{"id":302524,"date":"2023-02-24T08:35:10","date_gmt":"2023-02-24T08:35:10","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=302524"},"modified":"2023-02-24T16:14:30","modified_gmt":"2023-02-24T16:14:30","slug":"binaryx-token-surge-over-9000-following-bnx-split","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/binaryx-token-surge-over-9000-following-bnx-split\/","title":{"rendered":"BinaryX token surges over 9000% following BNX split"},"content":{"rendered":"<p>Gamefi platform BinaryX <a href=\"https:\/\/cryptoslate.com\/press-releases\/bnx-to-undergo-1100-split-to-give-major-boost-of-investor-confidence-for-binaryx-games-and-products\/\">completed<\/a> the split of its native <a href=\"https:\/\/cryptoslate.com\/coins\/binaryx\/\">BNX<\/a> token on Feb. 23.<\/p>\n<p>Following the announcement, the old BNX token surged up to 9500% \u2014 while the new BNX trades at $1.27, according to CryptoSlate <a href=\"https:\/\/cryptoslate.com\/coins\/binaryx\/\">data.<\/a><\/p>\n<h2>BNX 1:100 token split<\/h2>\n<p>Token split is carried out to increase the total supply of a token by fractionalizing the asset. In the case of BNX, the <a href=\"https:\/\/cryptoslate.com\/press-releases\/bnx-to-undergo-1100-split-to-give-major-boost-of-investor-confidence-for-binaryx-games-and-products\/\">token split<\/a> was carried out on a 1:100 ratio \u2014 meaning that 1 old BNX can be exchanged for 100 new BNX.<\/p>\n<p>Prior to the token split, BNX's <a href=\"https:\/\/coinmarketcap.com\/currencies\/binaryx\/\">maximum supply<\/a> was capped at 21 million BNX \u2014 while its market cap was roughly $386 million.<\/p>\n<p>Following the token split on Feb. 23, BNX's maximum supply has increased to <a href=\"https:\/\/coinmarketcap.com\/currencies\/binaryx-new\/\">2.1 billion,<\/a> with a circulating supply of 2.8 million BNX.<\/p>\n<p>The BinaryX team expressed optimism that the token split will help increase BNX's economic model and increase new users' acceptance of the token.<\/p>\n<h2>Price deviation<\/h2>\n<p>Prior to the token split event, the old BNX token was trading at roughly $100. However, the old BNX has surged up to 9590% and currently trading at $134.4, according to CryptoSlate <a href=\"https:\/\/cryptoslate.com\/coins\/binaryx\/\">data.<\/a><\/p>\n<p>Meanwhile, the new BNX token traded at a high of $1.46 following the token split. As of press time, it has declined by roughly 9% to trade at $1.27.<\/p>\n<p>In light of the price deviations, centralized exchanges like Binance have ceased trading support for the old BNX but allow trading of the new token.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gamefi platform BinaryX completed the split of its native BNX token on Feb. 23. Following the announcement, the old BNX token surged up to 9500% \u2014 while the new BNX trades at $1.27, according to CryptoSlate data. BNX 1:100 token split Token split is carried out to increase the total supply of a token by [&hellip;]<\/p>\n","protected":false},"author":1378,"featured_media":302527,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[76736,6849],"tags":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>BinaryX token surges over 9000% following BNX split<\/title>\n<meta name=\"description\" content=\"BinaryX completed a 1:100 token split to increase its BNX maximum supply from 21 million to 2.1 billion tokens.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/binaryx-token-surge-over-9000-following-bnx-split\/\" \/>\n<meta property=\"og:locale\" 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