Coins: 10053 Exchanges: 946 Market Cap: $1,225,562,243,650 1.25% 24h Vol: $48,208,812,807.548 Dominance: BTC 46.65%, ETH 18.33%
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Wrapped Moonbeam price

Wrapped Moonbeam Price (WGLMR)

$0.624851

10.42%
Rank #10839

Wrapped Moonbeam Price Chart (WGLMR/USD)

Last updated 22 Jun 2022, 09:12AM UTC. Currency in USD.

Market Cap
$0
Volume (24h)
$1,323,754
Change
10.42%
Circulating Supply
0
All Time High
$6
Markets
# Exchange Pair Price Spread Volume(24h) Trust

WGLMR Price Statistics

$1
24H Range
$1
  • Wrapped Moonbeam Price Now $1
  • 24h Low / 24h High $1 / $1
  • Trading Volume $1,323,754
  • Market Cap Rank #0
  • Market Cap $0
  • Volume / Market Cap 0.0000
  • All-Time High $6 -89.57%
    Apr 04, 2022
  • All-Time Low $1 8.77%
    Jun 18, 2022
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Wrapped Moonbeam: Unlocking the Power of Interoperability


Introduction


Wrapped Moonbeam (wMOVR) is a revolutionary cryptocurrency that has garnered significant attention in the blockchain and crypto community. By being an Ethereum-compatible version of Moonbeam, it aims to bridge the gap between different blockchain networks and unlock the power of interoperability. This article will delve into the features and potential of Wrapped Moonbeam, highlighting its advantages and the value it brings to the decentralized finance (DeFi) ecosystem.


The Concept of Wrapped Moonbeam


Wrapped Moonbeam functions by "wrapping" the native Moonbeam tokens (MOVR) in the form of ERC-20 tokens on the Ethereum network. This process allows users to seamlessly transfer MOVR between Ethereum and Moonbeam, enabling them to leverage the unique functionalities and opportunities offered by both networks.


Benefits and Use Cases


1. Improved Interoperability: The primary benefit of Wrapped Moonbeam lies in its ability to foster interoperability between Ethereum and Moonbeam. This unlocks a myriad of opportunities for users, developers, and decentralized applications (dApps) operating on both networks. It allows for the seamless movement of assets across chains, facilitating the creation and utilization of innovative cross-chain applications.


2. Access to DeFi Ecosystem: Wrapped Moonbeam provides users on the Moonbeam network with access to Ethereum's thriving DeFi ecosystem. Users can leverage established protocols, such as decentralized exchanges (DEXs), lending platforms, and yield farming initiatives, all while utilizing MOVR as collateral. This integration brings immense growth potential to Moonbeam while allowing Ethereum users to explore new opportunities.


3. Asset Portability: With Wrapped Moonbeam, users can move their MOVR seamlessly between Ethereum and Moonbeam, ensuring asset portability and liquidity across multiple networks. This flexibility enables users to exploit arbitrage opportunities, access various yield farming strategies, or simply diversify their holdings across different platforms.


How to Utilize Wrapped Moonbeam


To utilize Wrapped Moonbeam, users need to follow a few simple steps:


1. Acquiring MOVR: Users can acquire MOVR by either purchasing them directly on exchanges supporting Moonbeam or by swapping other cryptocurrencies for MOVR on decentralized platforms like Uniswap.


2. Wrapping MOVR: Once users have acquired MOVR, they can wrap them into the Ethereum-compatible ERC-20 format using established wrapping services or protocols. This process will create the corresponding wMOVR tokens on the Ethereum network.


3. Utilizing wMOVR: With the MOVR tokens now in the form of wMOVR, users can freely utilize them within the Ethereum ecosystem, be it participating in DeFi activities, trading on DEXs, or engaging with various Ethereum-based dApps.


4. Unwrapping MOVR: Should users decide to move their MOVR back to the Moonbeam network or any other supported network, they can unwrap their wMOVR tokens and convert them back into the native MOVR tokens.


Conclusion


Wrapped Moonbeam represents a pivotal innovation in the pursuit of cross-chain compatibility and interoperability in the cryptocurrency realm. By enabling the smooth transfer of MOVR tokens between Ethereum and Moonbeam, it unlocks limitless possibilities for users and developers. Embracing such interoperable solutions will undoubtedly shape the future of decentralized finance and foster a more connected and efficient blockchain ecosystem.