SOPH and BEAMX, what are these fast-rising coins really?
$SOPH +56%
What it is: Sophon is an entertainment network, and SOPH is its native token. Its goal is to use blockchain for games and entertainment apps.
Supply: Its maximum supply is 10 billion SOPH. When supply is huge and new tokens keep unlocking, the price can come under pressure.
Past record: After its Binance listing, an airdrop of 900 million tokens pushed the price down more than 33% within 24 hours.
According to one data page, it is 96% below its all-time high. So +56% doesn't mean the coin is safe, because it is rising from a very low level.
$BEAMX (Beam, formerly Merit Circle) +35%
What it is: Beam is a gaming network powered by the Merit Circle DAO, focused on play-to-earn games and the metaverse.
The name issue: The old token was MC. Merit Circle's MC token migrated to BEAM at a 1:100 ratio. A different privacy project with a similar name, Beam, also exists, so check the exact name and contract before buying.
Why did they rise today? I found no clear news behind these jumps. Small coins like these often pump when volume suddenly arrives, and they can fall back just as fast.
Don't put money in when you don't know why a coin is rising.
A jump from a very low level is often just a small bounce.
Exiting small coins can be hard, so only use a small amount.
This is only information, not financial advice.
$SOL
#BEAMX #BinanceSquareTalks #GAINERS #crypto #cryptoeducation
$SOPH +56%
What it is: Sophon is an entertainment network, and SOPH is its native token. Its goal is to use blockchain for games and entertainment apps.
Supply: Its maximum supply is 10 billion SOPH. When supply is huge and new tokens keep unlocking, the price can come under pressure.
Past record: After its Binance listing, an airdrop of 900 million tokens pushed the price down more than 33% within 24 hours.
According to one data page, it is 96% below its all-time high. So +56% doesn't mean the coin is safe, because it is rising from a very low level.
$BEAMX (Beam, formerly Merit Circle) +35%
What it is: Beam is a gaming network powered by the Merit Circle DAO, focused on play-to-earn games and the metaverse.
The name issue: The old token was MC. Merit Circle's MC token migrated to BEAM at a 1:100 ratio. A different privacy project with a similar name, Beam, also exists, so check the exact name and contract before buying.
Why did they rise today? I found no clear news behind these jumps. Small coins like these often pump when volume suddenly arrives, and they can fall back just as fast.
Don't put money in when you don't know why a coin is rising.
A jump from a very low level is often just a small bounce.
Exiting small coins can be hard, so only use a small amount.
This is only information, not financial advice.
$SOL
#BEAMX #BinanceSquareTalks #GAINERS #crypto #cryptoeducation
