Key Takeaways
Since its release in late October, the price of the BEAM token has more than doubled. The Beam game development platform has gained the attention of investors, and the token reached an all-time high in March. After that, though, it fell, and on Oct. 23, 2024, BEAM was trading at about $0.0189.
However, a recent increase in open interest in Beam’s future suggests that the token is getting traders’ attention.
But what is Beam (BEAM)? How does Beam work? Let’s find out and also look at some of the Beam price predictions made as of Oct. 23, 2024.
Let’s now look at our Beam price predictions, made on Oct. 23, 2024. While we take the utmost care with our price forecasts, it is important to remember that price predictions, especially for something as potentially volatile as cryptocurrency, often end up wrong.
Minimum BEAM Price Prediction | Average BEAM Price Prediction | Maximum BEAM Price Prediction | |
---|---|---|---|
2024 | $0.006 | $0.018 | $0.022 |
2025 | $0.012 | $0.03 | $0.045 |
2030 | $0.02 | $0.08 | $0.12 |
In 2024, BEAM is likely to experience further volatility, potentially dropping to $0.006 if the corrective Z wave plays out. However, if the ascending channel holds, BEAM could average around $0.018, possibly reaching $0.022 if the bullish wave five is successfully completed.
By 2025, BEAM may face a temporary market correction or consolidation, which could see the price drop to a minimum of $0.012. However, as market conditions improve, BEAM could average around $0.03, with the potential to reach $0.045 if a new bullish cycle takes shape and investor sentiment strengthens.
Looking toward 2030, BEAM may encounter market fluctuations, leading to a minimum price of $0.02. If the project continues to develop and adoption grows, BEAM could average $0.08, with a maximum of $0.12 if strong demand and technological advancements propel its value upward.
After its launch in October last year, BEAM surged by 1,300%, reaching a high of $0.044 in March 2024 before entering a downtrend. After dropping to $0.02 in April and then a lower low of $0.01 in August, the price stabilized above $0.01, signaling a potential end to the correction.
A breakout above descending resistance in October indicated the start of a new bull phase, with the price rising to $0.021. However, BEAM is showing signs of struggle near current highs, raising questions about whether it will continue upward or face a downturn.
The ascending channel formed after August could either signal the start of a bullish trend or a continuation of the correction. BEAM could rise to $0.022 if momentum holds, but if it falters, a bearish scenario could push the price as low as $0.006 with another corrective wave.
The Beam price prediction for the next 24 hours will all depend on whether it can maintain momentum
The Average True Range (ATR) measures market volatility by averaging the largest of three values: the current high minus the current low, the absolute value of the current high minus the previous close, and the absolute value of the current low minus the previous close over a period, typically 14 days.
A rising ATR indicates increasing volatility, while a falling ATR indicates decreasing volatility. Since ATR values can be higher for higher-priced assets, normalize ATR by dividing it by the asset price to compare volatility across different price levels. On Oct. 23 2024, BEAM’s ATR was 0.00073, suggesting low volatility.
The Relative Strength Index (RSI) is a momentum indicator traders use to determine whether an asset is overbought or oversold. Movements above and below the 50 line also indicate if the trend is bullish or bearish.
On Oct. 23 2024, BEAM’s RSI was at 58, indicating bullish conditions.
The CCN Index uses a range of indicators to measure a cryptocurrency’s price momentum.
On Oct. 23, 2024, BEAM scored 35.8 on the CCN Index, suggesting relatively weak momentum.
We took a look at the Beam price history and found the best times to buy BEAM.
Day of the Week | Monday |
Week | 46 |
Month | February |
Quarter | Fourth |
Let’s now examine some of the key dates in the Beam price history. While past performance should never be used as an indicator of future results, knowing what BEAM has done in the past can give us some much-needed context when making or interpreting a Beam price prediction.
Time Period | Beam Price |
---|---|
One week ago (Oct. 16, 2024) | $0.01746 |
One month ago (Sept. 23, 2024) | $0.01803 |
Three months ago (July 23, 2024) | $0.01965 |
Launch price (Oct. 29, 2023) | $0.004241 |
All-time high (March 10, 2024) | $0.04434 |
All-time low (Oct. 29, 2023) | $0.004241 |
The market capitalization, or market cap, is the sum of the total number of BEAM in circulation multiplied by its price.
On Oct. 23, 2024, Beam’s market cap was $922 million, making it the 75th-largest crypto by that metric.
Supply and distribution | Figures |
---|---|
Maximum Supply | 62,434,008,330 |
Circulating supply (as of Oct. 23, 2024) | 49,466,004,168 (79.23% of maximum supply) |
In its technical documentation or whitepaper , Beam says it aims to make creating games on the blockchain easier.
It says: “Beam is a sovereign network focused on gaming brought to you by the Merit Circle DAO. Powered by the established Avalanche network, Beam operates independently to cater towards gamers and game developers.”
The BEAM cryptocurrency supports the Beam network. The platform is designed to be a place where developers can create online games.
Based on the Avalanche (AVAX) blockchain, it should not be confused with the Beam blockchain, a network created to allow blockchain users greater privacy.
However, while Beam is based on Avalanche, BEAM is based on Ethereum (ETH).
The Beam network allows people to transfer their Ethereum-based applications onto the system. To build on Beam, developers need the approval of four people from a panel of eight members of the Merit Circle DAO.
The BEAM token pays for transactions on the platform. It can also be bought, sold, and traded on exchanges.
Because BEAM is based on Ethereum, it is a token, not a coin. You might see references to such things as a BEAM coin price prediction, but these are wrong.
It is, perhaps, still a little too early to tell. While BEAM has performed well since coming out, the platform is still in its early stages. We don’t know whether it can continue to rise or whether its recent upturn is just a spike.
As always with crypto, you should do your own research before deciding whether or not to invest in BEAM.
No one can really tell right now. While the Beam crypto price predictions are largely positive, price predictions have a well-earned reputation for being wrong. Keep in mind, too, that prices can and do go down and up.
Before deciding whether to invest in Beam, you will have to do your own research, not only on BEAM, but on other related coins and tokens such as GALA. Either way, you will also need to ensure you never invest more money than you can afford to lose.
Technical analysis by Nikola Lazic.
It could do, just not for a little while. Our Beam price prediction suggests the token could, potentially, break the 10 cent barrier in 2030.
BEAM pays for transactions on the Beam platform. People can also buy, sell, and trade it on exchanges.