According to CoinMarketCap data, the cryptocurrency Beam, powered by Merit Circle DAO, tops today’s gainers with 43.8% growth in the last 24 hours.
Despite Beam’s X account getting suspended, Merit Circle DAO’s official account shared a January update with a progress update that ignited bullish sentiment. The earlier tweet, dated Dec. 28 and reshared on Jan. 3, states that the Beam subnet on Avalanche has seen 768,254 blocks produced, over 1 million total transactions, and boasts 362,435 addresses since its launch three months ago.
The thread also highlighted a series of games built on the platform, including Age of Battles.
Positive sentiment may also be spillover from “buy the dip” mentions on social media that have risen to an all-time high since March, following a negative review from Matrixport about Bitcoin ETF approvals that had previously put some downward pressure on the world’s largest cryptocurrency.
Beam (BEAM) utilizes the BEAM token as its native crypto asset within its gaming ecosystem. With the Beam SDK, developers can shape in-game blockchain elements, fostering collaboration between gamers and developers.
BEAM has since initiated significant rallies, achieving new all-time highs during this period. The asset encountered occasional resistance, and the initial major hurdle surfaced at the $0.00876 price level. Currently, Beam’s price hovers near resistance, potentially leading to selling pressures in the near future.
At the time of writing, BEAM is sitting at $0.02287 with a live market cap of $1,116,557,867, an impressive 90.4% price surge in the last 30 days.
