Current BNX Price Action

At the moment, the $1.70 level stands out as a significant short-term support zone for BNX. If the price manages to hold daily closes above $1.70, it would be a positive sign for the continuation of the uptrend. In such a scenario, we may see another move towards the $2.00 resistance area.

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However, if BNX closes below the $1.70 level on the daily timeframe, it could indicate a bearish shift in the short term. This might lead to a further retracement towards the $1.60 support zone.

Possible Scenarios

• If BNX holds above $1.70: The uptrend may continue, with the next target being the $2.00 resistance region.
• If BNX closes below $1.70: We might see a pullback towards the $1.60 support level. This area could be monitored for potential buying opportunities.

In the short term, BNX is consolidating between $1.70 and $2.00 levels. A breakout from this range will provide a clearer directional bias. Traders should closely monitor these critical support and resistance zones for potential short-term opportunities.

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BNX has experienced a significant upward movement after breaking the downtrend on the daily chart and is currently facing a crucial test at the 1.30$ FVG (Fair Value Gap) region. This level still holds as a major resistance. If 1.30$ is breached, we could see BNX moving toward 1.50$-1.70$ levels. These price levels stand as critical targets for investors.

On the other hand, BNX‘s support levels have also been clearly outlined. The first support is the upward FVG level just below. If this level is lost, the next support is the 0.827$ price level. This would mark a possible new entry point for investors looking for buy opportunities.

Currently, the 1.30$ level stands as the key pivot point for BNX‘s direction. If the price manages to break through this resistance, BNX could gain significant momentum. However, a pullback at this level could signal a weakness in the current trend, potentially dragging the price down to lower levels.

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The post BNX Price at a Critical Turning Point: Will It Break the 1.30$ Resistance? appeared first on Coin Engineer.

A New Chapter Begins: Transition to Four

The rebranding aligns more closely with Four.meme, a fair launch platform for the meme ecosystem, launched on July 3rd, 2024. This move further solidifies Four’s pioneering role in DeFi innovation within the BNB Chain ecosystem.

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Continuous Innovation and Expanding the DeFi Ecosystem

From GameFi to IGO Launchpad, and now to Four.meme, Four continues to bring innovative projects to life, aiming to drive wider adoption of blockchain technology. It emphasizes that blockchain is not just a tool, but a transformative spirit embodying decentralization, openness, and transparency.

Token Information Update:

• $BNX Rebrands to $Four: $BNX will be rebranded as $Four, and all $BNX holders will be able to exchange their tokens for $Four tokens at a 1:1 ratio. More details on the swap process will be announced soon.
• Maximum Token Supply: The maximum supply of $Four will remain the same as $BNX.
• Token Usage: The $Four token will serve as the governance token for the project, with all $BNX use cases transitioning to $Four.

Four is committed to continuously renewing the DeFi ecosystem and supporting the growth of quality projects on the BNB Chain.

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The post BinaryX Officially Rebrands to Four: A New Era Begins appeared first on Coin Engineer.

Which Trading Pairs Will Be Delisted?

Starting from 2025-01-17 03:00 (UTC), trading will cease for the following pairs: BNX/BTC, CATI/BNB, CATI/BRL, CHZ/FDUSD, DOGS/BNB, GTC/BTC, HIGH/BTC, LISTA/BRL, NOT/BRL, PIXEL/BTC, TKO/BTC, and TWT/BTC.

What Should Users Do?

To avoid potential losses, Binance has advised users:

1. Those using Spot Trading Bots for the affected pairs should update or cancel their bots before the specified date.
2. The delisting of these pairs will not impact the ability to trade the base and quote assets through other trading pairs available on Binance.

Why Was This Decision Made?

Binance conducts regular evaluations of its trading pairs, considering factors like low liquidity, poor trading volume, and overall market conditions. The goal is to create a safer and more efficient trading environment for investors.

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According to Binance, users can still trade the underlying assets of delisted pairs through other trading pairs on the platform. For the most accurate information, users are advised to refer to the original English version of the announcement.

This decision by Binance could contribute to a more stable market structure.

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The proposal, which will be put to a community vote on social media in the coming weeks, aims to address concerns about the token’s long-term sustainability and value.

If the proposal is accepted, 75% of the BNX token supply will be permanently removed from circulation, effectively reducing the maximum supply of $BNX from 1.62 billion tokens to 580 million tokens. The maximum supply refers to the absolute number of tokens that will ever exist. By removing $1.6 billion worth of tokens from the market, BinaryX is making a bold statement about its commitment to entering a “deflationary phase.”

Meanwhile, no exact date has been given for the $BNX token burn community vote. The BinaryX team has stated that the vote will be announced soon on social media channels.

In the wake of the token burn announcement, the $BNX price has surged over 35% in the past 24 hours and is currently trading at $1.63. According to CoinGecko data, $BNX hit its all-time high (ATH) price of $6.58 in February 2023. It is currently trading at a 75% discount from that level.

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