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What is BinaryX (BNX)?

BinaryX basic info

Name:BinaryX
Ticker:
Introduction:

What Is BinaryX?

BinaryX is a GameFi platform that has made a significant mark in the blockchain gaming industry. The project is known for developing and hosting blockchain-based games that integrate the thrill of gaming with the principles of decentralized finance (DeFi). BinaryX began its journey as a decentralized derivative trading system but quickly adapted to the rising trends of GameFi and the Metaverse, transitioning into a hub for innovative gaming experiences. BinaryX's commitment to leveraging blockchain technology is evident in its popular games like CyberDragon, CyberChess, and CyberLand, all operating on the BNB Chain.

The platform's philosophy extends beyond mere gaming; it fosters an ecosystem where players are integral to the game's economy, reaping benefits from its growth and success. This player-centric approach has been instrumental in BinaryX's rise, offering users genuine ownership, community engagement, and a share in the financial rewards. With the introduction of a Decentralized Autonomous Organization (DAO) system, BinaryX has also empowered its players with decision-making capabilities, further solidifying its position as a leader in the GameFi sector.

Resources

Whitepaper: https://binaryx.pro/whitepaper

Official Website: https://www.binaryx.pro/

How Does BinaryX Work?

BinaryX operates as a dual-function platform, serving both as a developer of blockchain games and as an Initial Game Offering (IGO) launchpad for other game developers. This dual functionality allows BinaryX to not only create its own engaging games but also to support and launch games developed by others. The platform provides a comprehensive service platform to developers, including a robust NFT asset trading platform, a high-speed sidechain optimized for GameFi, and an IGO platform to help new games attract traffic and raise funds.

The platform's native token, BNX, serves as the primary in-game currency and a tool for funding game development. BNX holders can participate in community governance, voting on key decisions, and have access to various community engagement events. BinaryX's commitment to innovation is also evident in its investment in a GameFi sidechain that promises improved transaction speeds, lower gas fees, and interoperability with the BNB Chain main network.

What Is BNX Token?

BNX is the native token of the BinaryX ecosystem. It is used for in-game transactions, as a governance token for DAO voting, and as a reward for community contributions. The BNX token has also been used to fund the development of new gaming projects through the Cyber Incubation Fund, demonstrating BinaryX's commitment to fostering innovation within the GameFi space.

In early 2023, BinaryX had a strategic token split to refine its economic model and lower the barrier to entry, aiming to broaden the adoption of BNX. This decision, backed by a majority of the community through a DAO vote, highlights the platform's dedication to community engagement and transparency. Today, BNX stands as a robust token with a strong performance in the market, underpinning BinaryX's vast array of gaming offerings and community-driven initiatives.

What Determines BinaryX's Price?

The price of BinaryX (BNX) is influenced by a combination of factors that are common to cryptocurrencies operating within the blockchain and GameFi sectors. Market demand is a primary determinant, driven by the popularity and user engagement of BinaryX's blockchain games. As players seek to purchase BNX for in-game transactions, governance participation, or investment in new games launched on the platform, the increased demand can lead to a rise in the token's price. Additionally, the success and virality of games like CyberDragon and CyberChess contribute to the perceived value of BNX, as these flagship titles attract more users to the BinaryX ecosystem.

Another critical factor is the overall sentiment in the cryptocurrency market, which can be swayed by broader economic events, regulatory news, and shifts in investor confidence. BinaryX's price is also responsive to its technological advancements and strategic decisions, such as token splits or updates to the gaming platform. For instance, the token split conducted by BinaryX was a strategic move to enhance its economic model and make the token more accessible, potentially affecting its price by altering the token's supply dynamics.

Furthermore, BinaryX's integration of DeFi elements into its gaming platform, such as staking rewards and the Cyber Incubation Fund, can create additional value for BNX. By offering players and investors various ways to earn returns on their BNX holdings, BinaryX not only incentivizes holding the token but also potentially increases its utility and scarcity. The platform's transparent governance model, which allows BNX holders to vote on key decisions, can also instill confidence in the token's value, as it reflects a community-driven approach to growth and innovation. These elements, combined with the platform's ongoing development and community initiatives, play a significant role in shaping the price trajectory of BNX in the volatile world of cryptocurrency investments.

For those interested in investing or trading BNX, one might wonder: Where to buy BinaryX? You can purchase BinaryX on leading exchanges, such as Bitget, which offers a secure and user-friendly platform for cryptocurrency enthusiasts.

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Current price:
All-time high:$1.84
All-time low:$0.1715

BNX supply and tokenomics

Circulating supply:370,596,380 BNX
Total supply:568,042,205.58 BNX
Max supply:580,000,000 BNX
Market cap:$155.34M
Fully diluted market cap:$243.12M
Tokenomics:

Uniqueness

The developer team on BinaryX aims to redefine what gaming looks like in the GameFi industry. The key focus for BinaryX is to create a sustainable economic model for our games, building upon the existing ecosystem and adding more fun gaming experiences in the space.

As a GameFi platform, BinaryX has made CyberDragon and CyberArena, two top games on the BNB Chain.

In September 2022, BinaryX launched CyberChess, an auto battler strategy game that is inspired by the game Autochess. CyberChess has a firmer structure, greater playability, and the most complete mechanism of any game that BinaryX has ever done, and signifies the transition from play-to-earn, to play-and-earn.

To further add value as a GameFi industry player, BinaryX is in the midst of becoming an IGO platform that provides a comprehensive suite of solutions to incubate, enable, and empower aspiring GameFi developers. This comes in the provision of better and more tailored resources for developers that are facing roadblocks in their project runway. BinaryX has launched its first IGO project — SHIT IGO, with more IGOs to come.

Token utility

BNX is the native token of the project. The current use cases for BNX include:

  • Native Currency: BNX is used as the native in-game currency in every game under the BinaryX GameFi platform.
  • In-game asset: Some key operations of the game require consuming BNX tokens, such as creating heroes in CyberDragon.
  • DAO governance: Each token also represents certain voting rights in BinaryX DAO, allowing stakeholders to engage in the project's development.

Links

Buy BinaryX for $1Buy BNX now

What is the development prospect and future value of BNX?

The market value of BNX currently stands at $155.34M, and its market ranking is #353. The value of BNX is not widely recognized by the market. When the bull market comes, the market value of BNX may have great growth potential.

As a new type of currency with innovative technology and unique use cases, BNX has broad market potential and significant room for development. The distinctiveness and appeal of BNX may attract the interest of specific groups, thereby driving up its market value.

What will the price of BNX be in 2025?
Based on BNX's historical price performance prediction model, the price of BNX is projected to reach $0.6303 in 2025.
What will the price of BNX be in 2030?
In 2030, the BNX price is expected to change by +4.00%. By the end of 2030, the BNX price is projected to reach $1.67, with a cumulative ROI of +283.36%.
Reminder: Just like all cryptocurrency investments, investors must closely monitor the market performance of BNX and be aware of the associated risks. The world of cryptocurrencies is full of uncertainties, so thorough research and preparation are essential.

Is BNX worth investing or holding? How to buy BNX from a crypto exchange?

If you want to buy BNX, the following information may be helpful for your investment decisions:
In the last 7 days, the price of BNX has fallen by -20.04%, leading to negative returns for most BNX investors. The market is currently pessimistic about the price trend of BNX.
It is important to note that the current price of BNX has retreated by -77.16% from its all-time high. This coin is currently considered high-risk, and while its price may rebound in the future, there is significant uncertainty.
Additionally, it's important to understand that each coin has its own optimal times for buying and selling. The optimal time to invest is dynamic: when a coin is undervalued, it's wise to adopt a buying strategy; when it becomes overvalued, you should decisively sell the coin.
To decide whether BNX is worth investing in, you need to consider various market factors such as the overall trend of the cryptocurrency market, the project's fundamentals, its current market valuation, and whether the current price is suitable for buying. If the project's fundamentals suddenly change or the price becomes excessively high, you should adjust your investment strategy and trading operations accordingly.
Your investment decisions should be based on your own risk tolerance, financial status, market analysis and research, especially the timing of your investments. Correct timing can ensure more reliable returns. Keep in mind that investing in BNX or any cryptocurrency comes with certain risks and uncertainties.
Regardless of your outlook on the development prospects and future trends of BNX, if you want to buy or sell BNX, you can consider Bitget for your trading needs. The best place to buy BNX is an exchange that offers hassle-free and secure transactions, combined with a user-friendly interface and high liquidity. Every day, millions of users choose Bitget as their trusted platform for crypto purchases.
Investing in BinaryX has never been easier. Simply sign up on Bitget, complete the identity verification process, and make payments using bank transfers, debit cards, or credit cards, all while ensuring security through crypto wallets. This is a widely adopted method to buy BinaryX. Here's a step-by-step guide on how to buy BinaryX on Bitget.

How to get BinaryX through other methods?

Using cash to buy BinaryX is not the only way to obtain BinaryX. If you have the time to spare, you can get BinaryX for free.
Learn how to earn BinaryX for free through the Learn2Earn promotion.
Earn free BinaryX by inviting friends to join Bitget's Assist2Earn promotion.
Receive free BinaryX airdrops by joining ongoing challenges and promotions.
All crypto airdrops and rewards can be converted to BinaryX through Bitget Convert, Bitget Swap, or spot trading.

What is BinaryX used for and how to use BinaryX?

The use case of BinaryX may expand as the crypto market and the project itself develop. Currently, you can use BNX to achieve the following goals:
Arbitrage by trading BNX: Since BNX is a frequently traded cryptocurrency, the price of BNX is always fluctuating. Earn more BNX by buying low and selling high on the exchange. Bitget spot market provides a variety of BNX trading pairs to fully meet your needs.
Earn by staking BNX: You can also generate income through financial management methods such as staking BNX or lending BNX. Bitget Earn offers a variety of financial products designed to help you earn more income from your BNX.
Send or pay BNX: If you want to give BNX to your friends, a charity, or a fundraiser, or you want to pay someone with BNX, you can quickly and easily send BNX to the recipient through their payment address.
You can also go to the official website of the BinaryX project to learn more about the use cases of BNX. For example, find out if the project supports the use of within its community or ecology, or if the project allows you to purchase physical or virtual products in .

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BNX resources

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BNX price calculator

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BNX
USD
1 BNX = 0.4206 USD
Last updated (UTC-0)
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