Upbit Lists BEAM on Multiple Trading Pairs

In a significant development today, the cryptocurrency exchange Upbit has taken a notable step involving the altcoin known as BEAM. Upbit has disclosed its decision to introduce BEAM in various trading pairs including KRW, BTC, and USDT, effective from May 31, 2024.

Upbit Announcement Regarding BEAM Listing

Upbit has provided detailed information on the inclusion of BEAM, also referred to as BEAMX on certain platforms, which will be supported on the Ethereum network. The specific contract address designated for BEAM on Upbit is mentioned as 0x62D0A8458eD7719FDAF978fe5929C6D342B0bFcE. Traders are reminded to verify this contract address for all deposit and withdrawal transactions.

Initially, Upbit has outlined that buy orders will face a temporary restriction for approximately five minutes once trading commences. Moreover, sell orders set at a price 10% lower than the previous day's closing rate will also be limited for about five minutes after the trading support initiation. Market and pending orders are expected to be restricted for an hour.

BEAM - A Blockchain Project by Merit Circle

BEAM is a Blockchain initiative spearheaded by the gaming DAO Merit Circle, with a primary focus on the gaming domain. As an Avalanche subnet, Beam aims to enrich the Blockchain gaming ecosystem through the implementation of diverse technologies and applications. The Beam SDK facilitates seamless integration of games with the Beam network, streamlining the exchange of game assets via the NFT marketplace Sphere. BEAM serves various purposes including transaction fees, governance, and NFT trading. Subsequent to the listing announcement, the price of BEAM surged by 31%.