Moonbeam Price Prediction 2024: Will GLMR Shine On?
What's next for Moonbeam?
Key Takeaways
- Moonbeam’s GLMR sank to an all-time low of $0.07229 in October last year.
- The token has dropped since the start of 2024 but jumped in mid-March.
- Can GLMR continue its recovery?
- One Moonbeam price prediction says it can get to $2.38 in 2025.
Moonbeam’s GLMR token went through a tough time in 2023. The crypto fell to an all-time low in late October. Although it has made a recovery – climbing more than 60% in less than a week – it is still not performing well.
Investors will be hoping that GLMR being available in the Hydra liquidity pool system can help boost its price.
On March 12, 2024, Moonbeam was worth about $0.4235.
Moonbeam did not immediately respond to a request for comment.
But what is Moonbeam (GLMR)? How does Moonbeam work? Let’s see what we can find out, and also take a look at some of the Moonbeam Price Predictions that were being made as of March 12, 2024.
Moonbeam Price Prediction
Let’s examine some of the Moonbeam price predictions being made on March 12. It is crucial to bear in mind that price forecasts, particularly for a potentially volatile asset like cryptocurrency, often turn out to be inaccurate. Additionally, please remember that many long-term crypto price predictions are generated using algorithms, which means they can change at any time.
| 2024 | 2025 | 2030 | |
|---|---|---|---|
| Prediction #1 | $1.39 | $1.61 | $4.75 |
| Prediction #2 | $1.76 | $2.38 | $5.52 |
| Prediction #3 | $0.7733 | $1.13 | $7.83 |
First, CoinCodex had a short-term Moonbeam price prediction which suggested the token would fall to $0.844678 by March 17 before recovering to $2.11 by April 11. The site’s technical analysis was bullish, with 24 indicators making upbeat predictions and three making bearish ones.
Moonbeam Price Prediction for 2024
DigitalCoinPrice said GLMR would drop to $1.39 this year while Bitnation thought it could trade at $1.76. PricePrediction.net thought Moonbeam would get to $0.7733 in 2024.
Moonbeam Price Prediction for 2025
DigitalCoinPrice argued that Moonbeam would stand at $1.61 next year. Bitnation set a price target of $2.38 for then. PricePrediction claimed that GLRM would be worth $1.13 in 2025.
Moonbeam Price Prediction for 2030
Moving on to a more long-term Moonbeam price prediction, DigitalCoinPrice said it would reach $4.75 in 2030. Bitnation thought the token would be worth $5.52 that year. PricePrediction.net’s GLMR price prediction had it trade at $7.83 at the start of the next decade.
Google Gemini AI Price Prediction for Moonbeam (as of March 12)
Google’s Gemini AI platform gave the following price prediction for Moonbeam on March 12. Please remember that the exact price prediction of an asset or cryptocurrency in the future is nearly impossible to achieve. Additionally, artificial intelligence price predictions are predicated on past performances and are in no way entirely accurate.
Short Term (Next 3 months):
- Expected price: $1.38
- Reasons:
- Overall Market Trends: The general sentiment of the cryptocurrency market can significantly affect the price of individual coins like GLMR.
- Developments on the Moonbeam Platform: News or announcements about new features, partnerships, or integrations on the Moonbeam platform could drive the price up.
- Regulations: Regulatory changes from governments around the world can impact the cryptocurrency market as a whole.
Medium Term (Next 6 months):
- Expected price: $1.70
- Reasons:
- Market Sentiment: Generally positive sentiment can drive prices up, while fear can lead to selloffs. The Fear and Greed Index currently indicates “Extreme Greed” which might suggest a potential correction.
- Overall Crypto Market Trends: The price of Moonbeam can be influenced by the performance of Bitcoin and the overall cryptocurrency market.
- Moonbeam-Specific Developments: News, partnerships, and adoption of the Moonbeam platform can impact its price.
Long Term (Next 5 years):
- Expected price: $4.19
- Reasons:
- Adoption and Use Cases: Increased adoption of Moonbeam by developers and users could drive the price up. Predictions don’t factor in potential crashes or sudden booms.
- Overall Crypto Market Performance: The general performance of the cryptocurrency market can significantly impact GLMR’s price.
- Developments on the Moonbeam Platform: New features, partnerships, and integrations on the Moonbeam network could influence its value.
Recent Updates from Moonbeam
Moonbeam launched a new game, Stars Arena.
GLMR Price History
Now, let’s examine the Moonbeam price history . While we should never take past performance as an indicator of future results, knowing what the token has achieved can provide us with some very useful context if we want to make or interpret a Moonbeam price prediction.
Moonbeam first came onto the open market in January 2022. On January 11, it was worth $11. It then spiked dramatically, reaching an all-time high of $29.84. Just as quickly and dramatically, the price fell down, and it closed the day at $11.91.
The price sank down over the coming weeks as traders felt GLMR was initially overvalued. It traded above $1 until early June. The aftermath of the Terra (LUNA) blockchain’s collapsed drove it down and it has been worth less than the dollar ever since. Any hopes of a recovery were wiped out in November, when the FTX (FTT) exchange declared bankruptcy. GLMR closed the year at $0.3299.
Moonbeam in 2023 and 2024
If 2022 was a disappointment for Moonbeam’s investors, 2023 was, at some points, even worse. Things started well enough, with a buoyant market seeing it trade above $0.50 in late February. However, things fell down. When the United States Securities and Exchange Commission (SEC) sued the Binance and Coinbase exchanges in early June, the market dropped. As a result, GLMR fell to $0.2093.
There was something of a recovery after this and, on June 23, GLMR bounced back to $0.2914. Another decline followed, exacerbated by Elon Musk’s SpaceX selling millions of dollars worth of Bitcoin (BTC) in August. On September 22, Moonbeam sank to an all-time low of $0.1606. By the end of the year, it had made something of a recovery and was worth $0.4467. While this meant it had risen 35% in 2023, it had underperformed against a crypto market which more than doubled over the course of the year.
Things got a little worse in the new year and, on February 23, 2024, it was worth about $0.4235. It then jumped the following month, reaching $0.6283 on March 12, 2024.
At that time, there were about 845.0 million GLMR in circulation, out of a total supply of 1.11 billion. This gave the token a market cap of around $532 million, making it the 160th largest crypto by that metric.
Moonbeam Price Analysis
The price of GLMR declined until it reached $0.16 on September 21, 2023. After that, it made a recovery that led to a breakout above the descending resistance, and after one more retest of the $0.16 level in October, GLMR shot upwards.
On March 11, it reached a high of $0.72, increasing by 350% from its all-time low. This was likely its final wave of a five-wave pattern that started in September. If this is the start of a new bull cycle for Moonbeam’s price, we have seen its first sub-wave.
We should see a first bull market correction, establishing a higher price plateau. There could be some short-term movement to the $0.80 area. However, on the downturn, GLMR should find support at $0.31.
Is Moonbeam a Good Investment?
It is hard to say right now. The token has bounced back pretty well from a recent all-time low, but can do better. What sort of impact the Hydra link will have remains to be seen. A lot will depend on how the market as a whole performs.
As ever with crypto, you will need to make sure you do your own research before deciding whether or not to invest in GLMR.
Will Moonbeam go up or down?
No one can really tell right now. While the Moonbeam crypto price predictions are largely positive, price predictions have a well-earned reputation for being wrong. Keep in mind, too, that prices can, and do, go down as well as up.
Should I invest in Moonbeam?
Before you decide whether or not to invest in Moonbeam, you will have to do your own research, not only on GLMR, but on other coins and tokens such as Chainlink (LINK). Either way, you will also need to make sure that you never invest more money than you can afford to lose.
Who is the Founder of Moonbeam?
Derek Yoo is the CEO of PureStake, the company building Moonbeam. Prior to PureStake, Derek was the co-founder and CTO of Fuze, where he led the product and engineering teams in the creation of a global Unified Communications-as-a-Service cloud platform with points of presence all around the world.
Fact Box
| Supply and Distribution | Figures |
|---|---|
| Total supply | 1,109,587,662 |
| Circulating supply (as of March 12, 2024) | 846,980,028 (75% of total supply) |
From the Whitepaper
In its technical documentation, or whitepaper , Moonbeam says it combines the best of both worlds: the familiar and easy-to-use tooling of Ethereum and the scalable, interoperable architecture of Polkadot.
Moonbeam (GLMR) Explained
Moonbeam is a platform dedicated to bringing the tools that help people develop decentralized applications (DApps) on the Ethereum (ETH) blockchain onto the Polkadot (DOT) blockchain.
Derek Yoo, a crypto entrepreneur and founder of the PureStake blockchain infrastructure platform, set up Moonbeam in 2021.
The GLMR token supports the Moonbeam network.
How Moonbeam Works
Moonbeam helps developers create and build their own programs that are compatible with Ethereum. This means they can use such features as the Ethereum Virtual Machine – a programme which acts like a massive decentralized computer and helps run the blockchain – and smart contracts, computer programs that automatically execute once certain conditions are met.
The Moonbeam token supports the system. It helps to power smart contracts, helps decentralised apps (DApps) perform, and keeps the system secure. It is pays for transaction fees on the network pays people who run the system’s computers, or nodes. Holders can on proposals relating to the governance of the network. People can also buy, sell, and trade it on exchanges.
Moonbeam Attention Tracker
Here is a chart for the Moonbeam Google search volume for the past 90 days. This represents how many times the term “Moonbeam” has been Googled over the previous 90 days.
FAQs
Will Moonbeam reach $10?
It could do, but not for a long time, if ever. PricePrediction.net says GLMR can reach double figures by 2032.
What is Moonbeam used for?
The GLMR token supports the Moonbeam network. Holders can vote on changes to the platform. People can buy, sell, and trade it on exchanges.
Disclaimer
Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.
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