• BinaryX platform completed a 1:100 token split on Feb. 23, increasing their BNX maximum supply from 21 million to 2.1 billion tokens.
• Following the announcement, the old BNX token surged up to 9500%, while the new BNX trades at $1.27.
• Centralized exchanges like Binance have ceased trading support for the old BNX but allow trading of the new token.
BinaryX Completes Token Split
BinaryX recently completed a 1:100 token split for their native BNX token on Feb. 23rd, increasing their maximum supply from 21 million to 2.1 billion tokens.
BNX Price Surge
Following the announcement, the old BNX token surged up to 9500%, while the new BNX trades at $1.27 according to CryptoSlate data. Centralized exchanges like Binance have since then stopped supporting trading of old BNX tokens but allow trading of new tokens instead.
Rationale For Token Split
The Binaryx team expressed optimism that the token split will help increase acceptance of their asset amongst users and also strengthen its economic model in general.
Old vs New Token Prices
Prior to the token split event, old BNX was trading at around $100 and has now surged up to $134 after undergoing a 1:100 split event.. Meanwhile, new BNX traded at a high of $1.46 following its launch on Feb 23rd and is currently down by roughly 9% and is being traded at $1 .27 as per CryptoSlate data .
Overall ,the completed 1 : 100 ratio split by Binaryx proved beneficial as it gave rise to an increased number of traders opting for this particular crypto asset . The team behind it have also noted that this will help increase user acceptance which makes it more likely for this digital asset to gain popularity in time .