CandleFocus BEAM futures open interest hits 3-month high as it secures top gainer spot
2024-10-23
Author: Content Editor
Beam (BEAM) emerged as the top gainer among the top 100 cryptocurrencies on October 23, with a 7.4% increase while the rest of the market slumped. Its market cap surpassed $1 billion and its daily trading volume saw a 161% increase. The rise in BEAM's futures open interest suggests growing interest from traders, further supporting the bullish trend. Technical analysis indicators also indicate a short-term bullish trend, with the potential for a trend reversal breakout. However, large holders of BEAM have been stepping back, which could increase downward pressure if they decide to sell their holdings.
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