Binance listing of the Bondex token failed as its price crashed 91% minutes after launch, reflecting intense sell-offs seen in past listings.
The BDXN price plummeted by over 91% within minutes of the Bondex token introduction, as the charts displayed a complete bloodbath.
More importantly, this collapse occurred during the Binance listing, which is frequently considered a bullish development for the token.
What was the cause of the issue? We should engage in a conversation.
Minutes Following Binance’s Listing, Price Of Bondex Tokens Plummeted
The BDXN token was among the first to be launched by Binance, a renowned crypto exchange, with a listing price of $0.9219.
Nevertheless, the Bondex token price plummeted immediately thereafter, losing over 91% of its value.
It currently trades at $0.07767 and has a market capitalization of $12.42M.
The trading volume has increased by 6000% to $21.86M, but sellers have remained the majority since the Binance Bondex token airdrop.
The official BDXN listing announcement indicates that Binance users who have 212 alpha points are eligible to receive an airdrop of 900 tokens.
Like most popular crypto airdrops, it stimulated vendor activity, which led to price fluctuations.
Bondex Token Price Crash Results From Classic Binance Listing Nature
According to crypto analyst Gem Hunter, crypto tokens with a Binance listing fail woefully in the market.
He asserted in an X post that listing this exchange leads to the failure or collapse of nearly 99% of projects, including tokens such as ACT, DEXE, and KAVA.
The BDXN token price collapse is the most recent addition to this hypothesis, as it experienced a 91% decline in conjunction with the listing.
Despite the possibility that this could account for the collapse, it is merely a speculative explanation based on common occurrences.
Most tokens that the most prominent crypto exchanges have acknowledged are believed to be in high demand among investors, according to experts.
Consequently, their prices experienced a surge; however, investors began to sell early to capitalize on this surge, which resulted in the opposite outcome.
Additionally, the Bondex token airdrop has resulted in substantial disappointment.
Investors began to refer to it as a scam due to eligibility and allocation concerns, which led to intense selling and a subsequent collapse.
