Long-Term Moonbeam (GLMR) Price Prediction

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Contributor, Benzinga
October 11, 2022

Decided you want in on the action? You can buy GLMR on Pionex and Crypto.com.

One of the largest issues facing the crypto world is its lack of interoperability. The ability of blockchains to interact with each other is an essential part of their practicality. As of right now, most blockchains operate independently of other chains. For example, Bitcoin operates independently of Ethereum, so you cannot trade Ethereum on the Bitcoin network. If cryptocurrency is to become the payment system of the future, this problem will have to be tackled. Moonbeam is hoping to solve this issue by helping developers port their Ethereum programs to the Polkadot network. 

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What is Moonbeam (GLMR)?

Moonbeam’s mission is to enable Ethereum developers to easily port their projects to the Polkadot network. The process allows for a smooth transition of decentralized applications (dApps) from the main Ethereum network to the Polkadot network, which supports over 100 parachains or parallel blockchains. 

Moonbeam is Ethereum Virtual Machine (EVM)-compatible, which means that anyone who knows how to code for Ethereum is already equipped to code on Moonbeam. Additionally, Moonbeam offers a variety of integrations from the Polkadot chain that are extremely helpful for creating new projects.

GLMR is the utility token that powers the chain. Its purpose is twofold — governance and consensus. It is a governance token in that holders can use their tokens to vote on issues such as council members and new projects. For consensus, the token can be staked as part of the proof-of-stake (PoS) consensus mechanism that was adapted from the Polkadot network. 

Moonbeam (GLMR) Market Position

GLMR currently has a market cap of just around $180 million, which is below its all-time high market cap of just over $1 billion in April 2022. The current market cap is far from the previous high, leaving room for growth. It is important to look at market cap as opposed to token price as it can be a more encompassing metric.

Some of its larger competitors are other EVM-compatible chains, such as Polygon and Tron.

Priceprediction.net’s Bullish Long-Term Moonbeam (GLMR) Price Prediction

Priceprediction.net is a popular site for artificial intelligence (AI) crypto price predictions. Its prediction has GLMR appreciating 10% to 20% by the end of 2022, with a price range of $0.50 to $0.60. For the long term, it sees the price going above $10 by 2030. It is also worth noting that it does not see any large price jumps until 2028/2029. 

WalletInvestor’s Bearish Long-Term Moonbeam (GLMR) Price Prediction

WalletInvestor is another AI-based forecasting software that predicts prices for other assets such as forex and stocks. WalletInvestor’s GLMR price prediction is drastic. It predicts the price to depreciate rapidly towards the end of 2022, reaching $0.01 by the end of the year and not increasing much after that. 

Moonbeam (GLMR) Price Predictions for the 2020s

Most crypto prediction tools use AI to make their forecasts. These forecasts take in as much data as possible — past price, supply, chart pattern recognition — and plug it into a complex formula that outputs a price. These forecasts have a small chance of being correct but can give some clues to the general direction an asset may be headed, as well as the range of viable future prices. 

The overall 2020s predictions for GLMR are all over the place, probably because of high volatility and the recency of the token release. Some prediction engines, such as DigitalCoinPrice, see the token having a strong reversal over the next several years and going back to around $10. Others, such as WalletInvestor, predict the token continuing its downward trend and depreciating to less than $0.01. 

2023 Moonbeam (GLMR) Price Prediction

DigitalCoinPrice predicts that Moonbeam will be trading between $1.00 and $1.13 during 2023. Several coin arbitrage bots forecast the token reaching an average price of over $5.50 in 2023. These two predictions are far apart and should be taken with a grain of salt. 

2024 Moonbeam (GLMR) Price Prediction

For 2024, one coin arbitrage bot predicts an average of around $9.20. Priceprediction.net sees the price being somewhere between $1.04 and $1.26. WalletInvestor forecasts the price going to effectively zero during this year.

2025 Moonbeam (GLMR) Price Prediction

DigitalCoinPrice has a price prediction of $1.81 to $2.04 for 2025, while one coin arbitrage bot predicts the price to be nearly $15. The disparity between these two predictions should be indicative of the lack of confidence in the predictions. 

2026 Moonbeam (GLMR) Price Prediction

Priceprediction.net forecasts the price of GLMR to be between $2.09 and $2.52 for 2026. DigitalCoinPrice predicts GLMR to trade between $1.57 and $1.79 in 2026. These distant predictions will probably be pretty far off. 

2027 Moonbeam (GLMR) Price Prediction

AMBCrypto forecasts a price range of $1.84 to $2.21 in 2027, and DigitalCoinPrice predicts a range between $2.23 and $2.44. 

2030 Moonbeam (GLMR) Price Prediction

2030 predictions offer a much wider range, most likely because of the extended period of time between now and then. AMB Crypto predicts the price to be between $3.60 and $4.32, Digital Coin price forecasts $6.49 to $6.64 and Priceprediction.net sets a range of $9.04 to $10.98. 

Where to Buy Moonbeam (GLMR)

Moonbeam is available on a few crypto trading platforms, most notably Pionex and Crypto.com. To get started on these sites, create an account with an email or phone number. You can then verify your account with some basic personal information and fund it with a bank account. This process usually takes about three to five business days to complete. Once you have a verified and funded account, you are ready to begin trading. 

How Long Will It Take for Moonbeam (GLMR) to Reach $10?

Moonbeam was initially listed in January 2022 and traded at around $15 at the time of release. The price quickly fell thereafter to $5 in April 2022 and finally settled around its current price of $0.50. Even the most bullish supports of Moonbeam would be silly to give a short term GLMR price prediction of $10.

While many see a new all-time high as a very unlikely event, a $5 price target is not out of the realm of possibility. While this is still a 10 times increase, a large spike in demand could send the price soaring, something people have seen many times with past cryptocurrencies. 

Where to Store Moonbeam (GLMR) Safely

While it is perhaps easiest to store your crypto on a trading platform, it can be vulnerable to cyber-attacks and does not allow users much discretion over their tokens. Wallets give users full control over their tokens and can be safer than holding them on an exchange.

Best Hardware Wallet: Ledger 

Ledger is a leading brand of hardware wallet. Hardware wallets are physical devices that store the keys needed to send crypto and are considered the safest way to store crypto.

Ledger offers Nano S and Nano X models. The Nano S is the basic hardware wallet offering, with just the necessary features. The Nano X supports ease of use, with Bluetooth connectivity and a larger screen. 

Best Software Wallet: MetaMask

Software wallets store private keys online and are password-protected, which is not as safe as a hardware wallet but is still safe. MetaMask is the leading software wallet and offers compatibility with a large number of blockchains. It is also easily usable, as it is a Google Chrome extension.

Bonus Section: Keep an eye out for new features released by Moonbeam, which have sparked price increases in the past. 

Current Crypto Prices

After the Ethereum Merge in September 2022, the crypto markets have been a bit irregular, with some tokens appreciating quickly and others losing large percentages of their value.

If you want to see the price of your favorite tokens, make sure to check out Benzinga’s up-to-date crypto price tracker.

So, Is Moonbeam (GLMR) a Good Investment?

Moonbeam is hoping to provide a valuable service to the crypto community. However, the future price is largely dependent on the demand for interoperability and the success of its competitors. If you are bullish on the demand for interoperability and expect Moonbeam to outperform competitors, then it may be a good investment.

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About Caden Pok

Caden has been involved with cryptocurrency for several years, began trading and investing in crypto in 2018 and is highly experienced with DeFi technology. He took part in undergraduate research studying cryptoeconomics and is a member of Wolverine Blockchain, a group designed to educate students on cryptocurrencies and blockchain technology. Currently, he mines multiple coins and holds positions in Cardano and Ethereum.