• BinaryX recently completed a 1:100 token split to increase its BNX maximum supply from 21 million to 2.1 billion tokens.
• Following the announcement, the old BNX token surged up to 9500%.
• Centralized exchanges 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 to increase its BNX maximum supply from 21 million to 2.1 billion tokens. This was carried out in order to fractionalize the asset and allowing more people access to it.
Prior to the token split event, the old BNX token was trading at roughly $100. However, following the completion of the split, it has surged up to 9590% and currently trading at $134.4, according to CryptoSlate data. The new BNX token traded at a high of $1.46 following the token split and is now trading at $1.27 as of press time with a circulating supply of 2.8 million tokens and market cap of roughly $386 million.
Centralized exchanges such as Binance have ceased trading support for the old BNX but are allowing trading of the new token only in light of these price deviations between both versions of this coin being traded on their platforms respectively .
Optimism From Team
The BinaryX team expressed optimism that this 1:100 ratio token-split will help increase user acceptance and adoption towards their native asset by increasing its economic model incentives and thus providing better liquidity options for their users’ investments within this platform’s ecosystem .
Overall, it appears that Binaryx’s 1: 100 ratio token-split has been successful in significantly increasing its total available supply while simultaneously driving demand for both versions of its coin which has caused exciting price action across centralized exchanges like Binance who have had no choice but to cease support for one version while still allowing trade-offs for another one respectively .