Another Binance Listing Fails, Bondex Token Price Collapses
Highlights
- Bondex (BDXN) token price crashed significantly within minutes of Binance listing.
- Mass selling followed Binance’s Bondex listing and airdrop, fueled the crash from $0.08 to $0.03.
- Critics blame the crash on Binance due to common patterns and high sellers' activity.
Within minutes of the Bondex token launch, the charts presented a complete bloodbath, resulting in the BDXN price crashing. More importantly, this crash happened amid the Binance listing, which is often regarded as a bullish action for the token. What went wrong? Let’s discuss.
Bondex Token Price Crash Minutes After Binance Listing
Binance, the popular crypto exchange, is among the first to launch the BDXN token, with a listing price of $0.08. However, the Bondex token price crashed immediately after that, losing a significant portion of its value. With that, it currently trades at $0.03778 with a market capitalization of $6.06M.
Moreover, it has a trading volume of $16.41M, up 24%, but the sellers are in the majority past the Binance Bondex token airdrop. According to the official BDXN listing announcement, the Binance users with 212 alpha points could claim an airdrop of 900 tokens.
Similar to most trending crypto airdrops, it fueled seller activity, resulting in price crashes.
Bondex Token Price Crash is Result of Classic Binance Listing Nature
According to crypto analyst Gem Hunter, most crypto tokens with a Binance listing fail miserably in the market. In an X post, he claimed that most projects fail or crash nearly 99% with this exchange’s listing, including the tokens like ACT, DEXE, KAVA, and many others.
Now, the BDXN token price crash is the newest addition to this hypothesis, as it crashed with the listing. Although this could explain the crash, this is just a speculation based on common events.
Experts believe that most tokens with top crypto exchanges’ acknowledgement gain high demand among investors. As a result, their price pumps; however, to benefit from this pump, investors began selling early, bringing opposite results.
Besides, there’s also significant disappointment with the Bondex token airdrop. Investors began calling it a scam due to eligibility and allocation issues, resulting in high selling and a crash.
Frequently Asked Questions (FAQs)
1. Why did the Bondex token price crash?
2. Why are investors calling Bondex a scam?
3. How is the BDXN token performing at press time?
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