GameFi Token BEAM Surges to All-Time High. Should You Buy?

• GameFi token BEAM reaches an all-time high of $0.03014.
• The global crypto market has turned bullish, rising over 4.3% in the past 24 hours to reach $1.87 trillion.

As Bitcoin (BTC) approaches its two-year high and the entire altcoin market shows upward trends, the leading GameFi cryptocurrency Beam (BEAM) hits an all-time high of $0.03014, with a 25% surge in the past 24 hours from $0.024.

BEAM Price Chart (Source: CoinMarketCap)

The bullish momentum for BEAM has been building since early December 2023, following a chain migration and GameFi recovery period that saw a remarkable 275% surge in just six weeks. 

Additionally, Beam’s recent strategic partnerships with Immutable, Polygon, and the Merit Circle DAO have propelled it to the forefront of the GameFi category, securing its position as the third-ranking altcoin with a market cap nearing $1.47 billion.

BEAM Token on the Bullish Rally

BEAM is the native token of the Beam cryptocurrency network. It serves as a utility token, powering network operations and governance within the ecosystem. With a primary focus on the gaming ecosystem, Beam enables smooth collaboration between developers and gamers, leveraging its token to facilitate transactions and contribute to the governance structure through the Merit Circle DAO.

Looking at the BEAM’s price action in the weekly time frame, it appears poised to reach new all-time highs if the current trend persists. However, if BEAM fails to stay above $0.025, there’s a chance of a reversal, potentially dropping to crucial support levels at $0.021 and even further down to $0.0199.

At the time of writing, BEAM is trading at $0.02844, with a daily trading volume exceeding $126 million, marking a significant 73% surge over the past 24 hours.