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Coins Wiki: $BNX BinaryX

In a groundbreaking move, BinaryX collaborated with AiGC Labs to unveil the first-ever AI-powered VR hack-and-slash game on the Metaverse, setting new standards for immersive gaming experiences. The table above shows the number of days which BinaryX closed above a certain price level. BinaryX price in US Dollar has increased by 2.41% in the last 1 month. BNX is down -5.05% against Ethereum and down -12.03% against Bitcoin in the last 1 month. BinaryX’s current circulating supply is 3.93M BNX out of max supply of 21.00M BNX. The current yearly supply inflation rate is 41.03% meaning 1.14M BNX were created in the last year.

Despite the bear market conditions, the BNX token has been one of the best-performing digital assets in the current year. Wu Blockchain reported that BNX rose more than ten times in this year’s bear market. For context, Bitcoin and Ethereum fell by over 50% over the same time frame.

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In the game, players can recruit hero characters, improve the levels of their heroes, collect rare equipment, and challenge dungeons. The ultimate challenge is to defeat the CyberDragon, the ultimate boss. By defeating the dragon, players can receive rewards from the dragon’s treasure chamber. In addition to the simple moving average (SMA), traders also use another type of moving average called the exponential moving average (EMA). The EMA gives more weight to more recent prices, and therefore reacts more quickly to recent price action.

  • BinaryX’s price today is US$0.2966, with a 24-hour trading volume of $131,164.
  • Hot wallets are easy and convenient to use, however, they come with several drawbacks.
  • The BinaryX platform is a multi-token economic system where players can explore dungeons and earn daily work income.
  • There’s no way to mine BNX because the whole coin supply has been pre-mined by the BnaryX team.

CyberDragon requires users to buy a hero NFT and battle through dungeons against different monsters and main bosses to win the grand prize and upgrade their hero. As for CyberChess, it’s a chess-like player versus player or player versus environment game with strategic battle elements. The founding team of BinaryX has extensive experience in the blockchain industry, traditional game development and game publishing. The core team members are from Silicon Valley and participated in the development of the early BNB Chain and Polkadot chain, and have made outstanding contributions to the development of the industry. Unknown teams like Binary X are not uncommon in cryptocurrency; some of the industry’s brightest and most trusted developers have also decided to stay anonymous. The developers tweeted that they would buy back the token soon and are working on a detailed plan.

BinaryX Team Will Buy Back Token, Refutes Selling Rumor

For example, a 12-day simple moving average for BNX is a sum of BNX’s closing prices over the last 12 days which is then divided by 12. Similar to the first generation of cryptocurrency, Bitcoin, the developers of the binary platform are also anonymous. However, during an interview with Binance, the founders revealed that they were a team of professionals in technology with years of experience across several fields including blockchain technology. Based on the details of the interview, the team appears to be based in China. Just like with any other asset, the price action of BinaryX is driven by supply and demand. These dynamics can be influenced by fundamental events such as block reward halvings, hard forks or new protocol updates.

An RSI reading under 30 indicates that the asset is currently undervalued, while an RSI reading above 70 indicates that the asset is currently overvalued. BinaryX achieves a low risk analysis based on InvestorsObserver research. The proprietary system gauges how much a token can be manipulated by analyzing much money it took to shift its price over the last 24 hour period along with analysis of recent changes in volume and market cap. The gauge is between 0 and 100 with lower scores equating to higher risk while higher values represent lower risk.

Additionally, the team plans to launch CyberLand in the near future, which is their most ambitious project. CyberLand will include a massive metaverse environment where players roam a medieval fantasy world with heroes, magic, monsters, and many in-game quests. In fact, NFTs are one of the core elements of blockchain gaming, and BinaryX leverages their popularity by including NFTs in the gaming mechanics of its projects. The maximum amount of coins that will ever exist in the lifetime of the cryptocurrency.

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Meanwhile, due to the level of FUD surrounding the BNX token, liquidity providers on Pancakeswap have exited their positions. King Crypto predicted that holders of the metaverse-related token might face more pain as two whales have withdrawn over 20,000 BNX (over $2 million) tokens to sell. All this generated panic within the BinaryX community as many speculated that the sellers were the token developers.

What is the BinaryX price prediction for 2024?

Let’s use a 1-hour candlestick chart as an example of how this type of price chart gives us information about opening and closing prices. The chart is divided into “candles” that give us information about BinaryX’s price action in 1-hour chunks. Each candlestick will display BNX’s opening price, closing price, as well as the highest and lowest prices that BinaryX reached within the 1-hour period. The BinaryX price prediction on CoinCodex is calculated using the historical BinaryX price dataset, accounting for past volatility and market movements.

What affects the price of BinaryX?

Apart from their new game, BinaryX is working on developing partnerships with third-party blockchain game developers. It will be interesting to see how the game will look and work in practice since the preview looks like CyberLand aims to compete with large-scale metaverse projects like Decentraland and The Sandbox. There’s nothing controversial about the project except that the developer team is anonymous, which some crypto enthusiasts consider a red flag. However, the BinaryX team has delivered on all of their promises so far and has proved to be reliable. BinaryX has its own NFT marketplace where users can buy and sell NFTs that are part of BinaryX games.

You may have heard of Gala Games, Vulcan Forged PYR…and all other coins that have a 100x potential, but what about BinaryX Token ($BNX)? In the crypto subspace of GameFi/NFT coins, BinaryX sits at a lovely spot. Elle, a verified analyst on Tradingview, made over 900% profit, while other traders like 0xRajee also made substantial profits from shorting the token.

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