South Korea’s Largest Exchange Upbit to Introduce GLMR Trading Pairs, Resulting in Over 45% Surge in GLMR Value

Crypto News- Upbit, a prominent cryptocurrency exchange based in South Korea, has made a substantial announcement concerning its intention to list GLMR and extend support for the GLMR/BTC trading pair.

South Korea’s Largest Exchange Upbit to Introduce GLMR Trading Pairs, Resulting in Over 45% Surge in GLMR Value

Within the next three hours, users can anticipate the availability of GLMR deposits, although it’s essential to note that only deposits originating from Moonbeam Network will be accepted. Deposits from other networks, such as Binance Smart Chain (BSC), will not be accommodated. The commencement of trading for the GLMR/BTC pair is scheduled for September 25, 2023, at 8:00 UTC.

This announcement has had a considerable impact on the value of GLMR, resulting in a remarkable surge of over 45% in the past 24 hours, with the current trading price hovering around $0.235. Moonbeam Network, designated as the exclusive deposit network for GLMR on Upbit, is an Ethereum-compatible smart contract parachain integrated into the Polkadot ecosystem. Its primary role is to simplify the utilization of popular Ethereum developer tools for creating or transitioning Solidity projects within a Substrate-based environment.

The value proposition offered by Moonbeam extends beyond being a typical Ethereum Virtual Machine (EVM) implementation. Moonbeam also operates as a specialized parachain that mirrors Ethereum’s Web3 RPC, providing support for various features, including accounts, keys, subscriptions, logs, and more. Furthermore, the Moonbeam platform enhances the core capabilities of Ethereum with on-chain governance, staking, and seamless integration with other blockchains.

Moonbeam plays a pivotal role within the Polkadot ecosystem by facilitating integration and connectivity between Polkadot parachains and other prominent blockchain networks, such as Ethereum and Bitcoin, through a range of bridges. Upbit’s decision to list GLMR on its platform is poised to significantly enhance both the accessibility and liquidity of GLMR in the cryptocurrency market.