BinaryX (BNX) has recently achieved a new all-time high, climbing 35% in the last 24 hours. This GameFi platform on the BNB Chain is demonstrating the vitality of the blockchain gaming sector. The question now arises: could the new Solana Layer-2 project, Solaxy (SOLX), follow BNX’s lead and experience a significant price surge?
BinaryX serves as a hub for blockchain-based games, allowing players to earn cryptocurrency while enjoying games. Initially a derivatives platform, BinaryX transitioned to gaming and now hosts well-known titles like CyberDragon and CyberChess. Beyond gaming, BinaryX also offers a launchpad for game developers, providing them with the necessary funding and support to launch their projects. This ecosystem is community-driven, with BNX holders participating in decision-making through a DAO.
Recently, BNX reached a new peak of $1.98 before stabilizing around $1.72, with bulls maintaining control. Trading volumes have soared 306% to $637 million, placing BNX as the 14th most-traded cryptocurrency globally, surpassing Litecoin and Sui.
Several factors contribute to BinaryX’s price surge. The FORM token swap situation is a key element, with BinaryX rebranding its launch platform and changing the ticker from FOUR to FORM, allowing BNX holders to exchange their tokens at a 1:1 ratio. This news has been well-received, driving the excitement and price action. Additionally, a substantial token burn last year permanently removed 74% of the BNX supply, contributing to the current rally. BNX’s technical indicators also look robust, with key resistance levels convincingly surpassed.
Turning to Solaxy, this new Layer-2 project on Solana has raised $26.7 million in its presale, with the SOLX token priced at $0.001666. The hype around Solaxy is largely due to its solutions for Solana’s challenges, such as congestion and transaction failures during peak times. Solaxy addresses these by bundling transactions off-chain and settling them on the main Solana blockchain. Additionally, a bridge between Solana and Ethereum is being developed, facilitating asset transfers. Solaxy also offers a staking app with high APYs, adding to the buzz.
With its focus on Solana, Solaxy offers a unique selling point compared to other Layer-2 solutions. Investors are optimistic about its potential for substantial growth once SOLX becomes available on the open market. Solaxy is certainly one to watch for BinaryX-style gains post-presale.
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