While Axie Infinity’s AXS token captured the gaming narrative in the 2021 crypto bull run with a staggering $44 billion market cap, a new challenger has emerged that could usurp AXS in the next cycle – BEAM coin.
With a current price of $0.022 following a 354% price pump since its launch in late November, BEAM coin now boasts a market cap of around $1 billion. This already surpasses AXS’ $944 million market cap, demonstrating the rapid growth and potential of BEAM.
Considering AXS achieved a $44 billion valuation at the peak of last year’s bull hysteria, and the expectation that the gaming narrative could be even more explosive in the 2024/2025 bull run, BEAM has monstrous upside from its current position.
Source: CoinStats – Start using it today
Crypto veteran Alex Becker is highly bullish on BEAM’s prospects, stating:
“Oh Beam. Thy won’t stopeth thy thick gains even once thou big dumb orange coin dippeth so… That said few things about Beam A) I told you about Merit/Beam at the X..(Toots horn) B) More important : If we go true bull, there’s no reason this can’t get to at least half of last bull AVAX level market caps. At all. That’s a 15x from here FYI. This is again still bag packing for the real thing. Enjoy kino-sabi.”
Becker estimates BEAM could reach at least half of AVAX’s market cap last cycle, which would be a 15x gain from today’s levels.
So what exactly is BEAM and why is it poised to capture the gaming industry?
BEAM is the native token of the Beam gaming network, an ecosystem facilitated by the Merit Circle DAO where gamers and developers unite to mold the future of gaming. The network runs on the BEAM token, which powers transactions, pays gas fees, and enables holders to participate in the governance of the DAO.
The Beam SDK allows game creators to easily integrate blockchain components like NFTs and token economies into their games. This makes it easy for crypto to permeate gaming, and could see BEAM become the de facto token used throughout blockchain gaming.
Doge2014 raises 500K in days celebrating Dogecoin. Make potentially big profits and get in on exclusive airdrop!
Show more +With gaming projected to be one of the most fervent sectors for crypto adoption and development in the coming years, BEAM has an opportunity to become the chain that powers this evolution through its robust technological infrastructure and community participation.
Some cooling off could be expected in the near-term, however, as BEAM’s daily RSI hovers around 88. This signals the asset is heavily overbought after its parabolic surge this past month. Once the technical correction plays out, the next leg up could propel BEAM coin to new highs.
In an industry prone to hype cycles like crypto, the gaming category looks poised to reach full-blown mania come the next bull run. And BEAM has positioned itself perfectly to ride this wave as the native chain bridging gaming to the blockchain multiverse.
You may also be interested in:
- Binance Coin Forming a Head-And-Shoulders Pattern, Analyst Says a Close Above The Neckline Could Propel BNB To This Level
- Prominent Crypto Trader Shares Bullish Outlook on Bitcoin (BTC), Ethereum, and This ETH Alternative
- Top 3 Cryptos Set to Dominate 2024: Solana, Rebel Satoshi, and XRP
We recommend eToro
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
