Some of the leading losers in today’s cryptocurrency market include Beam (BEAM), showing the price fluctuations which small as well as relatively large cryptocurrencies can experience. Priced at $0. 01284 per BEAM, the cryptocurrency has been on a daily decline of 8. The overall market sentiment is one that is measuring, careful and slightly wary with 82% of the respondents.
The total value of share outstanding of Beam now is $635,038,363 and this it is 8% lower compared to the previous data. 91%. This has dragged the market cap downwards, and this could be due to a number of reasons including profit taking, market corrections or exterior macro-economic factors that affects the market in its entirety given its performance by Beam.
According to the amount of transaction the trading volume of BEAM within the last twenty-four hours has been pretty much with 16,464,025 US dollars worth of BEAM tokens traded. At some point, this volume sums up to about 60% of the book. I agree somewhat with this argument as we can also see a 47% growth in trading volume, which means that despite a decrease in the price on the exchange there is demand for trading Beam. Capping this up, volume to market cap ratio of 2 means. Further, 60% emphasizes the high level of liquidity and active trading which is associated with this asset.
The circulating supply of Beam is 49,466,004,168 BEAM and this make up 79% of the entire available BEAM in the market. 23% of the entire BEAM in circulation which is 62,434,008,330. Inflation is suppressed to a very significant degree since no new tokens can enter Beam’s circulation, and the maximum supply is equivalent to the total one. This factor may help to achieve some stability in the long run but in the short term it appears inadequate to prevent the current bear trend.
Among the important characteristics of Beam’s current market standing, one has to mention the fully diluted market cap equal to $800,114,561. Unlike the factor based on the price that gives investors a more unique outlook on the asset, this figure takes into consideration the total amount of tokens that are in existence. That, however, does not affect the fully diluted market cap which still appears to be strong; however, the current lowering of price cannot be ignored as it will pose a question mark on Beam business sustainability and inward FDI capacity.
There might be several reasons as to why Beam is among today’s biggest losers. It is not unusual for some crypto to experience market corrections especially after some upswing and it is entirely likely that what Beam is going through now is just such a phenomenon. B, In addition, external factors that might affect Beam’s performance include; regulation changes, macroeconomic factors, or even the existence of other privacy-focused coins.
However, it is still a project, centred around the privacy and anonymity concepts, which are very important within the context of cryptocurrencies. But today’s performance proved that the market and its sentiment play a crucial role for any project though it is often illusive and could have direct reference to actual conditions.
To investors and other market players, the case of Beam is a rather vivid example of fluctuations typical for this industry at the moment. However, in the short term, these privacy coins such as Beam present short-term volatility that needs to be observed keenly since the long-term is the key here.
During this period of market uncertainty, it will be important for Beam to stay on course with its development and with the creation of a community. Some of these include the global market recovery coupled with Beam’s internal restructuring, may hence act as an advantage for Beam to have a chance at growth once again. But for now, Beam is a clear example of how the market remains a roller coaster and a major loser of the day only goes to show that hope and change are equally around the corner.
+ There are no comments
Add yours