BinaryX Price BNX Price, USD converter, Charts

Despite the bear market conditions, the BNX token has been one of the best-performing digital assets in the current year. Wu Blockchain reported that BNX rose more than ten times in this year’s bear market. For context, Bitcoin and Ethereum fell by over 50% over the same time frame.

  • The BSC network is secured by a delighted proof-of-stake consensus algorithm.
  • These tokens are gathered by fighting through dungeons or “daily mining”.
  • For currencies that are negatively correlated with BinaryX, a move in one direction for BinaryX would translate into a move in the opposite direction for the negatively correlated coin.

Let’s use a 1-hour candlestick chart as an example of how this type of price chart gives us information about opening and closing prices. The chart is divided into “candles” that give us information about BinaryX’s price action in 1-hour chunks. Each candlestick will display BNX’s opening price, closing price, as well as the highest and lowest prices that BinaryX reached within the 1-hour period. The BinaryX price prediction on CoinCodex is calculated using the historical BinaryX price dataset, accounting for past volatility and market movements.

BinaryX Price (BNX INR) Today

50-day, 100-day and 200-day moving averages are among the most commonly used indicators in the crypto market to identify important resistance and support levels. If the BNX price moves above any of these averages, it is generally seen as a bullish sign for BinaryX. Conversely, a drop below an important moving average is usually a sign of weakness in the BNX market. The RSI (Relative Strength Index) is a very popular technical indicator used to analyze prices of a variety of assets, including BinaryX. The readings produced by the RSI indicator range from 0 to 100, with 30 and 70 being important levels.

  • This ensures that the BinaryX community gains early access to these innovative games.
  • The primary focus of BinaryX is on launching games that show players how Web3 gaming can compete with the traditional gaming scene.
  • Wu Blockchain reported that BNX rose more than ten times in this year’s bear market.
  • The 50-day SMA is calculated by adding together Bitcoin’s closing prices in the last 50 days, and dividing the total by 50.

For example, a 12-day simple moving average for BNX is a sum of BNX’s closing prices over the last 12 days which is then divided by 12. Similar to the first generation of cryptocurrency, Bitcoin, the developers of the binary platform are also anonymous. However, during an interview with Binance, the founders revealed that they were a team of professionals in technology https://topbitcoinnews.org/stellar-price-chart-market-cap-index-and-news/ with years of experience across several fields including blockchain technology. Based on the details of the interview, the team appears to be based in China. Just like with any other asset, the price action of BinaryX is driven by supply and demand. These dynamics can be influenced by fundamental events such as block reward halvings, hard forks or new protocol updates.

In the game, players can recruit hero characters, improve the levels of their heroes, collect rare equipment, and challenge dungeons. The ultimate challenge is to defeat the CyberDragon, the ultimate boss. By defeating the dragon, players can receive rewards from the dragon’s treasure chamber. In addition to the simple moving average (SMA), traders also use another type of moving average called the exponential moving average (EMA). The EMA gives more weight to more recent prices, and therefore reacts more quickly to recent price action.

What Is the Unique Point of BinaryX (BNX)?

Meanwhile, due to the level of FUD surrounding the BNX token, liquidity providers on Pancakeswap have exited their positions. King Crypto predicted that holders of the metaverse-related token might face more pain as two whales have withdrawn over 20,000 BNX (over $2 million) tokens to sell. All this generated panic within the BinaryX community as many speculated that the sellers were the token developers.

Binance Has Completed the BinaryX (BNX) Token Swap and Redenomination Plan Binance Support

This feature allows users to have a say in the platform’s development direction, increasing their engagement and participation. Moreover, by holding BNX tokens, users are incentivized to become actively involved in BinaryX platform https://currency-trading.org/cryptocurrencies/fortune-teller-challenge-coin/ governance, with DAO participants receiving corresponding rewards. $BNX is the platform cryptocurrency token of BinaryX, a GameFi and Initial Game Offering (IGO) platform dedicated to the development of games in the Metaverse.

What is the current BinaryX sentiment?

Additionally, the team plans to launch CyberLand in the near future, which is their most ambitious project. CyberLand will include a massive metaverse environment where players roam a medieval fantasy world with heroes, magic, monsters, and many in-game quests. https://coinbreakingnews.info/technical-analysis/best-indicators-for-cryptocurrency-cfds/ In fact, NFTs are one of the core elements of blockchain gaming, and BinaryX leverages their popularity by including NFTs in the gaming mechanics of its projects. The maximum amount of coins that will ever exist in the lifetime of the cryptocurrency.

In the table below you can find two types of moving averages, simple moving average (SMA) and exponential moving average (EMA). The BinaryX platform is the support system of the Binance Smart Chain-based game known as CyberDragon. The game is a play-to-earn system where users can earn real tokens which hold real-world value from paying the game. Presently, the binary platform is working on developing its metaverse game which is known as CyberDragon. The game features a classic MMORPG system with a collection of DeFi properties. For instance, the game props used as its derivatives are majorly NFTs, and it allows the players to select from a variety of gameplay modes including PvP and PvE.

What affects the price of BinaryX?

Currently, the RSI value is at 49.72, which indicates that the BNX market is in a neutral position. If you are new to crypto, use the Crypto.com University and our Help Center to learn how to start buying Bitcoin, Ethereum, and other cryptocurrencies. Cryptocurrency markets kicked off the week with a burst of volatility, impacting major players like Bitcoin (BTC), Ether (ETH), and Solana (SOL).

In a groundbreaking move, BinaryX collaborated with AiGC Labs to unveil the first-ever AI-powered VR hack-and-slash game on the Metaverse, setting new standards for immersive gaming experiences. The table above shows the number of days which BinaryX closed above a certain price level. BinaryX price in US Dollar has increased by 2.41% in the last 1 month. BNX is down -5.05% against Ethereum and down -12.03% against Bitcoin in the last 1 month. BinaryX’s current circulating supply is 3.93M BNX out of max supply of 21.00M BNX. The current yearly supply inflation rate is 41.03% meaning 1.14M BNX were created in the last year.

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