Fundamental analysis of the BinaryX cryptocurrency
BinaryX
BNX
$1.20

Sector

Platform

Exchange Debut

2023-02-28

Market Cap

441,026,000

Maxim Supply

2,100,000,000

Circulating Supply

368,760,072

Circ. Supply(%)

17.56%
Fundamental analysis of the BinaryX cryptocurrency

BinaryX

BNX

Price

$1.20

Market Cap

Sector

Exchange Debut

441,026,000
2023-02-28

Volume 24h

High 24h

Low 24h

91212533
1.205646486863
1.038587026376

Change 24h

Change 7d

Change 30d

14.4251
2.5401
5.6903

Maxim supply

Circulating supply

Circulating supply(%)

2,100,000,000
368,760,072
17.56%

The opinion of artificial intelligence (AI), based on the fundamental analysis of the BinaryX cryptocurrency:

From the fundamental analysis of the BinaryX cryptocurrency ($BNX), reads the fact that this is the cryptocurrency platform for the binaryX ecosystem, which includes DAO and all products and games that use $BNX. 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. The project aims to redefine gaming in the GameFi industry and create a sustainable economic model while providing fun gaming experiences. This analysis, assesses various aspects to determine its investment potential.

SOCIAL & MASS MEDIA: Score 5.65 out of 10

BinaryX receives a moderate score of 5.65 out of 10 in the social and mass media category, an important aspect in the fundamental analysis of the BinaryX cryptocurrency. The project excels in attracting followers on social media pages and maintains active chat groups with a sizable community. However, community activity on social media pages could be improved, and the presence in traditional media is limited.

AUDIT & SECURITY: Score 7.65 out of 10

In terms of audit and security, BinaryX scores well with a rating of 7.65 out of 10. The project has undergone audits, demonstrating a commitment to transparency and ensuring the safety of its users. Additionally, BinaryX shows good liquidity on exchanges, providing a reliable trading environment for investors.

TOKENOMICS: Score 2.35 out of 10

The tokenomics of BinaryX receive a lower score of 2.35 out of 10, an essential aspect in the fundamental analysis of the BinaryX cryptocurrency. The project’s token economy lacks strong inflationary controls, and the distribution of the monetary mass appears to be centralized. These factors raise concerns about long-term sustainability and decentralization.

ECOSYSTEM DEVELOPMENT: Score 6.6 out of 10

BinaryX scores reasonably well with a rating of 6.6 out of 10 in ecosystem development, an important aspect in the fundamental analysis of the BinaryX cryptocurrency. The project has achieved its objectives and demonstrates a commitment to bringing new developments to the platform. This proactive approach suggests a positive trajectory for the project’s growth and expansion.

TEAM & DEVELOPERS: Score 1 out of 10

The team and developers category receive a low score of 1 out of 10 for BinaryX, a crucial aspect in the fundamental analysis. The project’s team lacks significant experience, and the number of software developers is limited. These factors raise concerns about the project’s ability to deliver on its goals and maintain ongoing development.

PRODUCT & UTILITY: Score 9.2 out of 10

BinaryX excels in the product and utility category, earning a high score of 9.2 out of 10, an important aspect in the fundamental analysis of the BinaryX cryptocurrency. The project offers a highly useful product and demonstrates strong utility for its tokens within the ecosystem. With a focus on gaming experiences and the introduction of IGO services, BinaryX presents compelling value propositions.

PARTNERS & INVESTORS: Score 5.75 out of 10

BinaryX receives a moderate score of 5.75 out of 10 in the partners and investors category, an aspect considered in the fundamental analysis of the BinaryX cryptocurrency. While the project has attracted a number of investors, there is room for improvement in terms of the capacity and quality of these investors. Additionally, BinaryX has established partnerships, but further growth in this area is desirable to enhance the project’s potential.

Fundamental analysis of the BinaryX cryptocurrency – The final conclusion

In conclusion, the fundamental analysis of the BinaryX cryptocurrency reveals both strengths and areas of concern. BinaryX shows promise in terms of its product utility, ecosystem development, and audit and security measures. However, there are significant challenges related to tokenomics and the team’s experience and capacity. Investors considering the BinaryX cryptocurrency should carefully assess these factors before making investment decisions. While BinaryX aims to redefine gaming in the GameFi industry and offers innovative experiences, it is crucial to evaluate the risks associated with the project’s tokenomics and team capabilities. Conducting thorough due diligence and monitoring the project’s progress will be essential for assessing its long-term investment potential.

Overview and Origins

BinaryX ($BNX) forms the foundation of the BinaryX ecosystem, starting as a decentralized derivative trading system. Recognizing the growing popularity of GameFi and metaverse games, the platform took a pivot towards decentralized video game development. Today, BinaryX is transitioning into a GameFi platform offering Initial Game Offerings (IGOs) to connect Web2 developers to Web3.

Subtitle: Unique Features and Services

BinaryX cryptocurrency reveals unique offerings including infrastructural support, DAO governance, and community building initiatives, aimed at scaling promising GameFi projects. BinaryX is redefining gaming in the GameFi industry, emphasizing on creating sustainable economic models for games.

Subtitle: Accomplishments and Future Directions

BinaryX is known for creating CyberDragon and CyberArena, two top games on the BNB Chain. Its flagship game, CyberChess, marks the transition from play-to-earn (P2E) to a free-to-play, play-and-earn model. Moreover, BinaryX is evolving into an IGO platform to incubate, enable, and empower aspiring GameFi developers, providing resources to overcome project hurdles. The recent launch of its first IGO project — SHIT IGO — testifies to BinaryX’s ambitious plans for the GameFi industry.

Where Can You Buy BinaryX – BNX?

BNX can be purchased on cryptocurrency exchanges such as Binance,  Gate.io and PancakeSwap v2 (BSC)

All you need to do is create a  free account on any of these exchanges and start trading.

fundamental-analysis-of-the-binaryX-cryptocurrency

BinaryX - BNX performance

GENERAL CRITERIA:

Score

SOCIAL & MASS MEDIA
0
AUDIT & SECURITY
0
TOKENOMICS
0
ECOSYSTEM DEVELOPMENT
0
TEAM & DEVELOPERS
0
PRODUCT & UTILITY
0
PARTNERS & INVESTORS
0
Content description – Go to Metholodogy

Social & Mass Media In this section was taken into consideration the intensity of the activity of the social media page of the administrators , the speed of the community growth, the user interaction with the pages and as well the number of media appearances in the most important trade publications.

Audit & Security In particular, the team looks if the project is audited, how extensive the audit is,  at the bug bounty program, if it had incidents or not, at the liquidity on the exchanges and at the transparency of the information provided.

Tokenomics Under this criterion it is analyzed whether the project is inflationary or not, whether it has maximum supply, the percentage of supply released into the market at the time of the analysis, the rate of inflation per year, the distribution of supply in the portfolios as well as the vesting plan.

Ecosistem Development In this section is checked if the project has delivered on time what it proposed in the roadmap, the degree of participation in the project governance of the community, the activity and intensity of the developments published on github and what products or applications the team proposes to develop in the future.

Team & Developers It checks if the team is public, the quality of the team behind the project, the number of members on different domains, the experience in IT, finance and cryptography, the traceability of published information about team members and as well the number of developers in the project.

Product & Utility It checks if there are functional products, the number of users and the revenues generated by these products, the sustainability of the project and the usefulness offered in the cryptographic space and as well as in other fields of activity.

Partners & Investors It analyzes the partners and the degree of their involvement in the project, the capacity of investors and investment funds that can contribute substantially to the development of the ecosystem.

Go to Methodology

Content description

Social & Mass Media In this section was taken into consideration the intensity of the activity of the social media page of the administrators , the speed of the community growth, the user interaction with the pages and as well the number of media appearances in the most important trade publications.

Audit & Security In particular, the team looks if the project is audited, how extensive the audit is,  at the bug bounty program, if it had incidents or not, at the liquidity on the exchanges and at the transparency of the information provided.

Tokenomics Under this criterion it is analyzed whether the project is inflationary or not, whether it has maximum supply, the percentage of supply released into the market at the time of the analysis, the rate of inflation per year, the distribution of supply in the portfolios as well as the vesting plan.

Ecosistem Development In this section is checked if the project has delivered on time what it proposed in the roadmap, the degree of participation in the project governance of the community, the activity and intensity of the developments published on github and what products or applications the team proposes to develop in the future.

Team & Developers It checks if the team is public, the quality of the team behind the project, the number of members on different domains, the experience in IT, finance and cryptography, the traceability of published information about team members and as well the number of developers in the project.

Product & Utility It checks if there are functional products, the number of users and the revenues generated by these products, the sustainability of the project and the usefulness offered in the cryptographic space and as well as in other fields of activity.

Partners & Investors It analyzes the partners and the degree of their involvement in the project, the capacity of investors and investment funds that can contribute substantially to the development of the ecosystem.

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