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Cryptocurrency Knowledge Center

GLMR Coin

GLMR coin is a Polkadot-based smart contract platform that is compatible with Ethereum and allows developers to use the Solidity language and Web3 tools to create or deploy decentralized applications (DApps) in the Substrate environment. GLMR coin is the native token of the Moonbeam network and is used for governance, paying transaction fees, obtaining staking and liquidity mining rewards, and achieving cross-chain integration.

History of GLMR Coin

Creation of GLMR Coin: GLMR Coin is the native token of the Moonbeam network. Moonbeam is a smart contract platform based on Polkadot. It is compatible with Ethereum and allows developers to use Solidity language and Web3 tools to create or deploy DApps in the Substrate environment. Moonbeam was founded in 2019 by Derek Yoo, CEO of PureStake.

The total supply of GLMR coins is 1,071 million,865 coins, of which 648,551,389 coins are already in circulation. The issuance of GLMR coins took place through a private community event called Take Flight, which issued 100 million GLMR coins (10% of the total supply). The GLMR coin has no maximum supply as it creates new tokens through an annual inflation rate of 2% to pay stakers and node operators rewards.

Purpose of GLMR Coin

Functions of GLMR Coin: GLMR Coin is the utility and governance token of the Moonbeam network. Users can use GLMR Coin to participate in Moonbeam’s governance decisions, pay transaction fees, obtain rewards by providing liquidity and staking, and achieve cross-chain integration. GLMR coins can also be connected and value transferred through bridges with other chains such as Ethereum and Bitcoin.

GLMR Coin Price

The GLMR coin was first listed on CoinMarketCap on December 1, 2021, at a price of $0.23. As of June 12, 2023, the price of GLMR coin was US$0.26, the 24-hour trading volume was US$2.28 million, and the market capitalization was US$168 million, ranking 181st on CoinGecko. The historical high price of GLMR coin is US$19.5, reached on January 11, 2022, and the historical low price is US$0.26, reached on June 6, 2023.

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