The cryptocurrency market is generally flying low, albeit in the green zone. However, there are also those who have risen higher on the good news they have received. Upbit, the leading crypto exchange in South Korea, announced that it will add BEAM to its list. The altcoin price skyrocketed after this listing news.
Upbit lists BEAM, altcoin price soars!
As you follow on Kriptokoin.com, the market is waiting for critical inflation data from the US. Amid this wait, the leading cryptocurrencies are moving sideways in the green zone. However, some tokens are outperforming. In the background of this is the good news they received. South Korea’s leading cryptocurrency exchange Upbit announced that it will launch BEAM on KRW, BTC and USDT trading pairs. The exchange stated that transactions will start 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 31.05.2024 at 18:00 ~ 19:00.
BEAM price jumped sharply on the news of the listing. The altcoin, which was trading at $0.026 during the day, made a vertical ascent to $0.0354. Although it lost some altitude after that, it is still flying. At the time of writing, BEAM was changing hands at $0.0322, up over 19% on a daily basis.
How will the trading restrictions work?
Initially, Upbit will implement certain trading restrictions to facilitate a smooth start. Buy orders will be limited to approximately five minutes after trade activation. Simultaneously, sell orders priced 10% below the previous day’s closing price will face similar restrictions. In addition, both market and pending orders will be restricted for approximately one hour.
BEAM is a Blockchain initiative of gaming DAO Merit Circle focused on the gaming sector. Developed as an Avalanche sub-net, BEAM aims to advance Blockchain gaming through various technologies. The Beam SDK enables seamless gaming integration with its network. It also supports the trading of gaming assets through the NFT marketplace Sphere. BEAM is used for transaction fees, governance and NFT trading. The listing announcement led to a significant price increase of BEAM, reflecting positive market sentiment.
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