Moonbeam‘s native token, GLMR, spiked by nearly 50% in the last 24 hours following the South Korean crypto exchange, Upbit, adding the crypto coin to its exchange.
The TL;DR:
- GLMR witnessed almost a 50% price jump following new Upbit listing.
- Consequently, GLMR has hit a peak of $0.2456 from $0.2 in 24 hours.
- Upbit also teases launching the trading pair GLMR/BTC later today.
GLMR’s Upbit Listing Fuels Excitement
Moonbeam functions on the Polkadot (DOT) blockchain network with a clear mission since day dot — to supply a seamless smart contract platform. Within its ecosystem, GLMR serves a variety of duties, including facilitating staking and transaction fees.
Earlier, Upbit announced on Twitter that it has listed GLMR on its exchange, with a GLMR/BTC trading pair poised to launch later today, on September 25.
Before Upbit’s announcement, GLMR remained underneath the $0.2 threshold for an extended period. Within just 24 hours, the token has witnessed a remarkable surge of 46.70%, scaling a new pinnacle at $0.2456.
Consequently, GLMR’s market capitalization has soared by 46.88%, surpassing the $180 million mark, as per CoinMarketCap (at this time of writing).
Upbit’s Influence on the Crypto World
Upbit is a centralized cryptocurrency exchange established in 2017. As of now, it leverages 192 different cryptocurrencies alongside 305 trading pairs.
The platform boasts a 24 hour trading volume of $1,164,611,055.30. Notably, its most actively traded pair is LOOM/KRW, with a $126,544,988.22 daily turnover, according to CoinGecko.
Interestingly, however, the ecosystem goes beyond being just an exchange but also an NFT marketplace. Additionally, it offers free cryptocurrency counseling via the Upbit Care Centre, operating internationally through legal entities in Singapore, Indonesia, and Thailand, sharing liquidity in both USDT and BTC-based pairs.
Upbit’s sizeable amount of daily trading volume underscores its role in the cryptocurrency market, as does its array of user-friendly features. This, in turn, garners excitement surrounding its recent listing of GLMR and its forthcoming pair-up.
