Beam price experiences a 25% surge after listing on Upbit, South Korea‘s largest cryptocurrency exchange.
Recent news from Upbit, the largest cryptocurrency exchange in South Korea, regarding the listing of Beam (BEAM) has caused a substantial increase in trading volumes. This announcement has significantly influenced the market, which has generated considerable interest among traders and investors.
BEAM has gained increased exposure and ease of access by being listed on Upbit, a platform renowned for its substantial user community and wide-ranging market penetration.
Consequently, the price of BEAM increased by as much as 25% due to the surge in demand. The inclusion of BEAM by the exchange signifies an increasing level of assurance in the asset’s potential and represents a critical juncture in its market course.
Beam (BEAM) Cost Increases by 25%
The Upbit listing has had a significant effect on Beam’s market performance. Following the announcement, Beam’s native cryptocurrency experienced an extraordinary surge of 26% in value.
BEAM is trading 21.65% higher at $0.331, with a market capitalization of $1.6 million as of this report. In the preceding week, the price of BEAM has increased by a noteworthy 25.06%.
Beam is available for trading on Upbit from 18:00 to 19:00 KST on May 31. With a current valuation of $30 million, open interest in BEAM has increased by more than 40%, and the RSI (Relative Strength Index) is at 71.99, indicating a favorable presence.
This price increase has been significantly influenced by Upbit’s decision to list BEAM in multiple trading pairings against the Korean Won (KRW), Bitcoin (BTC), and Tether (USDT).
The process of diversification has not only increased the liquidity of BEAM but has also garnered the interest of a more extensive range of investors, thereby strengthening its market position.
The high level of trading activity after BEAM was listed is evidence of the optimistic market sentiment and investor confidence that the company has garnered.
Beam Network and $BEAM Token Comprehension
The Beam network, an innovative gaming ecosystem fueled by the Merit Circle DAO, is built upon the $BEAM token. The purpose of Beam is to cultivate a cooperative atmosphere in which developers and consumers can collectively influence the trajectory of the gaming sector.
At the core of this ecosystem resides the Beam Software Development Kit (SDK), an adaptable collection of tools that empowers game developers to incorporate blockchain technology into their games seamlessly.
As the principal medium of exchange for transactions on the Beam network, the $BEAM token is indispensable for all network communications. These activities encompass not solely the exchange of resources but also engagements with intelligent contracts, which are essential for establishing a cohesive and engaging gaming encounter.
Through the activation of these features, the $BEAM token substantially augments the ecosystem’s worth, thereby bolstering the practicality and desirability of the Beam network.
The rising price of BEAM and its recent listing on Upbit demonstrates the increasing awareness of its revolutionary potential within the gaming industry.
