What is BinaryX ($BNX)? BinaryX ($BNX) is a cryptocurrency platform within the BinaryX ecosystem, which includes DAOs and web3 game platforms that use $BNX. BinaryX was founded on GameFi's growing popularity and interest in metaverse games. $BNX (BinaryX) is the GameFi platform that offers IGO services. 

BNX has a maximum supply of 21,000,000 and a circulation of 2,784,892 or about 13% of the maximum supply. BNX currently still has a lot of circulating supply which causes BNX to still have a long way to go. 

What is IGO ??

IGO stands for Initial Gaming Offer, which is used by gaming projects to raise funds in the crypto world. IGO is the same as ICO (initial currency offering), IDO (initial DEX offer) and IEO (initial exchange offer). All of them function to raise funds, but what distinguishes them is the subject who collects these funds. With the emergence of blockchain games, IGO is becoming a big thing. Games like Axie Infinity (AXS), CryptoBlades (SKILL), and Alien Worlds (TLM) have thousands of daily active users.

BNX dumps almost 70%

BNX experienced a huge dump starting on November 25, 2022 from its all time high price of $169 to $63. BNX had made an unexpected move against the cryptocurrency (bear) market trend. No internal or external problems were found with BNX, even in the Twitter community the BinaryX ($BNX) team provided an explanation.

Token Distribution

Of the total token distribution, Team BinaryX holds a total of approximately 65% (marketing, research & development, and product operation costs) of the total token supply. The number of 65% is a fairly large figure for a one-party monopoly. The possibility is that BinaryX ($BNX) might have a sale on their token.

Technical analysis Technically the price of BinaryX ($BNX) has touched bottom support. It is possible that there will be a bounce at the last support, if the support has been exhausted then the price will fall deeper. (This is only technical analysis)