BinaryX Hits New ATH After 35% Pump, Could New Altcoin Solaxy Explode Next?
BinaryX (BNX) has just shattered its previous all-time high after surging 35% in the past 24 hours.
This GameFi platform on the BNB Chain has caught fire proving that the blockchain gaming sector is alive and well.
But could the new Solana Layer-2 project, Solaxy (SOLX), be the next altcoin to pump after BNX?
BinaryX Explodes as GameFi Platform Hits Record High
Think of BinaryX as a playground for blockchain-based games, where players can earn crypto and be entertained simultaneously.
Originally a derivatives platform, BinaryX made a shift to gaming and now hosts popular titles like CyberDragon and CyberChess.
But BinaryX offers more than just games.
It also provides a launchpad for other game developers, helping them get their projects off the ground with funding and support.
All of this is governed by the community BNX holders get a say in how things are run through a DAO.
And this brings us to BNXs latest rally.
The token hit a new all-time high of $1.98 earlier today, and though it has since cooled off slightly to around $1.72, the bulls remain in control.
Spot trading volumes have surged 306% to $637 million, making BNX the 14th most-traded crypto globally.
Its even outpacing Litecoin and Sui in trading activity.
Whats Behind BinaryXs Price Surge?
Whats behind BinaryXs incredible rally?
Its a combination of factors that all seem to be hitting at the same time.
First, theres the FORM token swap situation.
BinaryX rebranded its launch platform from Four.Meme to just Four but this caused a key issue.
Its native token, FOUR, is widely used in the meme coin sector, so the team has decided to change the ticker to FORM.
BNX holders will be able to swap their tokens for FORM at a 1:1 ratio.
This news has been well-received by the community, and with the swap kicking off this week, the excitement is clearly driving the price action.
Then theres the token burn that occurred in July of last year.
That burn saw 74% of the BNX supply permanently destroyed and the impacts are now being felt as the token rallies.
BNXs technicals also look strong, with resistance around $1.25 being broken convincingly.
All of these factors help explain why BinaryX is the top altcoin gainer today.
Could This Solana Layer-2 Be the Next Crypto to Explode? Solaxy Raises $26.7M in Presale
Could Solaxy be the next to surge after BinaryX?
This new Layer-2 project, built specifically for Solana, has raised $26.7 million in its presale, with the native SOLX token currently priced at $0.001666.
Popular YouTuber ClayBro believes SOLX could run fast after the presale ends but why all the hype?
The main reason is that Solaxy addresses Solanas occasional hiccups.
These include congestion issues and failed transactions that often occur during peak times, such as meme coin launches.
Solaxy does this by bundling transactions off-chain, smoothing out the process, and then settling them on the main Solana blockchain.
The developers are also building a bridge between Solana and Ethereum, allowing assets to flow freely between the two.
And on top of all that, theres a staking app for SOLX, offering huge APYs.
No wonder the token has been listed on popular crypto-ranking sites like CoinSniper and ICOBench.
Unlike established Layer-2s like Base or Arbitrum, Solaxy focuses solely on Solana, giving it a unique selling point.
Investors are excited about this, believing its potential first-mover advantage could lead to a massive price surge once SOLX hits the open market.
Members of Solaxys Telegram channel are confident this will be the case.
Only time will tell, but Solaxy is definitely one to watch for BinaryX-style gains once its presale ends.
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