BinaryX token surges over 9000% following BNX split
Gamefi platform BinaryX completed the split of its native BNX token on Feb. 23. Token split is carried out to increase the total supply of a token by fractionalizing the asset. In the case of BNX, the token split was carried out on a 1:100 ratio — meaning that 1 old BNX can be exchanged for 100 new BNX.
The BinaryX team expressed optimism that the token split will help increase BNX’s economic model and increase new users’ acceptance of the token. Following the token split on Feb. 23, BNX’s maximum supply has increased to 2.1 billion, with a circulating supply of 2.8 million BNX. 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 data. Meanwhile, the new BNX token traded at a high of $1.46 following the token split.
Source
@CryptoWorldAnalysis
