GLMR, the native crypto of the Moonbeam protocol, surged over 50% after news broke of its upcoming listing on the South Korean crypto exchange, Upbit.
Moonbeam’s native token, GLMR, is experiencing a significant surge, rising by over 50% in the last 24 hours.
The surge comes on the heels of a Sep. 25 announcement by Upbit, a South Korean exchange, that will list GLMR on its exchange, with a GLMR/BTC trading pair set to go live later today.
The GLMR listing has sent a wave of excitement through the market, highlighting the move’s potential impact.
Moonbeam operates within the Polkadot (DOT) ecosystem and aims to offer a user-friendly smart contract platform. GLMR serves multiple functions within the Moonbeam Network, including facilitating transaction fees and staking.
Before the Upbit announcement, GLMR had been languishing under the $0.2 threshold for quite some time. Yet, the token has experienced a 35.11% increase in the last 24 hours, reaching a new peak at $0.2284. At the same time, its market capitalization has swelled by 50.82% to over $190 million.
Trading volume for the token has also seen a dramatic rise, surging by an astounding 2950% to reach over $91 million, as per data from CoinMarketCap.