The cryptocurrency exchange Upbit made a significant move today. The step centered around the altcoin BEAM. Accordingly, the exchange announced that it will list BEAM in KRW, BTC, and USDT pairs starting from May 31, 2024.
Upbit Released a Statement on the Matter
Upbit detailed that BEAM, identified as BEAMX on some exchanges, will be supported on the Ethereum network. The special contract address for BEAM on Upbit is stated as 0x62D0A8458eD7719FDAF978fe5929C6D342B0bFcE. It was reminded that this contract address must be verified for any deposit or withdrawal transactions.
The exchange initially noted that buy orders will be restricted for approximately five minutes after trading is enabled. Additionally, sell orders priced 10% below or lower than the previous day’s closing price will also be restricted for about five minutes after trading support begins. Market and pending orders will face restrictions for about an hour.
BEAM is a Blockchain project developed by the gaming DAO Merit Circle, focusing on the gaming sector. Beam, an Avalanche subnet, aims to enhance the Blockchain gaming ecosystem with various technologies and applications. The Beam SDK allows easy integration of games with the Beam network, facilitating the trade of game assets through the NFT marketplace Sphere. BEAM is used for transaction fees, governance, and NFT trading. Following the listing announcement, BEAM’s price increased by 31%.
