{"id":25279,"date":"2024-07-18T20:00:58","date_gmt":"2024-07-18T17:00:58","guid":{"rendered":"https:\/\/coinengineer.io\/?p=25279"},"modified":"2024-07-18T10:13:20","modified_gmt":"2024-07-18T07:13:20","slug":"binaryx-proposes-to-burn-75-of-bnx-token-supply","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/binaryx-proposes-to-burn-75-of-bnx-token-supply\/","title":{"rendered":"BinaryX Proposes to Burn 75% of BNX Token Supply"},"content":{"rendered":"

Web3<\/a> gaming platform BinaryX has announced a new “token burning” plan that would permanently remove 75% of the maximum supply of $BNX from circulation.<\/p>\n

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.<\/p>\n

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.”<\/p>\n

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.<\/p>\n

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.<\/p>\n

In the comment section, you can freely share your comments about the topic. Additionally, don\u2019t forget to follow us on\u00a0Telegram<\/strong>,\u00a0<\/a>YouTube<\/strong><\/a>,\u00a0and\u00a0Twitter<\/strong><\/a>\u00a0for the latest\u00a0news<\/a>\u00a0and updates.<\/em><\/p>\n

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Web3 gaming platform BinaryX has announced a new “token burning” plan that would permanently remove 75% of the maximum supply of $BNX from circulation. 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<\/p>\n","protected":false},"author":1,"featured_media":822,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[239,7444,4329],"class_list":["post-25279","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-binaryx","tag-bnx","tag-burn"],"yoast_head":"\nBinaryX Proposes to Burn 75% of BNX Token Supply - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/binaryx-proposes-to-burn-75-of-bnx-token-supply\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BinaryX Proposes to Burn 75% of BNX Token Supply - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Web3 gaming platform BinaryX has announced a new “token burning” plan that would permanently remove 75% of the maximum supply of $BNX from circulation. 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