In this Article we are going to deep dive in to MoonBeam(GLMR) Coin and see whether MoonBeam(GLMR) is a worthy cryptocurrency to invest in 2023 and in upcoming years.
As the number of total cryptocurrencies in the market is rapidly increasing, it’s hard to tell and spot a scam project or cryptocurrency. That’s the reason why through these articles we try to do our analysis on different cryptocurrencies.
While this Analysis and Review is based on Fundamentals analysis, viewers and readers are advised to do their own research before investing.
So, Let’s Begin
What’s MoonBeam(GLMR) Coin is All About?
MoonBeam(GLMR) coin was launched in december, 2020. Moonbeam is a smart contract parachain that is built on the Polkadot protocol and is compatible with the Ethereum blockchain.
Unlike Ethereum, Moonbeam is a highly specialized parachain that is compatible with Ethereum’s Web3 RPC as well as its accounts, keys, subscriptions, logs, and other features.
Moonbeam simplifies the process of developing and deploying Solidity applications in a Substrate-based environment by leveraging widely used Ethereum developer tools.
Ethereum’s core feature set is expanded with capabilities such as on-chain governance, staking, and cross-chain interoperability provided via the Moonbeam platform.
MoonBeam(GLMR) Vision & Goal for future Developments.
With many chains, as well as a large number of users and assets, we envision a multi-chain future. So we created Moonbeam, a smart contract platform that enables developers to build decentralized applications in an Ethereum-compatible environment. Moonbeam was developed to accommodate these new types of assets and users who operate across many chains.
What makes MoonBeam(GLMR) Unique and Key Features of Platform.
Moonbeam achieves these goals through the implementation of the following critical features:
- Full EVM Implementation – It allows Solidity-based smart contracts to be moved with the least amount of modification and with the expected execution outcomes.
- Native cross-chain integration with Ethereum and other chains is achieved using the Polkadot network and token bridges, allowing for token transfer, state visibility, and message transit between the two chains.
- On-Chain Governance is designed to allow stakeholders to adjust the underlying protocol quickly and without forking in response to developer and community requests without causing a fork.
Summary
Well, MoonBeam(GLMR) Is developing which will be the need in upcoming future in crypto market which is multi chain, With real world usecases of this cryptocurrency, MoonBeam(GLMR) looks promising for the upcomign future.
MoonBeam(GLMR) – Founders , Team and Roadmap
Derek Yoo founded the Moonbeam Network, and Stefan Mehlhorn, an expert in early-stage firm management and operations, is the chief operations officer of both Moonbeam and PureStake.
It was PureStake who founded both the moonbeam and moonriver networks, both of which are backed by the Moonbeam Foundation. Each of these organizations works together to bring inventor Derek Yoo’s vision of a multi-chain future to fruition.
MoonBeam(GLMR) Roadmap & Future Price Growth Potential for 2023 and beyond.
MoonBeam(GLMR) team is actively developing the platform and MoonBeam Went live on Polkadot in December, 2021 and became one of the first parachains in the ecosystem. MoonBeam(GLMR) does share latest developments on their twitter and other social media. Check Below Image for upcoming developments in MoonBeam.
Summary
Well, With Current Accomplishments, MoonBeam(GLMR) Team indeed is capable of making MoonBeam Successful. While the fundamentals looks promising and with useful tech, MoonBeam(GLMR) future looks bright.
MoonBeam(GLMR) coin Tokenomics
MoonBeam(GLMR) is currently trading at about $2.50 and is down around 4% in the last 24hrs. MoonBeam(GLMR) has a market cap of approax $455,988,699
MoonBeam(GLMR) has a circulating supply of 183,829,919 coins with max supply of 1,000,000,000 coins.
Conclusion
While MoonBeam(GLMR) indeed looks very good but as MoonBeam has been in a continuous downtrend for a long period. It’s down from $16 to currently trading at $2.50 which shows the price action is bearish while it’s recommended to wait for the trend reveral to maximize profits. Hence, It’s not recommended to invest in MoonBeam(GLMR) until the bearish trend reversal. For Technical analysis and Price predictions of MoonBeam Check out our Price Prediction for MoonBeam
Read our Review and analysis of Orion Protocol (ORN) here
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Disclaimer
This material is primarily for the aim of educating the reader. It does not constitute a formal offer to buy or sell anything, nor does it constitute a recommendation or endorsement of any specific products, services, or enterprises. Cryptonks.com does not provide any financial, legal, or accounting advice to its visitors. Neither the firm nor the author shall be liable for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in this post, whether directly or indirectly, whether in contract or tort (including negligence). Viewers should perform their own research before making any type of investment in a cryptocurrency.
