based solution, Moonbeam provides an Ethereum-like environment on top of Substrate.
This enables developers to take benefit of the cutting-edge Substrate platform, on which all Polkadot para chains are based, while also effortlessly redeploying their current smart contracts using the same tools and interfaces they already use.
Developers with Solidity- or Vyper-based smart contracts can “go multi-chain” and expand their influence into the Polkadot ecosystem thanks to the Moonbeam network.
The blockchain from Polkadot guarantees easy workload sharing on a new layer.
Through Moonbeam, developers can construct new permissionless decentralized applications (dApps) using well-known Ethereum development tools or effortlessly migrate their current Ethereum DApps to Polkadot.
When front-end dApps are migrated between chains, the tools on Moonbeam ensure little change.
Ethereum developers will be able to avoid the scalability issues brought on by the cost and limitations of the Ethereum network by using Moonbeam.
How Many GLMR is in Circulation?
Glimmer (GLMR), the native token of Moonbeam, was released in a closed community event called Take Flight.
100,000,000 GLMR (10% of the total supply) were distributed during the Moonbeam community event.
There are 552,400,302 GLMR coins in circulation, and the maximum supply is unknown.
Moonbean token price Predictions by year 3035
Price predictions table: 2024-2035
| Year | Max Price | Average Price | Min Price | Detailed Prediction |
|---|---|---|---|---|
| 2024 | $25 | $15 | $10 | In 2024, Moonbeam (GLMR) is expected to have a price ranging from $10 to $25, with an average price of $15. Factors influencing this could include continued development progress on the Moonbeam network, increased adoption of decentralized applications (dApps) on the platform, and overall market sentiment towards interoperable blockchain solutions. Technological advancements such as enhancements in cross-chain compatibility and scalability could attract more projects and users to Moonbeam, driving up demand for GLMR tokens. Moreover, partnerships with existing blockchain projects or integration with popular DeFi protocols could further bolster Moonbeam’s ecosystem and support price appreciation. However, market volatility and regulatory developments may also impact price movements. |
| 2025 | $35 | $28 | $12 | By 2025, Moonbeam’s price could experience significant growth, with a price range of $12 to $35 and an average price of $28. Continued enhancements in Moonbeam’s technology, such as improvements in smart contract functionality and developer tools, could make it an attractive platform for building decentralized applications. Increased adoption of Moonbeam by developers and users could drive up demand for GLMR tokens, pushing prices higher. Additionally, strategic partnerships with other blockchain projects, DeFi protocols, or mainstream companies could expand Moonbeam’s reach and utility, further supporting price appreciation. However, regulatory uncertainties and competition from other interoperable blockchain platforms could pose risks to Moonbeam’s price trajectory. |
| 2030 | $50 | $30 | $15 | Looking ahead to 2030, Moonbeam’s price is forecasted to continue rising, with a price range of $15 to $50 and an average price of $30. By this time, Moonbeam may have established itself as a leading interoperable blockchain platform, with a thriving ecosystem of dApps and DeFi protocols. Technological advancements such as improvements in interoperability with other blockchains and enhancements in governance mechanisms could further drive demand for GLMR tokens. Strategic partnerships with major players in the blockchain industry or integration with emerging technologies could provide additional validation and accelerate Moonbeam’s growth, leading to higher prices. However, regulatory challenges and technological disruptions could still impact price stability. |
| 2035 | $150 | $80 | $50 | By 2035, Moonbeam’s price is expected to reach new highs, with a price range of $50 to $150 and an average price of $80. Continued innovation in Moonbeam’s protocol and ecosystem could solidify its position as a key player in the blockchain space. Increased adoption by enterprises, governments, and mainstream users could drive significant demand for GLMR tokens, pushing prices higher. Moreover, strategic partnerships with global organizations or integration with emerging technologies could further enhance Moonbeam’s utility and value proposition, supporting long-term price appreciation. However, regulatory changes and competition from other blockchain platforms could still pose risks to Moonbeam’s price outlook. |
Factors influencing the price of Moonbeam (GLMR) include:
- Market Trends: Overall trends in the cryptocurrency market, including investor sentiment, trading volume, and market capitalization.
- Technological Advancements: Progress in Moonbeam’s technology, such as improvements in interoperability, scalability, and smart contract functionality.
- Adoption of Decentralized Applications: Growth in the adoption of dApps on the Moonbeam platform, leading to increased demand for GLMR tokens.
- Partnerships: Collaborations with other blockchain projects, DeFi protocols, enterprises, and mainstream companies to expand Moonbeam’s ecosystem and utility.
- Regulatory Environment: Changes in regulations related to cryptocurrencies and blockchain technology, which could impact Moonbeam’s operations and market dynamics.
- Market Sentiment: Public perception of Moonbeam’s potential, influenced by media coverage, community engagement, and developer activity.
- Competition: Competition from other interoperable blockchain platforms offering similar features and services, which could affect Moonbeam’s market share and price performance.
How is the Moonbeam Network Secured?
The Moonbeam project is moving toward a decentralized form of government. Participants in the network can access the essential features of the network through the utility token Glimmer (GLMR).
Owners of GLMR will be able to submit referenda, cast ballots, and choose council representatives. A representation of the proof-of-stake consensus mechanism proposed by Polkadot.
A Polkadot sharded design and shared security umbrella give Moonbeam more scalability and security.
How Can Crypto Investors Use Moonbeam (GLMR)?
Utilizing their GLMR will enable users to receive low-risk rewards. You can sell your coins to coin collectors via Moonbeam.
Then they give these nodes rewards for their security-related contributions to the platform.
According to the stipulated amount of participation, they distribute the prizes among those who participated.
To use the functions and features of the site, Moonbeam buyers must possess GLMR. In the ecosystem, GLMR serves as the primary utility token.
It is used for gas fees, creating smart contracts, transactions, transferring money, and staking.
Moonbean Buying Guide
Purchasing GLMR is a straightforward process, similar to acquiring other cryptocurrencies. It involves a few key steps:
- Choosing an Exchange: GLMR is available on several exchanges such as Binance. Select an exchange that best suits your needs in terms of fees, security, and user interface.
- Setting Up an Account: Once you’ve chosen an exchange, the next step is to set up an account. This will typically involve providing some personal information and going through a verification process.
- Selecting Payment Methods: After your account is set up and verified, you’ll need to link a payment method. Most exchanges accept bank transfers,credit cards, and sometimes even PayPal.
- Storing GLMR Securely: After purchasing GLMR, it’s essential to store it securely. While you can keep it in your exchange wallet, a more secure option is to transfer it to a private wallet, like a hardware wallet, especially if you’re planning to hold it long-term.
FAQs
- Is Moonbeam coin a good investment?
This past year, Moonbeam emerged as one of the most talked-about cryptocurrencies. Given this, it becomes sensitive to conclude that GLMR is a wise investment.
- Is Moonbeam a cryptocurrency?
Moonbeam is a Polkadot blockchain-based crypto coin.
