BEAM coin has seen its price surge over 25% today to around $0.026, nearing its all-time high. With a current market capitalization of $1.3 billion, BEAM has entered the top 55 cryptocurrencies globally.
This impressive price movement seems driven by fundamental strengths rather than any new announcements. So what is behind the project’s robust foundations?
BEAM is the native token of an ecosystem focused on bringing blockchain technology to gaming. The Beam network facilitates cooperation between gamers and developers to shape the future of the industry.
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Show more +Central to this is the Beam SDK – a flexible software development kit enabling creators to integrate modular in-game blockchain features. $BEAM tokens power all transactions and interactions on the platform, from asset transfers to smart contract usage.
BEAM also plays a governance role within the Merit Circle DAO, a decentralized autonomous organization associated with Beam. With current token circulating and total supplies of 148 million, the maximum supply stands at 262 million.
In terms of recent developments, over 91% of all Merit Circle tokens have now migrated to the Beam network. Meanwhile, Beam is collaborating closely with other gaming cryptos like Mavia (which also pumped 35% today).
Checking the token’s price technicals, BEAM had previously traded between $0.015 and $0.023 for over a month. $0.023 repeatedly acted as stubborn resistance during this period. However, today’s surge has emphatically broken through this barrier, as seen on the chart; price broke above this blue parallel channel.
With BEAM now exiting its previous trading channel after overcoming the resistance point, this likely signals further upside for its price. Additionally, its RSI score across all timeframes hovers around 60, indicating no overbought conditions despite the rapid uptrend.
In summary, Beam coin’s impressive 25% single-day price gain appears driven by strong project fundamentals in the fast-growing blockchain gaming space, alongside technical signals of further momentum ahead. With significant adoption and collaboration taking place, the future looks bright for Beam and $BEAM holders.
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