- After a correction, GLMR is trading at $4.19, up 8.15 percent for the day.
- On-chain governance, staking, and cross-chain connections are standard features.
Several initiatives based on the Polkadot (DOT) cross-chain interoperability protocol have seen significant price increases due to this growth. The smart contract platform Moonbeam (GLMR) works as a Polkadot parachain and is compatible with Ethereum Virtual Machine (EVM).
Surge of More Than 100%
Staking, on-chain governance, and cross-chain connections are only some of the many capabilities offered by the project. Over $900 million in DOT tokens were loaned to Moonbeam in a crowd loan campaign. Moonbeam’s price has risen from $2.97 to $5.94 in the previous week, an increase of more than 100 percent. After a correction, GLMR is trading at $4.19, up 8.15 percent for the day.
Moonriver (MOVR), Moonbeam’s Ethereum-compatible smart contract platform, is also gaining ground. Using the Ethereum Virtual Machine (EVM), the project seeks to make it easier for developers to construct or relaunch programs based on the Solidity programming language to migrate their projects to Moonriver easily.
More than simply an EVM implementation, Moonbeam is a parachain that replicates Ethereum’s Web3 RPC, accounts, keys, subscriptions, and log data. On-chain governance, staking, and cross-chain connections are part of the Moonbeam platform’s standard feature set. Furthermore, to facilitate interoperability and communication between Polkadot Parachains and other chains, Moonbeam uses bridges to link the two networks. For Ethereum developers to overcome the scalability difficulties posed by the Ethereum network, Moonbeam comes as a viable option.
According to CoinMarketCap, the Moonbeam price today is $4.17 USD, with a 24-hour trading volume of $133,420,750 USD. Moonbeam has been up 8.42% in the last 24 hours.
