43% Surge in Beam’s Stock Price Today
In the past 24 hours, the cryptocurrency Beam, which is powered by Merit Circle DAO, has experienced a remarkable growth of 43.8% according to CoinMarketCap data.
Despite Beam’s X account being suspended, the official account of Merit Circle DAO shared an update in January that sparked positive sentiment. The update, originally tweeted on December 28 and reshared on January 3, revealed that the Beam subnet on Avalanche has produced 768,254 blocks, facilitated over 1 million transactions, and attracted 362,435 addresses since its launch three months ago. The update also highlighted various games built on the platform, including Age of Battles.
The surge in positive sentiment may also be attributed to the increasing mentions of “buy the dip” on social media, which have reached an all-time high since March. This surge follows a negative review from Matrixport regarding the approval of Bitcoin ETFs, which had previously exerted downward pressure on the world’s largest cryptocurrency.
Beam (BEAM) utilizes the BEAM token as its native cryptocurrency within its gaming ecosystem. Developers can use the Beam SDK to create in-game blockchain elements, fostering collaboration between gamers and developers.
During this period, BEAM has experienced significant rallies, reaching new all-time highs. However, the asset has encountered occasional resistance, with the first major hurdle appearing at the $0.00876 price level. Currently, Beam’s price is hovering near this resistance level, which may lead to selling pressures in the near future.
As of now, BEAM is trading at $0.02287 with a market cap of $1,116,557,867, representing an impressive price surge of 90.4% in the last 30 days.
For more information, you can read about the potential price volatility of BEAM as detailed by an analyst.
Don’t forget to follow us on Google News for more updates.
