What is the highest and lowest price in history of Moonbeam(GLMR) currency?

Despite a 94% plunge from its ATH, Moonbeam (GLMR) has recently demonstrated resilience, surging by over 60% in the past month amidst the broader crypto market's recovery.

Dec 01, 2024 at 08:32 am

What is the Highest and Lowest Price in History of Moonbeam(GLMR) Currency?

Moonbeam is a decentralized smart contract platform that allows developers to build and deploy scalable decentralized applications (dApps) on the Polkadot blockchain. It combines the benefits of both Ethereum and Polkadot, providing a highly interoperable and secure platform for dApp development. The native token of Moonbeam is GLMR, which serves as a means of payment for transaction fees and staking purposes. Tracking the historical price performance of GLMR can provide valuable insights for investors and traders alike.

All-Time High (ATH)

The all-time high price of GLMR was recorded on January 19, 2022, when it reached $43.16. This significant milestone came during a period of heightened interest and speculation surrounding the Polkadot ecosystem and the broader cryptocurrency market. Factors contributing to the price surge included the growing popularity of DeFi applications on Moonbeam, the launch of new partnerships and integrations, and the overall positive sentiment towards the blockchain industry.

Factors Influencing the ATH

The factors that contributed to the ATH of GLMR can be summarized as follows:

• Bullish market sentiment: The broader cryptocurrency market was experiencing a surge in optimism and positive sentiment, with many cryptocurrencies reaching new heights.
• Increased dApp adoption: Moonbeam's growing adoption among dApp developers attracted investor interest and fueled demand for GLMR.
• Positive ecosystem developments: The announcement of strategic partnerships and the launch of new features on the Moonbeam platform further boosted investor confidence.
• Tokenomics and staking rewards: The tokenomics of GLMR, including its limited supply and attractive staking rewards, incentivized long-term holding and contributed to its price appreciation.

All-Time Low (ATL)

In contrast to the ATH, the all-time low (ATL) price of GLMR was $1.60, recorded on March 12, 2020, shortly after the platform's launch. This low point coincided with a broader market downturn and fears surrounding the impact of the COVID-19 pandemic.

Factors Influencing the ATL

The factors that contributed to the ATL of GLMR can be summarized as follows:

• Bearish market trend: The cryptocurrency market as a whole was experiencing a downtrend, leading to a decline in the prices of many cryptocurrencies.
• Low liquidity and market awareness: As a newly launched project, Moonbeam struggled to gain widespread adoption and attention, resulting in low trading volume and liquidity.
• Initial price volatility: The early price of GLMR was highly volatile, as the market adjusted to the new token and its supply and demand dynamics.
• Lack of established use cases: At the time of its launch, Moonbeam had yet to establish a significant number of live dApps and use cases, which limited its potential demand.