BEAM crypto witnessed a massive price hike shortly after being listed on the Upbit Exchange. What might have caused this huge price hike? Is it the Upbit listing? Or is there any other reason? What percentage of price hikes did the crypto have?
We have the answers to all your questions in this news piece.
Why is Beam’s price skyrocketing?
Upbit is the largest cryptocurrency exchange in South Korea. Recently, it announced a BEAM listing. This resulted in a 25% price surge in Beam. Overall, the price of Beam has hiked by 26%, and as of the latest resorts it trades at around 0.331 US dollars.
This has led the market cap to be 1.65 billion US dollars. The trading volume of the cryptocurrency also faced a price hike.
When Upbit announced its Beam listing, this was spread among the crypto companies. It attracted the attention of more investors and led to more people buying the crypto. With the increase in the demand for crypto, its value also went high.
How did the Upbit listing influence the BEAM price hike?
It is definitely the Upbit listing that has influenced the current 25% hike of Beam. Let us see what the listing had to do with the price hike. Upbit, being the largest crypto exchange in South Korea and one of the prominent exchanges in the world, accepting Beam listing is indeed a huge news of the crypto. When this topped the headlines, Beam received more visibility in the market.
Those who had heard about Beam started to consider investing in it. Also, the presence of this particular cryptocurrency reached the ears of more people. BEAM is actually the native token of the Beam ecosystem.
Many more people started to search what the Beam ecosystem was and when they got to know about it, they found it interesting.
Thus, the crypto enthusiasts, when they chose to be a part of this ecosystem, chose to buy its utility token.
Also, its Upbit listing boosted the confidence of many as the event suggested the upcoming future of crypto. As of the latest forecast, BEAM is forecasted to have a bright future. It has also demonstrated the potential to surge in value in the coming days.
What is Beam (BEAM)?
Beam can be defined as a confidential DeFi platform that acts to improve the privacy of the users in the crypto realm. Beam functions by combining two blockchain protocols.
The two combined protocols are as follows, Mimblewimble and LelantusMW. The combination of these two protocols serves to increase the anonymity of the user identities, transactions, and address balances.
Typically, Beam crypto is used to enable Bulletproofs, Confidential Transactions, and Dandelion++ for scalability and privacy. It is also used for research in these areas. It was on January 3, 2019, that the mainnet of Beam went live. Now let us move forward to read about the BEAM token.
BEAM Token
Beam was launched without any ICOs or premine. It follows the concept of deflationary emission. Beam started with 100 BEAM per block and halving events taking place on a periodic basis.
The total supply of BEAM is capped at 262,800,000 BEAM. The BEAM Treasury gets 20% of block emissions.
36% of the supply goes to liquidity mining, with 7% going onwards to the ecosystem partners, 17% to the foundation, and 20% to the investors.
Beam provides uncompromised privacy to all users. All asset transactions are guaranteed to have steady and maximum anonymity.
Privacy in Beam is the default setting and you don’t have to opt out from the settings. You get a 64k anonymity set.
You can use your wallet to create, transact, trade, and bridge assets on Beam’s blockchain. All the asset transactions that you make on Beam’s blockchain are completely indistinguishable.
Also, Read: Beam (BEAM) Price Prediction 2024 – 2030
Where to buy BEAM?
You can buy BEAM crypto from the exchanges:
- MEXC
- Uniswap
- Gate.io
- Bitforex
- CoinEx
- NonKYC
- Tradeogre
Other than these exchanges, the crypto can also be bought for instant exchanges such as Beam4me and Trocador.
Final Thoughts
Currently, it seems that it is the right time to invest in crypto. Beam has a bright future and the prices are predicted to go high. However, you should do your own research before you make any investments in this crypto.
