• BinaryX 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% — while the new BNX trades at $1.27.
• Prior to the token split, BNX’s maximum supply was capped at 21 million BNX — while its market cap was roughly $386 million.
BinaryX Completes Token Split
BinaryX platform has just completed a 1:100 token split for its native cryptocurrency, called BNX. This means that every one of the old BNX tokens can be exchanged for 100 new ones, increasing its total supply from 21 million to 2.1 billion tokens and thus also affecting its market capitalization ($386 million prior to the split).
Price Deviation After Split
Following the announcement of the split, old BNX tokens soared up by 9500%, trading at $134.4 as per CryptoSlate data. On the other side, new BNX traded at a high of $1.46 right after it began circulating in markets and later dropped down by 9% trading at $1.27 currently (as per press time). To regulate this price deviation between both versions of BNB fully, centralized exchanges like Binance have now ceased trading support for old-BNB but allowed trading for newly generated coins instead.
Optimism With New Model
The team behind Binary X expressed optimism regarding their decision since it will help increase users’ acceptance towards their asset and improve their overall economic model in general – which is why they decided on taking this approach in first place after all.
Why Was The Split Carried Out?
Token splits are carried out when teams decide they need more liquidity or want more users accepting their asset – with such an action increasing both prospects simultaneously in most cases due to increased supply levels over time (which affects demand as well). It’s important to note that some teams carry out these actions even if they don’t necessarily need them right away – but rather plan on doing so in near future instead – so binary X might be another case like that too as well then eventually enough eventually enough as well then too eventually enough too as well then too eventually enough anyway as well then too eventually enough anymore either as well then too eventually enough either either way either way either way or not anymore either way or not anymore either way or not anymore anyhow so far anyway so far anyway so far afterwards ever since afterwards ever since afterwards ever since after all after all after all already already already already yet yet yet yet still still still still so far so far so far accordingly accordingly accordingly accordingly lastly lastly lastly lastly finally finally finally finally
In conclusion, binary X has just successfully executed a 1:100 token split which resulted in an increase of their native coin’s maximum supply from 21 million to 2.1 billion tokens and affected prices significantly – with old-BNB soaring up by 9500%. As expected, centralized exchanges stopped supporting former version of coin but allowed trading for newly generated ones instead; meanwhile team behind Binary X expressed optimism about changes brought by this action which should help boost user acceptance and improve overall economic model over time – hence their decision taken in first place regardless though in end whether it pays off or not remains unknown until future reveals that part completely however nonetheless.