Here's My Top Cryptocurrency to Buy in December

<div> The crypto sector has firmed up in latest weeks after an inflation-powered free fall in 2022 and <a target="_blank" href="https://www.fool.com/investing/2022/11/21/crypto-keeps-falling-ftx-fallout-will-it-recover/" rel="noopener">the sudden FTX meltdown</a> in November. Cryptocurrency costs have evaporated in virtually each nook of the market. Crypto buyers are licking their wounds, however there is a clear upside to this painful market illness. A few of the finest cryptocurrencies at the moment are on fireplace sale, even when there's nothing flawed with their particular working fashions. Particularly, I am thrilled to see the Glimmer (<a target="_blank" class="ticker-symbol" href="https://news.google.com/quote/crypto/glmr/" rel="noopener">GLMR</a> -1.77%) token buying and selling at a tiny fraction of its launch-date value. <h2>What's Moonbeam?</h2> This can be a pretty obscure token, however the title ought to ring a bell in case you take note of <a target="_blank" href="https://www.fool.com/investing/stock-market/market-sectors/financials/cryptocurrency-stocks/web3/" rel="noopener">the Web3 content ecosystem</a>. The Glimmer token serves a extremely specialised function in that simmering revolution, a few layers away from the headline-writing crypto names. Technically, Glimmer is a utility token on the Moonbeam growth community. In flip, Moonbeam is a so-called parachain of the Polkadot (<a target="_blank" class="ticker-symbol" href="https://news.google.com/quote/crypto/dot/" rel="noopener">DOT</a> -0.29%) ecosystem. <a target="_blank" href="https://www.fool.com/investing/stock-market/market-sectors/financials/cryptocurrency-stocks/polkadot/" rel="noopener">Polkadot</a> is a growth system that lets programmers faucet into the ultra-specialized features of many various blockchains. It is also the official blockchain community of the Web3 mission. Moonbeam offers some key items of that puzzle, together with full compatibility with the industry-standard Ethereum (<a target="_blank" class="ticker-symbol" href="https://news.google.com/quote/crypto/eth/" rel="noopener">ETH</a> 0.05%) platform. Glimmer is the token that does all of the work within the Moonbeam community. Glimmer is straightforward to overlook from a fowl's-eye view. In truth, some buyers comprehend it because the Moonbeam token as an alternative, much like how the ETH token is confused with the Ethereum community it serves and the way the DOT token has taken on the Polkadot title. It is one microscopic thread of a a lot bigger quilt, solely made extra invisible by the name-based confusion. Nevertheless, it is a highly effective and necessary part of a massively bold know-how platform. With out Glimmer and Moonbeam, Polkadot would lose a lot of its energy and the Web3 sea change would grind to a halt.

<h2>How far has this token fallen in 2022?</h2> Glimmer's value topped out at $29.84 per token on Jan. 11, 200 -- its first day in the marketplace. Presently buying and selling at $0.42 per token, it has misplaced 98.6% of that early spike's market worth. Slicing the market-launch jitters out of the equation, it is down by a extra modest 68% over the past six months. Polkadot is down by 41% over the identical interval, whereas Bitcoin posted a 44% value drop. The cryptocurrency correction was a minimum of partly because of the ongoing inflation disaster, which scared away many buyers from higher-risk concepts. However crypto took a a lot more durable hit than the inventory market -- the S&P 500 index solely misplaced 3% of its worth within the final six months. <h2>Will Glimmer rebound from this trough?</h2> I am unable to say for positive that Glimmer will get better from this value drop and soar within the long-term future. There are not any "positive issues" in investing, particularly not within the risky and quickly evolving cryptocurrency sector. That is as true for Moonbeam and Glimmer as for every other crypto title. One other community with a special token may take over Moonbeam's cross-network growth perform in <a target="_blank" href="https://www.fool.com/investing/stock-market/market-sectors/financials/blockchain-stocks/blockchain-ecosystem/" rel="noopener">the Polkadot ecosystem</a>. Polkadot itself may very well be changed by a special resolution for managing the Web3 community structure. Web3 may fail to take off in any respect, leaving the present kings of social networking and ad-based income streams on the throne. Any of those occasions, or some mixture of them, could be dangerous information for Glimmer and its token holders. <div class="image"><img alt="A golden moon shines its light over a quiet lake." loading="lazy" src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F711901%2Fgolden-moon-over-water.jpg&op=resize&w=700" srcset="https://g.foolcdn.com/image/?url=https%3A//g.foolcdn.com/editorial/images/711901/golden-moon-over-water.jpg&w=300&op=resize 300w, https://g.foolcdn.com/image/?url=https%3A//g.foolcdn.com/editorial/images/711901/golden-moon-over-water.jpg&w=1000&op=resize 1000w, https://g.foolcdn.com/image/?url=https%3A//g.foolcdn.com/editorial/images/711901/golden-moon-over-water.jpg&w=2000&op=resize 2000w"/> Picture supply: Getty Photos. </div> Nevertheless, I consider that Web3 is a smart successor to the present on-line expertise. Polkadot was designed explicitly to assist that mission, and Moonbeam was one of many first Polkadot parachains, exactly as a result of it is important to the long-term well being of this platform. Subsequently, I see a brilliant future for Moonbeam. I count on the Glimmer token to turn into closely concerned within the subsequent era of financial-technology platforms, on-line video games, internet-based communications, and extra. That is the stuff that long-term worth is constructed on within the cryptocurrency world. Significant worth is created when builders and customers embrace a selected blockchain community and put the associated tokens into heavy rotation. Lengthy story brief, I count on Glimmer's market worth to develop into billions of {dollars} over time. The absolutely diluted market cap presently stands at a measly $436 million. However once more, this is not a 100% assure, and also you should not wager the farm on this token -- or on every other single coin, inventory, bond, or token. The dangers I acknowledged earlier are actual, and <a target="_blank" href="https://www.fool.com/investing/stock-market/market-sectors/financials/cryptocurrency-stocks/risks-of-cryptocurrency/" rel="noopener">that's an incomplete list</a>. However Glimmer appears ripe for a modest nibble at immediately's deeply discounted value. I am unable to wait to see this blockchain community develop up.

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