Before making any investments in the crypto sector, be sure you have done your research. Cryptocurrencies might be beneficial at times, but they can also be risky. It’s crucial to know that before you invest, you’ve decided on the amount you’re okay with.
Because Moonbeam is a new network, things are likely to change in the future. This network is now exhibiting promising indicators, but it is still too early to tell whether it will have a significant influence on the cryptocurrency market.
What is Moonbeam?
Derek Yoo, the founder of Pure Stake, launched the firm in early 2019. After a long and somewhat successful career as an entrepreneur, Derek saw the potential of the Bitcoin area and jumped in with both feet. He was looking for a way to differentiate himself on the technical side of crypto, and after six to eight months of study, he discovered Polkadot and the opportunity to build on Ethereum.
Even though it has attracted a lot of investor interest, Moonbeam is a new currency. While Moonbeam’s price history is quite brief, it is still worth looking at since, while previous performance is no guarantee of future outcomes, it may provide some insight into how to make a Moonbeam price prediction. Those who have Moonbeam (GLMR) can access the site’s features and capabilities. In the ecosystem, GLMR is the main utility token.
What is GLMR?
Glimmer, the Moonbeam network’s utility token, is now fully transferable and functional. This is without a doubt the most significant development. In addition to collator staking, the Moonbeam network has gained a few new capabilities as a consequence of this announcement. Giving the Glimmer token to collaborators and other users may greatly aid the network’s infrastructure.
It is used to pay for gas expenditures while creating smart contracts, completing transactions, moving money, and staking. GLMR is compatible with more Polkadot ecosystem services.
What is Moonriver?
Moonriver is a Moonbeam development stream for those who wish to get their projects up and running fast. To test and assess their Dapps in real-world economic circumstances and to gain input from the community, developers may utilize this network to do so. You can also use GLMR to test and develop new features for the Moonbeam network.
This also makes the Polkadot more secure by ensuring that only ready-to-market connections are delivered to Moonbeam on the Polkadot blockchain. Moonbeam and Moonriver are the first Polkadot networks to be deployed on the Ethereum mainnet and the first to be deployed to the public.
What Makes Moonbeam Unique?
In the cryptocurrency world, good governance is crucial. Moonbeam is a project that acknowledges this and has together a strong team of experienced developers to create a platform that is simple to use and navigate. Another factor to consider when considering whether or not to invest in a project is the team’s responsiveness to the people who will utilize it.
Another thing to consider while thinking about Moonbeam is that they have a very active strategy. The team is constantly developing new features and improvements, displaying their commitment to the project’s success. This project has a bright future ahead of it, with so much development underway.
Aspects that Moonbeam Reaches
Full EVM Implementation enables Solidity-based smart contracts to migrate with the least amount of change and with the execution results you want. The Polkadot network and token bridges enable token transfer, state visibility, and message transit across the two chains, allowing for native cross-chain interoperability with Ethereum and other chains. On-chain governance is intended to enable stakeholders to swiftly and without forking alter the underlying protocol in response to developer and community needs.
Conclusion: Is Moonbeam a Good Investment?
Moonbeam has lately shown a lot of potential, and now might be a great moment to buy. This project arrived exactly on time. These companies are passionate about finding a way to get around the current gas tariffs while also enhancing the customer experience.
Moonbeam addresses these difficulties while also providing developers with more options. As a result, it is widely used by the Polkadot and Ethereum networks. You may expect more goods from this project team as the protocol’s marketing strategy grows over the following several months.
Moonbeam (GLMR) Price Forecast
We at Crypto Academy did our research around Moonbeam and its native token, Glimmer (GLMR). Our forecast shows GLMR potentially ending the year 2022 with a trading value of $2.50. As for 2023, the price of GLMR could bounce between $2.30-$3.50. When it comes to the long term, Moonbeam is likely to perform positively. The year 2024 is likely to be a fruitful year for GLMR investors because of the Bitcoin halving event. That being said, we predict a possible price above $6.10. By the end of 2026, GLMR might surpass the $10 milestone.
Takeaways:
- The Moonbeam Mechanism (GLMR) Parachains refer to the Decentralized networks based on the Polkadot and Kusama cryptographic ledgers.
- You can stake tokens in the proportional electoral system.
- Moonbeam employs Polkadot’s consensus method.
- In order to get their projects off to a solid start, Moonbeam developers use the Moonriver stream.
- You can trade GLMR on Binance, KuCoin, Kraken, and other exchanges with the following currency pairs: USDT, BUSD, and BTC. Coinbase has removed the token as of March 28.