BNX Price Tanks 80% on Rumors of BinaryX Team Selling Treasury Tokens
The BinaryX BNX token has fallen by over 50% in the last 24 hours following rumors of its developers selling treasury tokens. Rumors surfaced earlier today that 4 million BNX was being dumped per hour on Binance alone. A crypto trader also asked the BinaryX team to answer questions concerning certain transactions.
All this generated panic within the BinaryX community as many speculated that the sellers were the token developers. Several crypto short sellers have profited from the situation, with many averaging returns of over 300%. Elle, a verified analyst on Tradingview, made over 900% profit, while other traders like 0xRajee also made substantial profits from shorting the token.
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