Overview
We’ll start by diving into the fundamental aspects of the Beam crypto project. In doing so, we’ll provide an overview of the project’s purpose, Beam’s connection to the Merit Circle DAO, and more. Our focus will then shift to the BEAM crypto token, exploring its role within the broader Beam project, and we’ll clarify the token’s objectives and use cases. Additionally, we’ll examine the tokenomics of BEAM, considering whether they might influence its future price.
Armed with a comprehensive understanding of the BEAM token and its underlying project, we’ll dive into an analysis of the coin’s price. As such, we’ll review its historical price movements and leverage technical analysis (TA) tools to interpret BEAM’s current price levels. For those engaged in altcoin investing or trading, the concluding sections of this article will be particularly intriguing. This is where you’ll discover how Moralis Money can assist you in determining whether BEAM (or any other altcoin) is a sound investment.
Finally, if you decide to acquire a portion of BEAM crypto, we’ll guide you on where to find the right market for you.
What is BEAM Crypto?
“BEAM crypto” most commonly refers to the BEAM cryptocurrency. However, since the project behind this token is called Beam, the “BEAM crypto” phrase also tends to refer to the project itself. As such, to answer the above question properly, we ought to take a closer look at both Beam and $BEAM.
Beam and Merit Circle
Merit Circle, a dynamic and global community, has started to reshape the future of gaming through its revolutionary DAO (decentralized autonomous organization) back in 2021. This ever-evolving digital ecosystem aims to fuse the boundless potential of blockchain technology with cutting-edge gaming innovations. The Merit Circle DAO is driven by a commitment to usher in the next generation of immersive gaming experiences. Moreover, the ecosystem is deeply rooted in the Web3 space, recognizing the imminent need for a revolution in the gaming industry.
One of the ecosystem’s objectives is to integrate blockchain capabilities into gameplay. By doing so, they wish to push forward the traditional dynamics shift, turning user efforts and skills into actual ownership. After all, according to the Merit Circle DAO’s vision, games belong to the crowd, not just the developers.
Beam is at the core of Meric Circle’s infrastructure pillar. Technically, Beam is the Merit Circle DAO’s blockchain network – a new blockchain designed to support Web3 gaming. That said, viewing Beam as a unique crypto project is not wrong.
It’s worth pointing out that the Merit Circle DAO is organized into four distinct verticals:
- Merit Circle Investments focuses on strategic investments across the Web3 landscape, creating a resilient treasury to support sustained growth.
- Merit Circle Gaming seeks to disrupt industry practices, scaling engaging and well-designed games while advancing the gaming infrastructure for a more entertaining and rewarding experience.
- Merit Circle Studios, at the forefront of the gaming industry, contributes on a larger scale by building new games and incubating innovative projects.
- Merit Circle Infrastructure addresses the growth of the NFT space and gaming industry, leveraging in-house knowledge.
Beam’s Collaboration with Immutable and Polygon.
According to one of Merit Circle DAO’s recent announcements, Beam aims to fulfill its chain-agnostic vision by partnering with Immutable and Polygon Labs. This collaboration is poised to expand its ecosystem and product suite.
What started as a subnet on Avalanche, the Beam crypto project now embraces a multi-chain approach. By collaborating with Immutable and Polygon Labs, Beam focuses on its Sphere marketplace. The latter is poised to become a central hub in both ecosystems.
Furthermore, the partnership underscores their shared goal of revolutionizing the gaming industry and positioning blockchain technology at the forefront of next-gen games. The collaboration integrates parts of the Beam SDK into Immutable and Polygon, with Sphere leveraging zkEVM for instant settlement and low fees.
This collective venture also enriches the Beam product suite, introducing features like Sphere’s integration with Immutable’s orderbook and the introduction of account abstraction. The collaboration not only marks a major step for Merit Circle DAO in terms of credibility but also emphasizes sustainability, with transaction fees contributing to ecosystem growth and token burning.
About the Beam Crypto Network and Ecosystem
The above screenshot presents Beam’s official website. This is the place to visit if you wish to explore the ins and outs of the Beam network and ecosystem. Even if you are a Web3 game developer interested in building on top of Beam, this is the best place to start.
Let’s point out again that Beam is not your average blockchain. Instead, it is a holistic gaming ecosystem designed to elevate the gaming experience for both players and developers. Rooted in extensive testing, Beam offers a universal platform with a wide array of features.
The project is constantly evolving; however, at the time of writing, these are the main pillars of Beam:
- Effortless Onboarding: Teamed up with Openfort, Beam ensures a hassle-free entry for gamers with quick and simple wallet setups.
- Beam Companion App: A gaming assistant for managing, transferring, and securing in-game assets, available on iOS and Android.
- Sphere: More than just an NFT marketplace, Sphere serves as the nerve center for gaming NFTs, streamlining asset buying, selling, and management.
- Beam Hub Experience: Evolving from a simple platform to a dual experience, catering to both newbie explorers and competitive gamers.
- BeamOS: An integrated experience meshing all of Beam’s offerings into a unified gaming interface.
- Beam SDK: The Beam SDK amplifies gameplay by offering tools for a tailored gaming development journey.
At its core, Beam aspires to create harmony between gamers and developers. The project’s ambitious goals for Web3 gaming are intertwined with concepts of ownership, empowerment, and building a global community.
The BEAM Crypto Token
By this point, you know that Beam is a blockchain poised to shape the future of the gaming industry. At its core lies the native currency, the BEAM crypto token. The latter plays a pivotal role in interactions within the Beam network.
It is important to point out that $BEAM came to life on the Ethereum chain as an ERC-20 token. However, the asset can now be bridged from Ethereum to Beam and vice versa. Additionally, keep in mind that the BEAM token is replacing the Merit Circle (MC) token in a 1:100 ratio:
$BEAM Purpose and Use Cases
$BEAM serves as the native currency for transactions within the Beam network. As such, it facilitates seamless and immersive Web3 gaming experiences, where on-chain transactions are one of the key elements. Moreover, like any other native cryptocurrency, the BEAM coin is required for transfers of value and all interactions with smart contracts on the platform.
Aside from serving as a layer-1 token – validating, securing, and powering transactions on the Beam network – $BEAM is also taking the role of a governance token.
Note: Feel free to explore Beam’s gas token concept, fee distribution, and fee configuration in Beam’s official documentation.
Beam stands out by being compatible with Ethereum Virtual Machine (EVM). This enables developers to effortlessly port Ethereum-based applications onto Beam.
The ecosystem currently grants the rights to build on Beam through four out of eight multi-signature mechanisms to ensure quality and security. However, Beam points out it welcomes developers interested in contributing to the network.
BEAM Tokenomics
- Token name: Beam
- Symbol/ticker: BEAM ($BEAM)
- Networks:
- Ethereum
- Beam
- Token type:
- ERC-20 (Ethereum)
- Native coin on Beam
- Smart contract address: 0x62D0A8458eD7719FDAF978fe5929C6D342B0bFcE
- Minting timestamp: October 16, 2023, at 14:24:35 (+UTC)
- Relation to $MC: BEAM is replacing MC (every $MC converts into 100 $BEAM)
- The token’s maximum supply is not capped (token is mintable)
The fact that BEAM’s supply is not capped could have an inflationary effect. Nevertheless, the project’s documentation clarifies that a portion of BEAM designated for transaction fees will be burned, consequently permanently removing it from circulation and causing a deflationary impact. Therefore, we’ll need to observe the above to determine how these mechanisms balance out over time.
$BEAM Crypto Price
The above 12-hour chart indicates the entire BEAM crypto price action so far. After starting to trade at approximately $0.0048 on October 26, 2023, the token’s first 13 days presented mainly sideways action. During that period, none of the 12-hour candles managed to close above $0.005.
However, on November 8, 2023, the BEAM price started to climb, setting new all-time highs (ATHs) daily. The first noticeable resistance came into play on November 13. After the asset hit $0.0091, it pulled back approximately 25%. But it soon set a new ATH – it reached $0.0101 three days later.
At the time, the one-cent barrier proved to be too strong. After all, the BEAM coin’s price spent the next 15 days bound between $0.0076 and $0.01. However, the fourth attempt at the $0.01 resistance that took place on December 1, 2023, pushed $BEAM to new heights.
With several minor retracements along the way, the token has been on quite a run since then. By December 14, 2023, it reached as high as $0.027, which is more than 5x above the asset’s listing price. Then, after setting its ATH, the price pulled back by more than 15% within the same twelve-hour candlestick. However, it seems that it is already trying to recover.
At the time of writing, $BEAM is trading around $0.024.
TA and Money Line
In the above twelve-hour BEAM chart on a logarithmic scale, we charted the asset’s key support and resistance levels. However, while these TA basics tend to help us predict certain future prices, they are not that valuable for young tokens such as BEAM.
The coin hasn’t been around for long enough to make much use of TA. Even the most powerful indicator – Money Line, doesn’t have sufficient data on weekly or daily timeframes. That said, on the four-hour timeframe, the Money Line indicator’s last “Bullish” signal still stands. And the latest pullback neatly retested the very bottom of the indicator’s “cloud” feature:
Note: If you wish to get your hands on the Money Line indicator, make sure to opt for the Moralis Money Pro or Starter plan.
The bottom line is that, at the moment, the $BEAM chart looks rather strong. However, it is impossible to say how high this gaming token can go. So, it is important to use the best crypto charting tool and keep a close eye on it. That said, we can offer a BEAM price speculation by comparing BEAM with some of the most successful cryptocurrencies from the Web3 gaming category from the previous cycle. So, by comparing and speculating, the token has enough potential for yet another 10x or even more.
How to Get BEAM Crypto Price
When it comes to viewing the BEAM crypto price, we believe live dynamic charts are the best option. And in the above two sections, we’ve used some of the best crypto trading tools that offer such views.
The first one is Moralis Money – the best crypto trading tool for spotting and researching altcoin opportunities. This powerful yet simple tool offers token pages, including the one for BEAM. And the Moralis Money $BEAM token page also includes the “Price Chart” section, which offers a live price view for free.
Another tool that we used above is TradingView, which is also pretty powerful. However, unlike Moralis Money, it doesn’t utilize the power of real-time, on-chain insights.
Should I Invest in BEAM Crypto?
The sections above should be more than enough to help you decide if the BEAM crypto deserves further attention. If yes, then you ought to explore the token and the project behind it further. Only after conducting more research will you be able to answer the above question with confidence.
So, make sure to follow the “$BEAM” link in the previous section or use the interactive widget below. That way, you can deploy the power of Moralis Money’s $BEAM token page. The latter provides you with all the resources and tools to decide if BEAM is a good investment for you.
Particularly useful are the “Price Chart” and “Alpha Metrics” sections, as they provide you with BEAM’s live price and real-time, on-chain metrics. Moreover, they empower you to determine if now’s a good time to buy the token.
Where to Buy BEAM Crypto?
If you decide you wish to get a bag of $BEAM, you have several options. Just use the “Market” section on CoinGecko or CoinMarketCap page for that token. There, you’ll find a list of all CEXs and DEXs that offer the relevant training pair, including the trading volume. As such, you can easily pick a market that best suits your goals.
Key Takeaways – Will BEAM Crypto 100x?
- Beam is Merit Circle DAO’s project and a blockchain network that focuses on supporting Web3 gaming.
- The BEAM crypto token is the Beam chain’s native cryptocurrency, serving as a network fuel.
- $BEAM is also a governance token of the Merit Circle DAO, taking over the role of the MC token.
- The best place to research this altcoin opportunity is the Moralis Money $BEAM token page. Among other resources and powerful insights, it offers the coin’s live price and on-chain metrics.
- This page is the best place to help you decide if you should invest in the BEAM coin.
Let’s remind you that Moralis Money’s token pages are just one of many features that place this platform at the very top of the list of best crypto analysis tools. In fact, the platform’s features, including its crypto pump detector, crypto whale tracker, and crypto scanner, are even more powerful. After all, they enable you to spot the best altcoin opportunities. Only once you have found alts worth your attention can you explore them with cryptocurrency analysis sites. With that in mind, make sure to take Moralis Money for a spin today!
