Although the cryptocurrency market is generally in the green zone, it is flying low. However, there are also those who go higher in response to the good news they receive. Upbit, South Korea’s leading crypto exchange, announced that it will add BEAM to its list. Following this listing news, the altcoin price skyrocketed.
Upbit lists BEAM, altcoin price soars!
cryptokoin.comAs you follow from , the market is waiting for critical inflation data from the USA. Amidst this wait, leading cryptocurrencies are moving sideways in the green zone. However, some tokens perform better. In the background of this is the good news they received. Upbit, South Korea’s leading cryptocurrency exchange, announced that it will launch BEAM on KRW, BTC and USDT trading pairs. The stock exchange stated that transactions will begin on May 31 between 18:00-19:00. In this context, Upbit shared the following announcement on its official X account:
Announcement of new digital asset BEAM trading support
- Supported markets: KRW, BTC, USDT markets
- Trade support is scheduled for 18:00 ~ 19:00 on 31.05.2024.
With the impact of the list news, BEAM price made a sudden jump. The altcoin, which was traded at $ 0.026 during the day, made a vertical rise to $ 0.0354. Even though it lost some altitude after this, it still continues its flight. At the time of writing, BEAM was changing hands at $0.0322, up over 19% on a daily basis.
How will trade restrictions work?
Initially, Upbit will impose certain trading restrictions to facilitate a smooth start. It will limit buy orders to approximately five minutes after trading activation. Simultaneously, sell orders priced 10% below the previous day’s closing price will face similar restrictions. Additionally, both the market and pending orders will be restricted for approximately one hour.
BEAM is a blockchain initiative focused on the gaming industry from gaming DAO Merit Circle. Developed as an Avalanche sub-net, BEAM aims to advance Blockchain gaming through various technologies. Beam SDK provides seamless game integration with its network. It also supports trading of gaming assets through NFT marketplace Sphere. BEAM is used for transaction fees, governance, and NFT trading. The listing announcement led to a significant price increase for BEAM, reflecting positive market sentiment.
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