The Price of Binance-Backed Altcoin Crashed: The Team Makes a Statement!

A blockchain game invested by Binance Labs BinaryX Token (BNX) altcoin, It has dropped from its high of $175 over the past ten days and has lost more than 50% in the past 24 hours.

A large number of users have exited Pancakeswap’s BNX LP trading pair in the last 24 hours. Among the claims that sales were made by the developers.

BNX Altcoin Developer Team Released

However, a statement on the subject was also published from the Binarxy Token (BNX) altcoin Twitter official account:

“There are rumors about our projects, so we are here to clarify:

Not a single $BNX has been sold from our team and all our projects are running smoothly.

Our team will be repurchasing $BNX altcoins soon and is currently working on a detailed plan.

We have never sold $BNX.”

The price of BinaryX, a very popular Blockchain gaming platform, is trading at $ 68 at the time of this writing. With this cryptocurrency It has lost 46.37% value in the last 24 hours.

Graph showing the price change of the BNX token in the last 3 months.

The total market value of the BNX ecosystem is around $190 million at the time of writing, according to CoinMarketCap data.

Although Binance Labs supports the project, the developers behind BinaryX are anonymous. However, during an interview with Binance, they revealed that they are a team of international backgrounds and a number of top blockchain experts.

In September 2022, BinaryX released CyberChess, an auto warrior strategy game inspired by the game Autochess.

*Not investment advice.

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