# Beam News Today: Why BEAM Is Down – 01 November 2026 **Author:** CoinStats AI **Published:** November 1, 2026 at 04:15 --- ## Coin Information - **Name:** Beam (BEAM) - **Current Price:** $0.00611569 - **24h Change:** +23.68% --- ## What is the latest Beam news today? > **TLDR** > • Beam Foundation burned 984.249 million BEAM tokens worth $3.37 million via Gnosis Safe Burn Signature after the 29 October Binance hack. > • BEAM rallied 45.2% in 24 hours with a 1,115% daily trading volume hike following the token burn. > • Daily RSI hit 82, signaling overbought conditions, with analysts flagging a possible pullback to $0.0040. > • Cumulative treasury burns total 40,305,762,659 BEAM tokens, per the Beam Foundation dashboard. > • Beam pivoted in May from gaming to a broader Avalanche-based L1 covering AI, DeFi, RWA and consumer apps. Beam news today centers on a token burn tied to the October 29 Binance hack. The Beam Foundation's issuer burned 984 million BEAM tokens that the attacker had taken from Binance. 984.249 million tokens worth around $3.37 million were burned using the Gnosis Safe Burn Signature, according to a recent report. The attack itself was broad: Other issuers froze USD1, XAUt, PAXG, wBETH and FDUSD, and BEAM's issuer burned 984 million stolen tokens. ## Token burn and market reaction Market reports said the token rallied while the broader market sold off after the hack disclosure. The gaming sector and ecosystem token Beam rallied 45.2% in the last 24 hours, accompanied by a 1,115% hike in daily trading volume, according to market data. The decision by the Beam Foundation to burn the hacker's BEAM holdings removed a large block of tokens from circulation and gave traders a concrete reason to bid the asset higher. BEAM is trading at $0.005076, down 3.43% over 24 hours, and remains 88.51% below its all-time high of $0.04416. Technical indicators pointed to overheating after the spike. The RSI on the daily chart was at 82, once again in overbought territory. Some analysts suggested caution. A pullback towards $0.0040 would likely provide a buying opportunity. ## Ecosystem direction The project has been widening its focus beyond gaming. Beam is expanding to beyond gaming, with a push into DeFi, RWA, AI and consumer apps on its Avalanche-based L1. An official account described the strategic shift in May, calling Beam a strategic pivot from a gaming-focused chain to a broader platform encompassing AI, DeFi, and compute. Beam's treasury dashboard shows the cumulative burn total, which stands at 40,305,762,659 BEAM tokens burnt. ## Note on naming Search results for "BEAM" also return Beam Therapeutics, a Nasdaq-listed gene-editing company. Its stock news, including analyst ratings and trial updates, is unrelated to the BEAM token covered here. **Sources:** - [BEAM's price defies market trends with multi-month uptrend, but what should traders do?](https://cryptonews.net/news/analytics/33680918/) - [Beam Token Rallies 45.2% as Binance Hacker Tokens Burned](https://ca.headtopics.com/news/beam-token-rallies-45-2-as-binance-hacker-tokens-burned-89396345) - [How Did the Binance Hack Happen? Detailed Investigation of the $6 Billion Heist](https://beincrypto.com/how-did-binance-hack-happen/) - [Beam Foundation Treasury: Transparent Treasury Management](https://treasury.onbeam.com/beam-token) - [Beam expands to 'more than gaming'](https://www.blockchaingamer.biz/news/38866/beam-expands-more-than-gaming/) - [Latest Beam (BEAM) News Update](https://coinmarketcap.com/cmc-ai/onbeam/latest-updates/) ## Why is Beam price down today? > **TLDR** > • Beam traded at $0.005076, down 3.43% over 24 hours but up 56.14% over seven days. > • Beam Foundation burned 984.249 million tokens linked to the Binance hacker, fueling a 45.2% rally. > • CoinGabbar's 30 October analysis flagged RSI at 78.10 and open interest at 50.5% of market cap. > • Beam sits 88.51% below its all-time high of $0.04416. > • The token's unlock schedule ended in 2025, per Tokenomist. Beam price today is $0.005076, down 3.43% over 24 hours, though the token is still up 56.14% over seven days. The 24-hour dip is small against that weekly gain, which points to a pullback after a sharp run rather than a breakdown in the trend. ## Price Action and Volume Trading volume reached $118.17M over the past day against a market capitalization of $255.85M, which keeps the token at rank #216. Turnover is high relative to market value, so the decline came with active trading rather than thin liquidity. The 1-hour change of -0.07% suggests the selling had largely slowed by the time of this snapshot. ## Possible Drivers No confirmed news catalyst for the 24-hour decline has been identified. The most visible recent event was a rally rather than a sell-off. One report describes Beam token surged 45.2% in 24 hours with trading volume up 1,115% after the Beam Foundation burned 984.249 million tokens linked to the Binance hacker. That move left the token vulnerable to profit-taking, and the current dip fits that pattern. Supply pressure from scheduled releases appears unlikely to be the cause. Tokenomist states that the unlock schedule ended in 2025. ## Technical Picture Analysts who tracked the breakout flagged overheating before the current dip. CoinGabbar's assessment, captured on October 30, held that RSI at 78.10 and open interest at 50.5% of market cap point to a pullback. The same analysis argued that this Beam price prediction November 2026 favors caution over chasing. Those readings are several days old, so they describe the setup that preceded this session rather than the current one. ## Market Context Beam remains far below its peak. The all-time high is $0.04416, and the current price sits 88.51% under it. Circulating supply is 50,315,935,307 BEAM against a total supply of 57,485,935,307, so most of the float is already in circulation. The 7-day gain of 56.14% means the 24-hour move is best read as consolidation after a strong recovery, with the broader trend still positive but the short-term momentum now cooling. **Sources:** - [Beam Token Rallies 45.2% as Binance Hacker Tokens Burned](https://ca.headtopics.com/news/beam-token-rallies-45-2-as-binance-hacker-tokens-burned-89396345) - [Beam Price Prediction November 2026: Can It Reclaim $0.004629?](https://www.coingabbar.com/en/beam-price-prediction-november-2026) - [Beam (BEAM)](https://tokenomist.ai/beam-2) ## What is the Beam market sentiment today? > **TLDR** > • Beam developers froze and burned hacker-held BEAM tokens after the $6.36B Binance breach, triggering a rally. > • BEAM trading volume hit approximately $170 million in 24 hours, up over 2,000% from the previous day. > • Upbit's $BEAM/KRW pair saw about $57 million in transactions, while Binance's Turkish lira pair exceeded $10 million. > • LunarCrush reported 685.9K engagements and 94% positive social sentiment, while Coinbase showed 47.57% bullish tweets. > • Daily RSI reached 82, overbought territory; an October overbought reading preceded a 16.54% move higher over ten days. Beam market sentiment is bullish in the short term, but caution is rising as the rally pushes momentum indicators into overbought territory. The move is driven mainly by a single event, so the mood depends on whether that catalyst holds. ## Catalyst Behind the Shift The rise is attributed to developers remotely freezing and burning all BEAM tokens that fell into the hands of hackers during the Binance hack. The developers acted quickly and prevented the hackers from selling their tokens. While the rest of the crypto sphere panicked and sold after news of the Binance heist broke, BEAM's price surged across the board. The wider breach was reported at a $6.36B breach, which makes the contrast with BEAM's behavior a central theme in current commentary. ## Flows and Trading Activity Trading activity spiked alongside the move. BEAM's trading volume in the last 24 hours reached approximately $170 million, an increase of over 2,000% compared to the previous day. Venue distribution was concentrated: South Korean platform Upbit stood out. Approximately $57 million worth of transactions took place in the $BEAM/KRW pair, while Binance's volume in the Turkish lira pair also exceeded $10 million. ## Social and Community Sentiment Social readings are strongly positive but vary by source. LunarCrush reports that over the last 24 hours it has seen 685.9K engagements, 413 posts and 255 creators with 94% positive social sentiment. A separate Coinbase social snapshot is more measured: 47.57% of tweets with bullish sentiment compared to 5.83% of tweets with a bearish sentiment about Beam. 52.43% of tweets were neutral about Beam. The gap suggests that the most enthusiastic voices are louder than the broader conversation, which remains largely neutral. ## Trader Positioning and Technical Signals The daily RSI is a key caution flag. The RSI on the daily chart was at 82, once again in overbought territory. Earlier overbought readings in October were followed by a 16.54% move higher over ten days, so an overbought reading does not by itself confirm a reversal. Analysts have been cautious on entries: without a clear sign of a short-term pullback, BEAM swing traders need to wait and not rush to look for a re-entry. One aggregator's AI-generated summary describes the consensus as bullish but cautious, and flags that the outlook is now dictated by whether it can consolidate recent massive gains or succumbs to profit-taking from a concentrated holder base. ## Recent Sentiment Shifts Sentiment entering this week was already constructive. In June, $BEAM broke above the downtrend's lower high at $0.0016, flipping its structure bullishly. The latest surge is the first major test of that structure under stress, since it occurred while broader crypto markets were selling off. **Overall reading:** Bullish sentiment with elevated caution. Positive social engagement and inflows are strong, but overbought momentum and a concentrated holder base raise the risk of a sharp pullback if the exploit-related narrative fades. **Sources:** - [BEAM's price defies market trends with multi-month uptrend, but what should traders do?](https://cryptonews.net/news/analytics/33680918/) - [While Bitcoin Was Falling, This Altcoin Surged Over 40 Percent!](https://cryptonews.net/news/altcoins/33678991) - [BEAM (BEAM) Price, Social Sentiment & AltRank](https://lunarcrush.com/en/topic/beam-beam) - [Beam Price, BEAM Price, Live Charts, and Marketcap](https://www.coinbase.com/price/beam) - [Latest Beam (BEAM) News Update](https://coinmarketcap.com/cmc-ai/onbeam/latest-updates/) ## What are the key Beam support and resistance levels today? > **TLDR** > • BEAM trades at $0.005076, above the $0.004629 level analysts flagged as key in late October. > • Token is down 3.43% in 24 hours but up 56.14% over seven days, with a $255.85M market cap. > • Daily RSI hit 78.10 on 30 October, signaling overbought conditions; 50-day EMA sits at $0.002663. > • A daily close above $0.005713 would confirm continuation toward the $0.006000 resistance. > • BEAM broke above the downtrend's lower high at $0.0016 in June, flipping its structure bullish. Beam support and resistance levels are being reset after a rally that carried BEAM past its earlier resistance. At $0.005076, the token sits above the $0.004629 level that analysts flagged as the key test in late October. ## Current Position - BEAM is down 3.43% over 24 hours but up 56.14% over seven days, with a market cap of $255.85M (rank #216). - The 24-hour volume of $118.17M equals about 46% of market cap, which points to heavy turnover during the pullback. ## Key Resistance Levels - **$0.005567:** A daily resistance level cited in late-October chart work, and the nearest overhead level. $0.005567 · Resistance - **$0.005713:** The level that must be broken with sustained buying to confirm a stronger trend reversal. BEAM needs to break above $0.005713 with sustained buying volume to confirm a stronger trend reversal. - **$0.006000:** The highest resistance mapped on the daily chart. $0.006000 · Resistance - **$0.0054 (local high):** The recent high on the 4-hour chart, which the price has already tested. the altcoin went to challenge the $0.0054 local highs. ## Key Support Levels - **$0.004629:** Former resistance that has been reclaimed. A loss of this level would turn it back into the first support. - **$0.00445:** A 4-hour demand zone that held during the last pullback. The first was at $0.00445, which was respected over the past 24 hours as a demand zone - **$0.0038:** The level that BEAM needs to hold above to maintain its current strength. - **$0.002984:** The nearest support on the daily chart as of October 30. The nearest support level is $0.002984. - **$0.001550:** A base where Price spent weeks flat near $0.001550 support, a level where buyers have stepped in before. ## Indicators - **RSI (daily):** The reading was 78.10 on October 30, which is overbought. the analysis acknowledges strong momentum (124.85% over 30 days) but warns of an overbought RSI of 78.10 and heavy whale concentration The pullback since then suggests the reading has cooled. - **Moving averages:** The 50-day EMA was at $0.002663 and keeps rising. The price remains well above it, so the trend structure is bullish. ## Chart Patterns - **Rising channel breakout:** BEAM broke a rising channel, and the $0.004629 resistance test decides if the breakout holds or fails. - **Multi-month uptrend:** In June, BEAM broke above the downtrend's lower high at $0.0016, flipping its structure bullishly. ## Trading Volume Volume spiked during the rally. Gaming sector and ecosystem token Beam [BEAM] has rallied by 45.2% in the last 24 hours, with a 1,115% hike in daily trading volume. The current 24-hour volume remains elevated, so price moves are carrying more weight than usual. ## Outlook - **Short-term (1-hour and 4-hour):** The price is consolidating below the $0.0054 local high. Holding the $0.00445 to $0.004629 band would favor another test of resistance. A close below $0.00445 would point toward the $0.002984 zone. - **Medium-term (daily and weekly):** The uptrend remains intact while the price holds above the 50-day EMA. A daily close above $0.005713 would confirm continuation toward $0.006000. An overbought RSI and extended moving averages leave room for a deeper retracement. **Sources:** - [CoinGabbar: Beam Price Prediction November 2026](https://www.coingabbar.com/en/beam-price-prediction-november-2026) - [CoinMarketCap: Latest Beam News](https://coinmarketcap.com/cmc-ai/onbeam/latest-updates/) - [Edaface: Beam (BEAM) Price Prediction 2026](https://news.edaface.com/2026/10/30/beam-beam-price-prediction-2026-2027-2030/) - [AMBCrypto: BEAM's price defies market trends](https://ambcrypto.com/beams-price-defies-market-trends-with-multi-month-uptrend-but-what-should-traders-do) --- ## More on Beam - [Is Beam a good investment?](https://coinstats.app/ai/a/investment-analysis-beam-2) - [What is Beam crypto?](https://coinstats.app/ai/a/fundamental-analysis-beam-2) --- ## Related Questions - What is the total supply of BEAM tokens currently in circulation after the burn? - How does the 50-day EMA at $0.002663 compare to the current price of $0.005076? - What percentage of BEAM's total supply has been burned cumulatively so far? --- ## Related Coins ### Kite (KITE) - What is the Kite price prediction for 2026-2030? - What is the latest Kite news today? - Why is Kite price up today? - What is the Kite market sentiment today? - What are the key Kite support and resistance levels today? - Is Kite a good investment? - What is Kite crypto? ### Optimism (OP) - Is Optimism (OP) a good investment? - What is Optimism (OP) crypto? - What is the Optimism (OP) price prediction for 2026-2030? - What is the latest Optimism (OP) news today? - Why is Optimism (OP) price down today? - What is the Optimism (OP) market sentiment today? - What are the key Optimism (OP) support and resistance levels today? ### Hyperliquid (HYPE) - What is the Hyperliquid (HYPE) price prediction for 2026-2030? - What is the latest Hyperliquid (HYPE) news today? - Why is Hyperliquid (HYPE) price down today? - What is the Hyperliquid (HYPE) market sentiment today? - What are the key Hyperliquid (HYPE) support and resistance levels today? - Is Hyperliquid (HYPE) a good investment? - What is Hyperliquid (HYPE) crypto? --- *This article was generated by [CoinStats AI](https://coinstats.app/ai)*