Cryptocurrency project BinaryX (BNX) altcoin After the “buyback fund” statement he made on his Twitter account, there was an immediate concern among users.
Users Blame the BinaryX Altcoin Team
Users claimed that before the developers dumped a large amount of altcoins, they provided information about the buyback to increase the price.
When the graph is examined, it is seen that the price of the coin, which was around $65 before the announcement of the altcoin team, climbed to $69 with the buyback announcement, and then fell to $57 with a big dump.
The BNX token came to the fore after experiencing a big drop again a short time ago, and the project team made a statement again.
Many users have accused the BinaryX team of manipulating the price of the coin by informing about the buyback to increase the value of the altcoin before selling a large amount.
💖 Keeping trust in $BNX and we will not let you down.
💫The buyback fund is in Binance as promised.
🔥We are READY!🔗tx id： 0x05f06b9ea4e8489701cda250a3edcac7f8c8195343b89479525274b23a7873af
🎈More info will be updated in @binary_xset reminder and stay tuned.
— BinaryX (@binary_x) January 6, 2023
The sudden drop in the price of BNX caused many users to sell their holdings, causing the altcoin to drop further in value. This sparked a heated debate among the cryptocurrency community; some accused the BinaryX team of unethical behavior, while others just defended their actions as a good business strategy.
The aforementioned announcement of the BinaryX altcoin team was as follows:
“Continue to trust BNX and we will not let you down.
The buyback fund is on Binance as promised.
We are ready!”
*Not investment advice.
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