The Moonbeam network was founded in January 2020 to provide cross-chain communication across the world’s major blockchain networks. With CEO Derek Yoo, Moonbeam’s co-founder and commander-in-chief from Purestake, and COO Stefan Melhorn, the Moonbeam Flight Crew founded Moonbeam in January.
Moonbeam smart contracts are created by the company Pure Stake, which also provides protocol implementation services and produces tools for blockchain networks. Moonbeam is a for-profit company based in Boston, Massachusetts. In August 2020, the Web 3.0 foundation awarded Pure stake a grant for their efforts in building Ethereum interoperability on the Moonbeam network.
What is Moonbeam (GLMR)?
In order to aid in the creation of a web 3.0 remote procedure call (RPC), which enables developers to run Ethereum applications on a Moonbeam network, Pure stake was awarded the funds by the Ethereum Foundation. In September 2020, the business announced the completion of a $1.4 million fund for Moonbeam. This was headed by heavyweight venture capital firm Hypersphere Ventures and included a number of other well-known organizations as participants.
Afterward, the monies were utilized to aid employees on the Moonbeam network in their efforts to speed up the process and create a polka dot-based smart contract platform that was Ethereum-compatible. Later, in late March 2021, Purestake announced the successful conclusion of a six million dollar strategic fundraising round, which was headed by CoinFund and featured Binance Labs as a participant.
Moonbeam’s Journey in the Polkadot Network
A grant from the Web 3 Foundation, as well as a vote of confidence, have enabled Moonbeam to complete its seed and critical rounds of funding. The platform remained largely obscure till November 2021, when it was granted Polkadot para-chain status, indicating that it has a promising future. And over 200,000 Moonbeam fans collectively contributed almost a billion US dollars in dots to help the company attain the desired power chain.
A short time later on, the Moonbeam team started the process of transitioning the platform to the Polkadot network. On January 11th of this year, the Moonbeam platform became operational on the Polkadot network. With the addition of smart contracts, Moonbeam has evolved into a para-chain that interacts with and supports Ethereum virtual machines based on the Polkadot pattern.
What is the Polkadot Network, And How Does it Work?
The Polkadot has been referred to as the “blockchain of blockchains” in certain sectors. It was founded by Gavin Wood, a co-founder, and developer of the Ethereum cryptocurrency. The platform’s core principle is that no one blockchain is suitable for every use case, and as a result, the web needs an inner lining that links several chains. Polkadot is the essential layer-0 foundation that powers a vast network of layer-1 blockchain networks known as parachains. Polka Dot is the basis for the Polka Dot network.
Moonbeam is one of the parachains that runs in parallel with the core relay chain and links to it as well as the other parachains. It is connected to the core relay chain and the other parachains. The polka dot provides standardized security and cross-chain compatibility functions, but each para-chain maintains ownership and independence over its own network, despite the fact that they share the polka dot’s benefits. A stumbling barrier between where we are now and where we want to be in the future is the lack of cross-chain interoperability, which is characterized by a free web built on autonomous blockchain-based systems rather than owned and controlled, centrally controlled networks.
What Services Does Moonbeam Provide?
Moonbeam provides a number of valuable tools, services, and activities that most of its rivals do not, enabling it to meet its multi-chain objectives. It contains the following features:
- A big, growing ecosystem
- APIs for the Web 3.0
- A compatibility environment for substrates
- Connections that are cross-chain compatible
- Unique Smart Contract technology
Moonbeam has so far incorporated a variety of online services, connections, DApps, miners, storage providers, and web 3.0 wallets, all of which can connect to Moonbeam’s multiple ecosystems, including Polkadot and Ethereum.
Moonbeam (GLMR) Price Analysis
When it comes to investing in Bitcoin, understanding the circulating supply and market capitalization are critical. So, how do you calculate market capitalization? Multiply your circulating supply by your pricing to get your market cap. Moonbeam has a market value of $325.28 million with 272 million coins in circulation and a price of $1.20. In all, $325 million are currently invested in Moonbeam throughout all exchange ecosystems across the globe.
Bitcoin, for example, reached a peak of $68,500. A total of 1.3 trillion dollars was invested in the market of Bitcoin at the time. For the price of Moonbeam to reach five dollars, the market cap must be 950 million dollars; for it to reach a price of $20, the market cap must be $4 billion. To reach a price of $250, a market capitalization of $47 billion would be necessary.
Crypto Academy Moonbeam (GLMR) Price Prediction
Following extensive research, we at the Crypto Academy have come up with a Moonbeam price forecast. However, though, we highly suggest you do your own research before investing in any project since this is not financial advice in any form whatsoever.
Moonbeam (GLMR) Price Prediction 2022
So, as we speak, the price of Moonbeam is rapidly rising. With a price of $1.20 and a circulating supply of 272 million, and a maximum supply of 1.01 billion, Moonbeam (GLMR) is presently ranked #107 regarding market cap. We believe that Moonbeam is likely to end the year 2022 with a possible price between $2.80-$3.10.
Moonbeam (GLMR) Price Prediction 2023
We anticipate that by 2023, Moonbeam will have reached a peak price of $3.80. But given the current events around the globe, every industry will bear a severe toll in the years ahead. That being said, we predicted that the price might go as low as $2.90. Of course, this might change if the market gets bullish. Although another bull run is less likely to happen in 2023, the crypto market is volatile and unexpected.
Moonbeam (GLMR) Price Prediction 2024
The year 2024, on the other hand, will be a completely different story. The Bitcoin halving will take place in 2024. As a consequence, Moonbeam, as well as the whole crypto market, is likely to flourish. According to our forecast, the lowest price Moonbeam will achieve this year is $5.00, with the greatest price reaching $6.90. Our prediction shows Moonbeam ending the year 2024 with a possible trading value of around $6.35.
Moonbeam (GLMR) Price Prediction 2025
In 2025, the whole market, including Moonbeam, is most likely to become bullish. This might lead to Moonbeam achieving high values as a result of the Bitcoin halving and the increasing adoption of blockchain technology. The market cap of Moonbeam is expected to reach a value of $3 billion by 2025. Moonbeam is expected to attain the lowest price of $8.20 this year, with a 2025 yearly high of $9.10.
Moonbeam (GLMR) Price Prediction 2026
As for 2026, we believe that cryptocurrencies and blockchain technology will have reached a higher level of adoption. This might lead to less volatility and more stability. As a result, Moonbeam could end the year 2026 with a price of +-10% of the price it had at the beginning of the year, leaving at a price of $10.
Frequently Asked Questions (FAQs)
Where to Buy Moonbeam?
If you’re looking for a place to purchase Moonbeam, the best cryptocurrency exchanges to use right now are Binance, KuCoin, Kraken, Huobi Global, and ByBit.
Is Moonbeam (GLMR) a Scam?
You may feel confident that Moonbeam is safe and is not a scam whatsoever. However, it is your responsibility to be aware of any warning flags if you are about to invest. The crypto market is extremely volatile.
What is Moonriver?
Located on Kusama, Moonriver is a sister para-chain of Moonbeam, and it is also community-led. It is an incentivized canary network that has the most up-to-date features to test and validate under real-world economic circumstances before delivering to Moonbeam on Polkadot, and it is run by the Polkadot Foundation.
What are Nimbus keys?
The Nimbus-Key ID System is a patented system that adds a new degree of security to business authentication. With so many workers working from home and checking in with their login and password, the company faces a serious security risk.
How to invest in Moonbeam?
Trading involves risk which may result in the loss of capital. But if you want to invest in Moonbeam, you should buy GLMR tokens. You can do this through a centralized exchange such as Binance, Kraken, KuCoin, Gate.io, and so forth. Since Moonbeam is a major cryptocurrency exchange, it is very liquid and can be found in most exchanges.
Takeaways:
- The Moonbeam network was launched in January 2020 with the goal of facilitating cross-chain communication across the world’s most popular blockchain networks.
- The platform was mostly unknown until November 2021, when it was given polka-dot parachain status, signaling that it has a bright future.
- Moonbeam supporters donated over a $1 billion in DOT to assist the firm to achieve the power chain it sought.
- The Moonbeam platform went live on the Polkadot network on January 11th of this year.
- Moonbeam now supports a wide range of online services, connections, DApps, miners, storage providers, and web 3.0 wallets, all of which may connect to Moonbeam’s many ecosystems, including Polkadot and Ethereum.
- With 272 million coins in circulation at a price of $1.20, Moonbeam has a market cap of $325.28 million.
- The number of persons who use social media has decreased by 24%.
- Binance, KuCoin, Gate.io, Kraken, and Huobi Global are the best cryptocurrency exchanges to use right now if you want to buy Moonbeam.