New projects that have emerged in the decentralized space of the cryptocurrency world are usually based on the Ethereum blockchain network and provide the possibility of making money through gaming. The BinaryX project, whose native token is the BNX currency , is one of these projects designed with the help of Ethereum and the Binance smart chain. In order to explain what the BNX project is, we must first have an overview of the capabilities of the BinaryX network and then how it works. In this article from Valx, we are going to review the BNX digital currency project and highlight its other outstanding features.
What makes the BinaryX project popular among users of the digital currency world is the possibilities it offers for greater freedom of action for traders. For example, participants in the activities of this network can provide their digital assets to automated market makers (AMM) to maintain liquidity and increase the rate of return; But how exactly does this mechanism work? Join us.
What is the BNX digital currency project ?
BinaryX project is specially designed for CyberDragon game . The Cyber Dragon game is a play to earn game or p2e for short, which was created with the aim of earning money through the game in the blockchain environment and runs in the Binance Smart Chain (BSC) environment. The BinaryX project, whose native token is called BNX , was initially a decentralized derivatives trading protocol. Now and with the passage of time, the concept of this project has been fundamentally changed to be more compatible with the GameFi entertainment industry .
According to the statement provided by the BinaryX platform, the main vision of this project is to become an innovative and leading platform that has no competitors in the GameFi world. The innovative technologies and programs embedded in this project to improve its capabilities confirm the BinaryX team’s claim.
BNX digital currency is one of the tokens that can be used to earn profit in long-term investment, but its main use is evaluated in the Cyber Dragon game environment. The main purpose of BNX digital currency design is to enable gamers to defeat in-game cyber dragons and earn money. If no gamer succeeds in conquering the game, BNX tokens will circulate as the main in-game tool and their value will increase.
Introducing BinaryX platform structure
The BinaryX platform is an extensive and complex system that supports the CyberDragon game, which is based on the Binance smart chain. This game is a modern entertainment system designed based on the P2E mechanism, and gamers can earn digital currency tokens for playing in its environment. In simpler terms, projects like BinaryX allow the user to be a gamer and a digital currency trader at the same time. This opportunity allows users to earn capital and digital assets in addition to having fun.
The initial stages of this platform were always considered as a decentralized protocol in the field of trading and financial derivatives, but with the passage of time, it underwent changes. The GameFi entertainment and gaming industry is growing day by day, and currently, options such as developing blockchain-based games in the Metaverse world are also on the table for these DeFi platforms. Cyber Dragon game works based on the classic MMORGP system and is built from a neat set of DeFiproperties. These features allow tools like NFT to be considered financial derivatives so that gamers can rely on PvP and PvE modes to play.
Since the development of the Cyber Dragon game project, an economic system called dual token economy has been created, which allows users to earn money through playing. Compared to other similar systems in the blockchain-based gaming project, this system has a higher potential for profit.
The history of the BNX project controversy
The fact that the factors behind the projects in the cryptocurrency world are unknown is normal and customary. The developers of the BinaryX project, like many first-generation projects in the world of digital currencies (such as Bitcoin), are unknown and anonymous. With all this said, during an interview held by the reputable exchange Binance, the founding team of the BNX project includes experts who have been working in the field of blockchain technology for years.
According to this interview, a member of the founding team of Binary X claimed to have enough experience in developing decentralized and centralized exchanges as well as managing digital assets. According to the analysis published online after this interview, it seems that the founding team members of the BinaryX project are based in China.
What is the BinaryX platform and BNX cryptocurrency ?
The GameFi system allows gamers to easily earn BNX tokens and win a prize that no one has been able to get at the moment. BNX tokens earn their value in the broader cryptocurrency ecosystem and can be traded or swapped for other fiat-based tokens (such as USDT).
The BinaryX platform is trying to increase the value of its native token (BNX) and attract more gamers by offering incentives such as the ability to earn money through gaming. Gamers can control characters or characters in this game who perform missions and advance the game. Cyber Dragon game characters have advanced abilities and skills such as mining speed and fighting power. This game has five main characters, gamers must choose one of them to continue the game.
The BNX token is developed and developed as a token based on the BEP-20 standard on the Binance Smart Chain (BSC) network. This token is formatted by the Certik standard and has received the maximum security score in the cryptocurrency field (equal to 83 points). Low cost, significant bandwidth and strong security are the three main pillars of the BinaryX network.
How to buy and sell BNX tokens in the digital currency market
In general, BNX cryptocurrency can be traded on the following exchanges:
- Binance exchange
- DigiFinex exchange
- Mandala Exchange
- BingX exchange
BNX digital currency wallets
As we said, the Binary X token was created on the platform of Binance Smart China and has the BEP20 standard. Therefore, suitable wallets must support this standard. Some of the BNX digital currency wallets are:
BNX digital currency price prediction
According to the statistics and analysis provided by digital currency market experts, it is predicted that the price of BNX will reach a high level of $52.81 by the end of 2022. According to cryptocurrency price forecast indicators, BNX token is likely to reach a maximum price of $101.63 in early 2023 with an average price of 75.57 in trading.
About the future of BNX digital currency in 2025, it is expected that the price of this currency will cross the average price level of 122.51. The minimum expected price of this token in 2025 until the end of the year is estimated at $113.13; Meanwhile, the maximum price of this token is predicted to be $124.86 by the end of 2025.
binary x; An innovative project
The BinaryX project is intelligently designed so that the user can be both a gamer and a trader at the same time. In fact, this project has been able to synchronize itself with developments in the field of digital currencies and improve its capabilities based on the competitive needs of this field.