Despite the market decline, Moonbeam (GLMR) surged more than 50% on September 25, attracting investors' attention with its strong performance.

Despite the lackluster broader market momentum, the Moonbeam (GLMR) cryptocurrency was one of the top gainers in the cryptocurrency market on Monday, September 25. The cryptocurrency has surged over the past 24 hours, indicating rising investor interest. Meanwhile, the price of Moonbeam Network’s native token GLMR surged after South Korean exchange Upbit announced that it would allow trading against BTC.

Upbit Lists Moonbeam’s GLMR Token

Upbit, a leading South Korean cryptocurrency exchange, announced plans to list Moonbeam Network’s native token GLMR. The move is an effort to expand its product offering and provide users with access to promising digital assets.

It is worth noting that Moonbeam Network is a Polkadot parachain project that focuses on creating a smart contract platform with a user-friendly environment similar to the Ethereum Virtual Machine (EVM). The project aims to execute transactions and create blocks through the verification of the Polkadot relay chain, thereby achieving high-speed network operation with strong security.

At the same time, GLMR plays a key role in the Moonbeam Network ecosystem. It has multiple uses, including facilitating transaction fee payments, supporting participation in staking, and serving as a payment method for digital asset transactions within the network.

Meanwhile, Upbit’s announcement shows that GLMR will start being deposited on the exchange within three hours of the announcement. However, it should be noted that GLMR only accepts deposits through the Moonbeam network and does not accept deposits from other networks such as BSC.

The focus on Moonbeam Network deposits highlights Upbit’s commitment to providing users with access to promising blockchain projects. Furthermore, it is also in line with the exchange’s strategy to support assets with strong potential in the cryptocurrency market.

In order to ensure a safe trading environment and provide users with accurate market information, Upbit has implemented specific restrictions on GLMR trading. These restrictions include initial purchase order limits and price limits to minimize risks in the initial trading stage.

Moonbeam Price and Performance

Upbit’s announcement detailing its decision to list GLMR has already had a significant impact on the token’s value. Over the past 24 hours, GLMR’s price has surged by as much as 51.33% to $0.2506. Its market cap has also risen by 51.78% to $186.63 million during the time of writing, with its trading volume surging by 1512.64% to $42.37 million in the last 24 hours.

While the cryptocurrency market is known for its volatility, the surge in GLMR’s price highlights the growing interest in blockchain projects.

Meanwhile, the cryptocurrency community is closely watching the impact of this listing on the future of GLMR and its potential to contribute to the wider market. With deposits set to open soon, users on Upbit will have the opportunity to participate in this exciting development.

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【Disclaimer】The market is risky, so be cautious when investing. This article does not constitute investment advice, and users should consider whether any opinions, views or conclusions in this article are suitable for their specific circumstances. Investing based on this information is at your own risk.