Moonbeam (GLMR) price up 55% despite broad market decline – here’s why

2023-9-26 12:40

The Polkadot-based parachain Moonbeam has dominated the crypto market trends today, with its native token, $GLMR, gaining more than 55% over the last 24 hours.

GLMR daily price chart on Coinmarketcap

GLMR defied the broad market’s bearish mood following the latest announcement by the top Korean exchange Upbit.

Upbit to list Moonbeam

Upbit Korea confirmed plans to list Moonbeam’s GLMR on Monday, September 25. The altcoin gained an upside stance following the announcement. Moonbeam will enjoy improved liquidity as it enters the wide Korean marketplace.

Moreover, the news confirms Moonbeam’s increasing popularity in the financial space. Meanwhile, Upbit Korea users can start trading GLMR against Bitcoin as of today (September 25) at 18:00 Korean Standard Time.

GLMR reacted to the announcement with massive bullishness. Its 24-hour volume has gained a staggering 2,049% to $57,823,742, whereas a 56.90% uptick placed its market cap at $196,183,002.

Meanwhile, the impressive price surge came as the broad crypto sector experienced bearishness. The cryptocurrency market cap plunged by 1.25% within the past day.

Bitcoin exhibited bearish tendencies in all its timeframes. The leading crypto lost 3.28%, 1.77%, and 0.19% in the last seven days, 24 hours, and one hour, respectively.

BTC daily price chart on Coinmarketcap About Moonbeam Network

Moonbeam is a Polkadot-based parachain that builds user-friendly smart contract platforms. It targets top-notch speed in network operations without compromising on security. GLMR coins serve various purposes within the Moonbeam network, including fee payments and allowing holders to participate in staking.

Meanwhile, the latest announcement shows Upbit’s dedication to offering its clients lucrative crypto projects. Furthermore, it matches the exchange’s mission to provide assets with promising potential.

Besides boosting liquidity and trading volume, the exchange listing will introduce Moonbeam to crypto fans in Korea, catalyzing more adoption for the project. That would lead to impressive growth and price surges.

The post Moonbeam (GLMR) price up 55% despite broad market decline – here’s why appeared first on Invezz.

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