South Korea's largest crypto exchange, Upbit, recently announced the listing of Beam (BEAM) on its platform, drawing significant market attention.

The announcement propelled BEAM's price to $0.0336, a 26% increase within 24 hours. This price surge coincided with a 632% rise in trading volume, now at $124.2 million. Additionally, BEAM has risen 53% over the past 30 days.

Starting May 31, 2024, BEAM will be tradable on Upbit in KRW, BTC, and USDT pairs. However, on some exchanges, the token may be listed as BEAMX. On Upbit, BEAM's contract address is 0x62D0A8458eD7719FDAF978fe5929C6D342B0bFcE, and users are advised to verify the address for deposits and withdrawals.

To prevent market volatility, buying orders will be restricted for five minutes after listing, and sell orders priced 10% below the previous day's closing price will also be restricted. Both market and booking orders will be restricted for about an hour post-launch to stabilize the market.

About BEAM

BEAM is a blockchain project focused on Web3 gaming development and gameplay, led by Merit Circle, a gaming DAO with over 60 partner games. The project aims to create a robust blockchain gaming ecosystem using the Beam Network, built on the Avalanche subnet. The Beam SDK facilitates easy game integration with the Beam Network and includes an NFT marketplace called Sphere for trading gaming assets.

“Beam is meant for gamers and game developers alike: to take away the complexity and still offer true ownership and easy control of that ownership,” says Brandon Aaskov, CTO of Merit Circle DAO.

As of 5:00 a.m. ET on Friday, BEAM is trading at approximately $0.0336, with its market cap surging over 26% to around $1.666 billion, making it the 60th largest cryptocurrency by market cap on CoinMarketCap. Over the past year, BEAM's value has quintupled, reflecting growing interest from the crypto community. BEAM reached an all-time high of $0.043 in March this year.

The listing of BEAM is part of Upbit's strategy to diversify its offerings and support innovative blockchain projects. This week, Upbit also launched several other crypto projects' Korean won pairs, including Stargate Finance (STG) and Bounce (AUCTION).