Thus, in the context of constant development of the cryptocurrency market, BinaryX (BNX) has become one of the leaders in terms of growth rates and interest from the crypto community. With a 3. But in the last 24 hours, there has been a 94% rise and BNX is now trading at $1. 53, and maintains its place among the leaders of the market performers.
This upward trajectory has not gone unnoticed as evident from the trading volume which has risen by a staggering 119%. 32% to reach $10,855,417. An increase in trading activity by this much usually indicates that more and more people are developing interest as well as confidence in a project.
The total market capitalization of BinaryX is $570,247,584 making it the 99 th largest cryptocurrency in terms of this capitalization. This is a feat made possible in the crypto industry, which is quite saturated with thousands of projects competing for attention and funding.
The changes in the project from a decentralized derivatives trading platform to a full-fledged GameFi allowed it to achieve recent success. Thus, by targeting the gap between the regular game developers and the blockchain industry, BinaryX is placed in front of the pack in the promising and developing niche.
Other aspects of the token’s economic model can be derived from the token supply metrics. BNX has a total circulating supply of 373,751,169 BNX which makes it 64% of the total tokens in existence. 44% of the total supply and a maximum supply of 580,000,000 BNX, the distribution is just right for the project’s need to be easily accessible while at the same time being rare.
This supply structure when multiplied by the current price gives a fully diluted market cap of $884,929,938 which suggests the market’s optimistic outlook of BinaryX. Looking at the future of the GameFi and the rest of the crypto space, BinaryX’s recent performance indicates that it is prepared to seize new opportunities and keep on climbing the ladder.
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