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South Korea’s largest cryptocurrency exchange, Upbit, recently announced the listing of Beam (BEAM), leading to a significant increase in trading volumes. This announcement has had a profound impact on the market, sparking considerable interest among investors and traders alike.
The listing on Upbit, known for its large user base and extensive market reach, has provided <a rel="noopener noreferrer nofollow" href="https://www.coincarp.com/currencies/beam/news/" target="_blank">BEAM</a> with heightened visibility and accessibility. As a result, the demand for BEAM surged, driving its price up by as much as 25%. The exchange’s decision to include BEAM reflects growing confidence in the asset’s potential and marks a pivotal moment in its market trajectory.
<h2 id="beam-beam-price-jumps-25">Beam (BEAM) Price Jumps 25%</h2>
The impact of the <a href="https://coingape.com/tag/upbit/" target="_blank" rel="noopener noreferrer nofollow">Upbit</a> listing on Beam’s market performance has been remarkable. Shortly after the announcement, Beam’s native cryptocurrency saw a staggering 26% increase. At the time of reporting, BEAM is trading 21.65% higher at $0.331, boasting a market capitalization of $1.6 Million. Over the past seven days, BEAM’s price has risen by an impressive 25.06%. The trading time for Beam on Upbit opens at 18:00 – 19:00 KST on May 31. The <a rel="noopener noreferrer nofollow" href="https://www.coinglass.com/currencies/BEAM" target="_blank">open interest</a> of BEAM has surged over 40% with a valuation of $30 Million and the RSI (Relative Strength Index) is at the 71.99 level signaling bullish presence.
<img decoding="async" class="aligncenter size-full wp-image-199825" src="https://coingape.com/wp-content/uploads/2024/05/Screenshot-697.png" alt="" width="1366" height="768" srcset="https://coingape.com/wp-content/uploads/2024/05/Screenshot-697.png 1366w, https://coingape.com/wp-content/uploads/2024/05/Screenshot-697-300x169.png 300w, https://coingape.com/wp-content/uploads/2024/05/Screenshot-697-1224x688.png 1224w, https://coingape.com/wp-content/uploads/2024/05/Screenshot-697-768x432.png 768w, https://coingape.com/wp-content/uploads/2024/05/Screenshot-697-678x381.png 678w, https://coingape.com/wp-content/uploads/2024/05/Screenshot-697-150x84.png 150w" sizes="(max-width: 1366px) 100vw, 1366px">
Upbit’s decision to list BEAM in multiple trading pairs against Korean Won (KRW), <a href="https://coingape.com/price/bitcoin" target="_blank" rel="noopener noreferrer nofollow">Bitcoin (BTC)</a>, and Tether (USDT) has played a crucial role in this price surge. This diversification has not only enhanced BEAM’s liquidity but also attracted a broader spectrum of investors, further solidifying its position in the market. The robust trading activity following the listing underscores the strong investor confidence and the positive market sentiment surrounding BEAM.
Also Read: <a href="https://coingape.com/lawmakers-call-on-biden-to-reconsider-veto-of-sab-121-repeal/" target="_blank" rel="noopener noreferrer nofollow">Lawmakers Call on Biden to Reconsider Veto of SAB 121 Repeal</a>
<h2 id="understanding-the-beam-token-and-beam-network">Understanding the $BEAM Token and Beam Network</h2>
The $BEAM token serves as the cornerstone of the Beam network, an innovative gaming ecosystem powered by the Merit Circle DAO. Beam is designed to foster a collaborative environment where gamers and developers can jointly shape the future of the gaming industry. Central to this ecosystem is the Beam SDK, a versatile software development kit that offers game developers a range of tools to integrate <a href="https://coingape.com/glossary/blockchain/" target="_blank" rel="noopener noreferrer nofollow">blockchain</a> technology into their games seamlessly.
The $BEAM token is vital for interactions within the Beam network, serving as the primary currency for transactions. This includes not only the transfer of assets but also interactions with smart contracts, which are essential for creating a seamless and immersive gaming experience. By enabling these functionalities, the $BEAM token adds significant value to the ecosystem, enhancing the utility and appeal of the Beam network. The recent listing on Upbit and the subsequent price surge highlight the growing recognition of BEAM’s potential in revolutionizing the gaming industry.
Also Read: <a href="https://coingape.com/crypto-prices-today-may-31-bitcoin-tops-68-5k-eth-below-3800-not-pumps-non-stop/" target="_blank" rel="noopener noreferrer nofollow">Crypto Prices Today May 31: Bitcoin Tops $68.5K, ETH Below $3,800 While NOT Pumps Non-Stop</a>
The post <a href="https://coingape.com/beam-price-jumps-25-amid-major-listing-announcement/" rel="noopener noreferrer nofollow">Beam Price Jumps 25% Amid Major Listing Announcement</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Beam Price Jumps 25% Amid Major Listing Announcement

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