BinaryX token surges over 9000% following BNX split
Gamefi platform BinaryX accomplished the break up of its native BNX token on Feb. 23.
Following the announcement, the previous BNX token surged as much as 9500% — whereas the brand new BNX trades at $1.27, in accordance with CryptoSlate information.
BNX 1:100 token break up
Token break up is carried out to extend the overall provide of a token by fractionalizing the asset. Within the case of BNX, the token break up was carried out on a 1:100 ratio — which means that 1 previous BNX will be exchanged for 100 new BNX.
Previous to the token break up, BNX’s maximum supply was capped at 21 million BNX — whereas its market cap was roughly $386 million.
Following the token break up on Feb. 23, BNX’s most provide has elevated to 2.1 billion, with a circulating provide of two.8 million BNX.
The BinaryX crew expressed optimism that the token break up will assist enhance BNX’s financial mannequin and enhance new customers’ acceptance of the token.
Worth deviation
Previous to the token break up occasion, the previous BNX token was buying and selling at roughly $100. Nevertheless, the previous BNX has surged as much as 9590% and presently buying and selling at $134.4, in accordance with CryptoSlate information.
In the meantime, the brand new BNX token traded at a excessive of $1.46 following the token break up. As of press time, it has declined by roughly 9% to commerce at $1.27.
In mild of the worth deviations, centralized exchanges like Binance have ceased buying and selling assist for the previous BNX however enable buying and selling of the brand new token.
