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BinaryX Price Prediction 2024: BNX Price Analysis

Published July 10, 2024 8:39 AM
Giuseppe Ciccomascolo
Published July 10, 2024 8:39 AM

Key Takeaways

  • BinaryX has launched its BNX token in February 2023.
  • It has recently been on a rollercoaster ride and is down from the all-time high it hit soon after its launch.
  • Our BinaryX price prediction says BNX could reach $60.80 in 2025.

After one year and a half from its launch, BinaryX’s BNX token is still struggling to reach its all-time high, hit soon after its debut on the public market.

While it looked close to reach it again, the news  of the Pancake Mayor game that ceased operations on July 5 hit the token, bringing it back to $1.18 on July 10, 2024, far from the all-time high of $1.55.

BinaryX did not respond to a request for comment.

Let’s take a look at our BinaryX price predictions, made on July 10, 2024. We will also examine the BinaryX price history and talk a little about what BinaryX is and what it does.

BinaryX Price Prediction

Let’s examine some of the BinaryX price predictions CCN.com made on July 10, 2024. It is crucial to bear in mind that price forecasts, particularly for a potentially volatile asset like cryptocurrency, often turn out to be inaccurate.

Minimum BNX Price Prediction Average BNX Price Prediction Maximum BNX Price Prediction
2024 $1.05 $2.42 $2.58
2025 $2.52 $2.82 $3.05
2030 $7.93 $8.67 $8.71

BinaryX Price Prediction for 2024

If the positive momentum continues and BNX breaks above its moving averages, it could reach targets between $1.05 and $2.58 by the end of 2024, with the average price set at $2.42.

BinaryX Price Prediction for 2025

Technical analysis suggests a potential increase for BinaryX in 2025. The minimum BNX price expected for 2025 is $2.52 while the maximum one is $3.05. On the other hand, the average forecast suggests it may reach $2.82.

BinaryX Price Prediction for 2030

Based on technical analysis, the BNX token may reach a maximum level of $8.71 at the beginning of the next decade, while, in the worst scenario, it may go to $7.93. Meanwhile, the average expected price is $8.67.

BinaryX Price Analysis

BinaryX technical analysis
BinaryX technical analysis. l Source: Giuseppe Fabio Ciccomascolo/TradingView

BNX has broken through a key support level at $1 and is now rallying firmly towards the next target of $1.87. This bullish surge is backed by significant trading volume, which indicates strong buying pressure behind the coin.

The positive momentum for BNX coincides with a continued bullish outlook for Bitcoin, which further strengthens the case for BNX’s potential growth.

It’s worth noting that the previous rally for BNX yielded impressive gains of 480%, highlighting its potential for explosive price increases.

Short Term BinaryX Price Prediction

The BinaryX price prediction for the next 24 hours paints a promising picture, with a potential surge of 6% followed by a 231% rise by August 9, 2024, reaching $3.93.

However, it’s important to look beyond the headline number. Technical indicators currently show a neutral sentiment, and the broader market reflects fear with a Fear & Greed Index of 28. This could potentially hinder the predicted price jump.

On a brighter note, BinaryX has experienced a healthy balance in the last 30 days, with 15 green days (50%) and moderate price volatility of 11.16%. This stability suggests potential for sustained growth.

BinaryX Fear & Greed Index

Fear and greed indicator
Fear and greed indicator. l Source: BitDegree

The Fear & Greed Index measures the market sentiment on a scale from 0 (Extreme Fear) to 100 (Extreme Greed). It aggregates factors such as volatility, market momentum/volume, social media activity, dominance, and trends to provide a sentiment overview. Extreme fear can suggest investors are overly worried, potentially presenting a buying opportunity, whereas extreme greed indicates excessive bullishness, often signaling an imminent market correction. On July 9, 2024, the BinaryX Fear & Greed Index Measured 28, suggesting it’s in a fear zone, while the indicator for the wider crypto world is at 50, reflecting a Neutral view.

BinaryX Relative Strength Index (RSI): Is BNX Oversold or Undersold?

BinaryX RSI
BinaryX RSI. l Source: Giuseppe Fabio Ciccomascolo/TradingView
The Relative Strength Index (RSI) is a momentum indicator traders use to determine whether an asset is overbought or oversold. Movements above and below the 50 line also indicate if the trend is bullish or bearish. On July 10, 2024, the BinaryX RSI was at 44, indicating a moderate bullish sentiment.

BinaryX Price Performance Comparisons

Current Price One Year Ago Price Change
BinaryX $1.18 $0.2427 -4.8%
Immutable $1.30 $0.6958 +90%
Decentraland $0.3156 $0.3915 -15%
BNB $523.18 $248.5381 -125%

Best Days and Months to Buy BinaryX

We took a look at the BinaryX price history and found the times when the price was at its lowest across certain days, months, quarters and even weeks in the year, indicating the best times to buy BNX.

Day of the Week Tuesday
Week 21
Month April
Quarter Fourth

BinaryX Price History

Following that, let’s now take a look at some of the key dates in the BinaryX price history  . While past performance should never be taken as an indicator of future results, knowing what the coin has done can help give us some very useful context when it comes to either making or interpreting a BinaryX price prediction.

BinaryX price history
BinaryX price in 2023 and 2024. | Credit: CoinMarketCap

 

Time period BinaryX price
Last week (July 3, 2024) $1.0088
Last month (June 10, 2024) $1.2033
Three months ago (April 10, 2024) $0.6672
One year ago (July 10, 2023) $0.2427
Launch price (February 24, 2023) $1.3598
All-time high (February 25, 2023) $1.5560
All-time low (September 4, 2023) $0.1887

BinaryX Market Cap

BinaryX market cap history
BinaryX market cap in 2023 and 2024. | Credit: CoinMarketCap

The market capitalization, or market cap, is the sum of the total number of BNX in circulation multiplied by its price. On July 10, 2024, BinaryX’s market cap was $430.7 million, making it the 129th-largest crypto by that metric.

Who Owns the Most BinaryX (BNX)?

On July 10, 2024, one wallet held 89.26% of the supply of BinaryX.

Richest BNX Wallet Addresses

As of July 10, 2024, the five richest BinaryX wallet addresses were

  • 0x000000000000000000000000000000000000dead. This wallet held 5,663,645 BNX, or 89.26% of the supply.
  • 0xb9becac4c8f3dc031964ecdfd4467af7b59df007. This wallet held 187,539 BNX, or 2.96% of the supply.
  • 0x7cf87ad179c532bb8e4026f36057c20f537921d5. This wallet held 179,544 BNX, or 2.83% of the supply.
  • 0xf9bd6adc6495cd643949ed9cd3353cdc43e5918f. This wallet held 81,000 BNX, or 1.28% of the supply.
  • 0x010bbc9112041d65793686d50bebde5d38b4fa5d. This wallet held 46,365 BNX, or 0.73% of the supply.

BinaryX Supply and Distribution

Supply and distribution Figures
Maximum supply 2,100,000,000
Circulating supply (as of July 10, 2024) 368,759,952 (17.6% of maximum supply)
Holder distribution Top 10 holders owned 97% of maximum supply as of July 10, 2024

From the Whitepaper

In its technical documentation or whitepaper , BinaryX says it is “a crypto game platform listed on Binance and Gate.io. Currently, BinaryX is running a game called CyberDragon which we have developed from scratch. It is a large on-chain online game platform on BNB Chain.

BinaryX (BNX) Explained

BinaryX began as a decentralized derivative trading system. Recognizing the burgeoning popularity of GameFi and interest in the metaverse games, the team gradually evolved into developing decentralized video games and is now fully transitioning to be a GameFi platform offering IGO services to bridge Web2 developers to Web3.

Some of the services provided by BinaryX include infrastructural support, a DAO governance system, and community building to scale promising Gamefi projects and bring more innovation to the blockchain gaming sector.

How BNX Works

BNX is the native in-game currency that powers all the games on the BinaryX ecosystem, including CyberDragon, CyberChess and CyberLand. $BNX may also be used as an in-game token for some of our future IGO projects as well..

Is BinaryX a Good Investment?

It is hard to say. The coin has been around for more than one year now, but its price is far from its all-time high, which it hit only one day after its launch and never reached again.

As ever with crypto, you will need to make sure you do your own research before deciding whether or not to invest in BinaryX.

Will BinaryX go up or down?

No one can really tell right now. While the BinaryX crypto price predictions are largely positive, price predictions have a well-earned reputation for being wrong. Keep in mind, too, that prices can, and do, go down as well as up. 

Should I invest in BinaryX?

Before you decide whether or not to invest in BinaryX, you will have to do your own research, not only on BNX, but on other, related, coins and tokens such as Ethereum (ETH) and Solana (SOL). Either way, you will also need to make sure that you never invest more money than you can afford to lose.

FAQs

How many BinaryX are there?

As of July 10, 2024, there are 368.8 million BinaryX, out of a maximum supply of 2.10 billion.

Will BNX reach $10?

It seems possible only in the next decade.

Keep in mind that BinaryX’s all-time high was at $1.5560 soon after its launch, really far from a double-figure leve.

What is BinaryX used for?

Some of the services provided by BinaryX include infrastructural support, a DAO governance system, and community building to scale promising Gamefi projects and bring more innovation to the blockchain gaming sector.

Disclaimer

Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.

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