BEAM Inks 15% Gains As Exciting Developments Hit The Market Details

With the market posting minute but continuous gains, BEAM captures this momentum, which caused the current uptick in the tokens price. According to CoinGecko, BEAM is up nearly 18% in the past 24 hours as investors flock to the token.

The Beam network is experiencing awesome on-chain development that gives it an edge against its competitors. As the market enters a new week with enthusiasm, BEAM might be on the path of bullishness in the long run.

Beam Network Goes To Gamescom 2024

Earlier this month, Beam Network announced that it will have a spot on Gamescom 2024, the largest gaming event in the world. It is accompanied by Domi Online, an MMORPG built on the Beam Network. The event will allow the platform to show the capabilities of the network along with the use cases of crypto in the gaming world.

.@DomiOnline is showcasing at Beam goes @gamescom
Join us in an exclusive night filled with gaming, networking and a chance to play the latest build of Domi Online
August 21st, 2024 6 PM 12 AM Pe303, Cologne, Germany. https://t.co/sjbXmDtl7e pic.twitter.com/Ry98DRQ8id
Beam (@BuildOnBeam) August 10, 2024

Gamescom hosts gaming industry giants like Microsofts XBOX, Bethesda, and Blizzard among the attendees. Beams showcase in Gamescom will eventually drive the mainstream gamers to be interested in the crypto gaming scene, perhaps even leading to big partnerships with the big shots like how Immutable secured a partnership with Ubisoft for a blockchain-based game back in 2023.

Beam goes @gamescom The venue
In two weeks from now well gather the Beam family to celebrate the future of gaming in this wonderful venue!
August 21st, 2024 6 PM 12 AM Pe303, Cologne, Germany https://t.co/sjbXmDtl7e
More information pic.twitter.com/FS21nnUGLQ
Beam (@BuildOnBeam) August 2, 2024

Gamescom 2024 will be held in Cologne, Germany on August 21.

With Beams continuing innovation for its platform, it will disrupt the crypto-gaming space becoming one of the major players in the industry long-term. In terms of how it will affect BEAMs price movement is still a mystery.

BEAM Slightly Dims As Market Slows Down

As of writing, the token is still on the green, attempting to break through the $0.01444 ceiling in the short term with a sharp uptick in price. This breakthrough might not happen today as the bulls lose steam. This wont hurt gains in the past 24 hours, but it will affect long-term gains if the token loses its momentum.

Two things can happen in the next couple of days: BEAM breaks through the $0.01444 ceiling flipping it to support, or the bulls fail to secure the latter price ceiling and then stabilizes on the $0.01273 and $0.01444 price range.

If the breakthrough continues, investors and traders should aim to settle on $0.01685 for the long term, giving BEAM strong support for further upward movement. However, if the opposite happens, the token might dive below $0.01444, settling in the $0.1054-$0.01273 price range.

However, investor confidence in the platform and token is high. With their attendance at Gamescom being the biggest driver of retail investor interest, we might expect more movement once we enter the next week. Investors and traders should keep an eye on BEAM as its mainstream entry will have a significant effect on retail perception on the crypto gaming scene.

Featured image from Pexels, chart from TradingView

Text source: NewsBTC

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